19 Mar Young Driver Insurance – How to Find Low Rates
Teenage drivers pose a high risk for auto insurance companies for obvious reasons. Although rates will typically be higher for younger drivers, here are some steps you can take to ensure you’re getting the lowest rates available.
1. Get a quote to see how much it would cost to be added on your parents policy.
Depending on the kind of policy and the company your family is with, getting added to the family policy could be a good way finding the lowest rates. If your family policy consists of high end vehicles that you will not be driving, check to see if the insurance company will assign you to a lesser value vehicle that you drive. Many insurance companies will automatically assign the highest risk driver to the most expensive car to ensure they are collecting proper premium. In a lot of cases, the most expensive vehicle is usually not driven by the teenager so make sure to see if your parents insurance company will assign you to the vehicle you drive as this will significantly reduce rates.
2. Get auto insurance quotes from local agencies & brokers.
Agencies and brokers usually work with multiple insurance companies specializing in the non standard industry. The non standard industry is basically insurance lingo for high risk which is where teenage driver insurance falls under. Agencies are able to quote multiple non standard insurance companies at once and offer the lowest rate of all the insurance companies they are authorized to produce on behalf of. An insurance agency can also look into ways available to lower your rates with discounts and options,
3. Shop Around.
Finding the lowest rates for teenage drivers sometimes means just comparing rates of multiple companies until you find the lowest one. With the web, shopping for auto insurance has never been easier. Many insurance companies now offer instant auto insurance quotes online which allows you to compare more rates in less time. Some agencies also offer online young driver insurance quotes now and some of them will even display the rates of multiple companies with one quick easy form. The power of competition is a great way to find the lowest rates, take advantage.
4. Become less of a risk.
Consider driving a vehicle that will only require liability insurance. The less coverage you purchase, the less of a risk you are to an insurance company resulting in lower rates. Wait until you have 3 years of driving experience or shop for quotes again when you turn 19. At the age of 19, many agencies can give you your full 3 years of driving experience which makes you eligible for a 20% good driver discount. Offering good driver discounts are required per prop 103 and every insurance company has to apply the discount if you qualify.