Basics of Young Drivers Car Insurance
How do you know if you’re considered a young driver? Most insurance companies consider young drivers to be between the ages of 16 and 24 years. Due to their relative inexperience in driving, they may be considered high-risk when it comes to car insurance. This means they are statistically more likely to be involved in an accident. That’s why young drivers often have to pay more for insurance than those with more experience. Because of this, it’s likely they’ll pay more expensive premiums.
Tips for Young Drivers to Save on Car Insurance
Bundle your car insurance with your home insurance or tenant insurance
- Bundling multiple policies can result in savings! Talk to your broker about bundling things like multiple cars, home or tenant insurance.
Take a young driver training course
- By taking a government-approved driving program, you can progress to a full license faster
- Some insurance companies offer discounts to drivers who have completed a driver training course. Talk to an insurance broker to learn more!
Raise your deductible
- If you increase your deductible, your premium will be cheaper.
- Before changing your deductible, think carefully about your budget and what you could afford to pay out of pocket if you are involved in an accident.
- One of the best ways to avoid an increase in your insurance is by avoiding accidents and claims.
- You should also be sure to always abide by the speed limit. It’s one great way to stay safe and avoid claims.
Sign up for usage based insurance (UBI)
- UBI uses technology to track your driving habits. If you are a safe driver, you can save on insurance.
Pay your premium on time
- It’s important to always pay your insurance bill on time. Being a good customer is one way to avoid an increase in your rates.
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FAQs on Young Drivers Car Insurance
Can I be added to my parents’ car insurance policy?
Yes, you can be added to your parents’ car insurance policy. In order to be added there are a few requirements:
- Your parents must be listed as the owners of the car you’re driving
- You must live at your parents’ home
I started learning to drive in my thirties - am I still considered a young driver for car insurance purposes?
You might not be considered a young driver. However, insurance companies take driving experience into consideration. That means you might have to pay a higher rate until you get some driving experience under your belt. Talk to one of our brokers to learn more!
Is there young drivers insurance for motorcycles?
Motorcycle insurance is different than car insurance. Insurance companies have different risks to consider when it comes to motorcycles. To get a quote, talk to one of our brokers.