Is 25 the new 21? Easy tips for cheaper car insurance premiums for under-25 drivers
It’s not often that young people wish they were older except probably when it’s time to buy car insurance. You see insurance companies lump all drivers between the ages of 16 and 24 in the “young driver” category and research shows that drivers in that age category are riskier to insure because they tend to have more car wrecks or have more speeding tickets which means higher premiums on car insurance. And while that may seem unfair now that you’re old enough to vote, join the Armed Forces or legally buy a beer at the local watering hole, there are several ways young drivers can reduce their premiums on car insurance:
- To leave or not to leave the nest? – Nothing pierces the air of independence more for young drivers than having to depend on their parents for car insurance but it could save them major money long-term. There may be some stipulations involved such as having to put the car’s title in mom or dad’s name but it is definitely something to consider before branching out on your own.
- Research! Research! Research! Doing your homework on what cars are cheaper to insure could save you hundreds of dollars yearly and thousands of dollars over a lifetime of car insurance because it isn’t just flashy sports cars that carry high premiums. According to the National Insurance Crime Bureau, the number one most-stolen car in America isn’t a Corvette but the more vanilla 1994 Honda Accord. While drivers in border states such as Texas will pay more to insure Ford or Chevy trucks than their counterparts up North because of the trucks’ popularity with car thieves that operate on both sides of the Rio Grande.
- Automatic for the People – If you haven’t bought a car yet, look into one with safety features such as automatic seat belts, air bags or side-impact air bags which will score you a discount with your insurance carrier. Current car owners should look at what savings are offered for installing a car alarm or even airbags in their current vehicle.
- Get Defensive – Completing a defensive driver’s course is another way to get a discount on your car insurance as well as give you more knowledge on how to deal with all the road hazards out there.
- Stay Clean – Traffic tickets will equal higher premiums especially the speeding kind while Driving Under the Influence (DUI) violations will cause, at the minimum, your premiums to increase by thousands of dollars or, at worst, may cause a drop in coverage.
- They’re Watching You! – Insurance companies often offer discounts for young drivers that carry a B-average in school or are full-time college students since their research shows that young drivers that go to school and maintain solid grades show the type of responsibility that translates into better driving and therefore someone less risky to insure.
- You Better Shop Around – Young drivers should not stay complacent and should always be on the lookout for a better deal. Sites such as AutoInsuranceMonitor.com are good one-stop shops for car insurance because they allow you to get quotes from major insurance companies such Geico, Esurance, and Progressive.
So while it may seem frustrating to young drivers that they’re singled out like this by insurance companies, by following the tips above today’s young road warriors can still find ways to save money on car insurance while they’re in this high-risk age category.