Dec 07 2009
Young Drivers, Cheap Car Insurance, and Avoidable Mistakes
For young drivers, cheap car insurance can be as difficult as earning a perfect score on a Calculus exam. Unfortunately, there’s nothing that teens can do about their age—their auto cover will automatically be higher until they’re 25 years old. However, these are mistakes to avoid, which could cause your teen’s cover to be even higher:
1. Never buy a new vehicle. Such vehicles already require more cover, and these costs can be sky-high for teens. You likely want to avoid buying your son or daughter a lemon, right? As an alternative to a new automobile, you could buy one that’s a few years old. The cost to insure it will be drastically lower than for a new auto.
2. Never put your son or daughter on your own policy. Conventional wisdom says that having two people on the same automobile cover policy will save you money. However, in the case of young drivers, cheap car insurance won’t be found by taking this action. Instead, it’s better if you take out an individual policy for your teen.
3. Never assume that fewer than three quotes are acceptable. Three should be the minimum number of quotes that you get, when scouring the Earth for the lowest one. There’s no guarantee that three will be enough, but it can help in finding a much lower rate.
4. Never make payments more often than twice a year. The closer the payment periods are to each other, the higher the deductibles will be. At first, it may seem difficult to save up enough for your child’s auto cover every six months. However, if you gradually fill up the virtual piggy bank, within six months you’ll have enough!
When insuring young drivers, cheap car insurance is possible. By avoiding these four errors, you can make it happen—and save yourself a truckload of money!
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