subject: Cheapest Auto Insurance For Young Drivers, Is This A Misnomer? [print this page] It seems almost unreal that the words cheapest auto insurance for young drivers are actually put together in the same sentence. We all know this is a misnomer and there is no such thing in heaven or on earth. But wait a minute; things have changed since insurance companies started to be represented online.
The World Web Web is a really big marketplace, the biggest in the world as we know it and this also makes it an incredibly competitive marketplace. While the statistics for insurers are not really great in respect of young drivers, this is a still a sales niche and it has to be catered too.
It is a numbers game and the numbers say it all, Highway Safety statistics tell us and the indemnity companies that 16 year olds are six times more likely to get into accidents than a 30 year old. While we say increase the driving age to 18, not many people would agree with us, particularly not in the US. But this is one of the driving factors which makes cover so expensive for teenagers and young adults.
Once you reach 30, it's all downhill in more ways than one; the bottom falls out of your premiums as well as the seat of your jeans.
The good news is that some indemnity companies think outside of the box in order to be more competitive. This opens up sales possibilities for them and better expectations for quotations for you. They may be able to help you cut costs, but it always pays to remember that no matter what insurance you buy; the higher the risk, the greater the cost will be.
There are some things that you have to take responsibility for and one of these is teaching by example. For example, if your teen sees you tailgating or breaking the speed limit. Chances are they will pick up the same bad habits. The chances are also pretty certain they will drive this way too, so set a good example; you also want your child to be safe.
It may be cheaper to have them on the same policy as your own insurance, one policy with an additional driver is more practical. Also find out about discounts for grade point averages, these are also available and it is a good incentive for your teen too. As in "when you get your GPA up to 3.0 I can afford insurance for you and then we can get you your own car".
The better their grades as they go through the education process, the cheaper the insurance will be. You could even pass the savings onto them to incentivize them to drive more carefully and get better grades. Now that is what we call getting creative!
by: Lance Thorington
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