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Finding The Best Car Insurance Rates For Teenage Drivers

Finding The Best Car Insurance Rates For Teenage Drivers

There are several things that will affect one's automobile insurance costs

. Age is only one of these factors. If you are a teenage driver or are the parent of one, you will need to focus on the other areas to keep your premiums down.

Why do teen drivers pay so much? It is simple. The insurance companies have no driving history or a limited driving history on which to base their rates.

Typically new drivers will have two opportunities to lower their cost for automobile insurance that are not available to older drivers. They can get a ten percent discount with most auto insurers if they successfully complete a drivers education course. They can get an additional ten percent discount by maintaining a high GPA in school.

Another factor that impacts one's car insurance rates is the physical damage options one chooses when purchasing a policy. Physical damage coverage is the part of your policy that pays to repair or replace your car.Finding The Best Car Insurance Rates For Teenage Drivers


Physical damage coverage has two parts. One is the collision coverage. This pays the cost to repair damage caused by many perils including automobile accidents. The second is the other than collision coverage. This pays to repair damage caused by various perils including theft and vandalism.

You can eliminate this coverage all together. You can drop the collision coverage and keep the other than collision coverage. You can reduce the applicable deductible or deductibles.

If your auto is financed or leased, the lienholder is likely to limit how much you can reduce the physical damage coverage on your car. Since your car is the collateral for the loan or actually owned by the lessor, the lienholder has a right to expect that your automobile is always insured with adequate physical damage coverage.

You will not be able to eliminate the collision or comprehensive coverage if your automobile is leased or financed. You may be able to raise the deductibles and reduce your costs. You should check to contract you have with them to know what deductible limits are allowable.

If you drive an expensive auto you may not want to increase your deductible amount. Lowering your costs for insurance may start with purchasing older cars that require less insurance coverage.

Another factor that affects one's insurance premiums is your location. If you live in a high crime area, the portion of your premium that goes toward the risk of theft is affected. If you live in an area where there is a lot of congestion on the roads, your chances of getting into an accident are affected. The chance or your auto being stolen, vandalized or hit by another automobile are all affected by where you live.

Although few people will make a decision about where to live based only on their potential auto insurance premiums, it should be one factor you consider before moving. If you have a choice of living in more than one place, it may be a good idea to get car insurance estimates before making a choice. The cost of homeowners insurance and medical insurance are also impacted by location.

Of all the things within your control that impact automobile insurance rates your driving history is the most important. Driving slowly and intelligently is the most important thing that you can do to keep your costs down.

There are many things that impact your car insurance rates. Your age is only one factor. Discounts are available to teenage drivers based on their taking drivers' education and their GPA. Making sure that you have no more physical damage coverage than you need can also cut your costs. Maintaining a good ticket-free driving history is crucial.

by: Alston Balkcom
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Finding The Best Car Insurance Rates For Teenage Drivers