subject: What You Should Know About Cheap Insurance For Young Drivers [print this page] Getting cheap insurance for young drivers is possible, if you take time to research several companies. You will have to request quotes from several companies to measure up the terms and benefits and see how that will influence your situation. Insurance is available for everyone of legal driving age, which is 18 in most countries. Many insurance companies offer discounted rates for drivers of age nineteen and older with a one year no-claims bonus.
Insurance companies do a lot of research to refine their rate schedules and it is believed that young drivers are less honest motorists. This is one of the reasons why motorists under the age of twenty-five pay higher premiums than those over 25. Research has shown that those younger than 25 are more likely to abandon an accident scene without leaving their details. Due to this, an honest motorist has to fork out a higher premium to cover damages. It is really a difficult situation, as they have to choose to either pay for the repairs out of their pockets, or lose their no-claims bonus.
Younger motorists are also more risky drivers as they do not have much experience and they are more likely to take chances. Some countries consider rising the legal driving age to deal with this.
A driver who is still at school can reduce their premiums by maintaining a good average. The insurance company will request a copy of the grade report to keep on record. A drivers education course to reduce your premium and gain more driving experience.
Parents should set boundaries, which will prevent accidents. Distractions should be minimized if not avoided. These distractions may involve using a mobile phone, noisy friends in the car and loud music.
The car that is insured plays a big part in increasing the rate. A fast, brand-new sports car will cost a lot more to insure than a quality used car.
Most companies offer a multiple driver discount. Enquire from several companies and find out how much it will cost if you switch all the drivers to a new company. An annual or bi-annual premium will fetch lower admin fees than a monthly payment.
Enquire about the excess or down payment in the event of an accident. If you feel quite confident with your young driver, you can opt for lower premiums. This will result in paying a higher down payment if an accident takes place. Only push this excess to an amount with which you are comfortable.
Parents can get free; no obligation online quotes for cheap insurance for young drivers.
by: Lance Thorington
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