Teenage Car Insurance

Teenage Car Insurance

Teenage Car Insurance

Teenagers these days are hitting the road with more regularity. These teens are buying car insurance, as well, since they’re getting their own vehicles. Though shopping for and purchasing a car might be the most important thing in a teenager’s mind, shopping for car insurance is similarly important. Teenage car insurance can represent a significant cost, but it doesn’t have to break the bank. These drivers can compare the market and find reasonable car insurance quotes if they are willing to put in some work. Here is a little guide to getting your hands on teenage car insurance coverage.

Teenage drivers and a higher cost

When you compare the market, you will see that all insurance companies charge higher rates for teenage drivers. This does make sense, as well. Teenagers present a much higher level of risk for car insurance companies because they are generally less mature and less experienced than other drivers. This cost is justified, but some companies will provide discounted rates. When you compare car insurance options from various companies, you may be able to save some money while still getting the coverage that you need.

Keeping costs down with a reasonable car choice

Though the insurance is going to be expensive a teenage driver, there are a few things that you can do to keep it down. The first step is to make a reasonable choice in which car you purchase. As a young driver, you are better off in a vehicle that is both safe and conservative. When you purchase a high performance vehicle that is capable of going really fast, you can run into some real trouble with costs. Insurance companies are known for piling on the cost for these vehicles. A smarter choice is to buy something that raises fewer eyebrows. This is within your control and it can drastically reduce your cost.

Consider something other than a comprehensive package

Not every driver wants or needs a comprehensive insurance package. In fact, you might be better off by going with a less expensive policy. If you want to save cash, you can go with a theft, fire, and third party insurance policy. This won’t cover your own vehicle in the case of an accident, but it will cover the other party and it will cover you in the case of fire or crime. Weigh whether this is something that you might want to do. It is certainly a risk, but if you are comfortable with not having your own accident coverage, you can come away with some really nice savings.

The large voluntary excess trick

Though it’s not really a trick, one of the best ways to get cheaper teenage care insurance is to go with a larger voluntary excess. If you are willing to commit to a larger excess, the insurance company has less risk. This means that your own out of pocket expenses will be much higher in case of a claim, but that is a risk that you might be willing to take. Up your voluntary excess if you want to save money on your premiums. The cost is going to be a sliding scale, so the higher you go on your excess, the lower your monthly cost will be. It is up to you to weigh how much risk you are willing to take. Drive safely and all will be well.

Ultimately getting cheap car insurance for a teenager is not impossible, but it is expensive. Following these little tips will give you a chance to keep costs down and still get the level of insurance coverage that you likely need.