Why, of course, it’s not insurance that covers brand new cars. It’s car insurance that may be covering a brand new driver, though. And cheap young car insurance is what new drivers, who may still be only in high school and very much cash-strapped, will certainly be looking for.
Young car insurance essentially is car insurance that covers drivers ages under the age of 25, although some of these “young car insurance” policies may also cover unmarried adults who are under the age of 30 (especially if they are males).
These are high risk drivers because they are relatively inexperienced and, as is proven by statistics as well as anecdotal evidence, they are more prone to speeding and reckless driving incidents, which increases their chances of getting into accidents or causing property damage.
Consequently, cheap young car insurance can be difficult to find. Young car insurance premiums are going to be higher than those for anyone else who drives save for an older person who has a dreadful driving history.
The premiums are high because of the relatively high risks associated with young drivers, and insurance providers must collect enough revenues from premiums to maintain a sufficient pool of money to pay out claims in cases of accidents, injuries, property damage, and the results of other youthful indiscretions that may take place behind the wheel.
Because young car insurance premiums are high you might also consider paying car insurance monthly this will ultimately cost you a bit more but at least it spreads the cost of the premiums across the term of the policy.
However, there are ways of making it easier on yourself in seeking to find cheap young car insurance policies.
One way, if you are still quite young and still a student living at home, is to forego owning your own car and just borrowing mom’s or dad’s when you can.
If you do this, you are eligible to remain covered on their car insurance, and that will save you a pretty penny and can be your method of cheap young car insurance while you’re still going to school.
Your parents are considered experienced, low-risk drivers, and statistics bear out the fact that married people tend to be more careful drivers than those who are unmarried.
However, you cannot remain covered for free, so you will have to make sure that your parents agree to the somewhat higher premium and to the increased risk posed by your usage of their cars.
It could help if you got a part-time job to pay for your coverage. Also, this strategy for cheap young car insurance premiums only works as long as you don’t own your own vehicle-once you do, the insurance company will expect you to buy your own policy.
If you have a pretty good or excellent driving record when you reach age 25, you can expect to see a significant lowering of your car insurance premiums.
You are now regarded as an experienced and responsible driver by the insurance company. Therefore, another way to find cheap young car insurance is to be extra-careful as a very young driver and “stick it out”.
Getting married is another way of making it easier to find cheap young car insurance rates.
As mentioned above, married people have a strong tendency to be more responsible drivers than single people, as they psychologically understand that they have more to lose if they do something foolish behind the wheel.
Getting married helps young male drivers with their car insurance premiums even more than young female drivers-single male drivers under age 25 are regarded as being in the highest risk-group by car insurance providers.
Other ways of more easily acquiring cheap young car insurance:
Remember all of these tips for finding cheap young car insurance premiums if you’re a young driver shopping around for young car insurance.
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