It is understandable that insurance companies charge a higher rate for what they consider high risk groups of people. Unfortunately for young drivers, be they teens or college students, insurance companies automatically put them in the high risk category and charge the highest rates for their insurance. Young men are targeted as the greatest risk with the highest premiums for the privilege of insuring their vehicles. There are at least a few ways in which the young, beginning driver can as least shave a little off these exorbitant fees.
There are driver instruction courses offered in most high schools. Completing one of these with high marks occasionally helps with insurance rates. Another way to reduce the fees a bit is to choose a car that does not automatically rate higher premiums. While a flashy sports car may fit a teen’s image, the double whammy of high-rate vehicles on top of youth will make for very expensive car insurance. The teen years are all about gaining independence from one’s parents, but if you can be placed on your parent’s auto insurance policy, while the rate for you is still high, it will not be as great as if you have your own individual car insurance policy. A young driver will also want to pick a higher deductible for his auto insurance policy. This not only helps bring down the rate for him, it is a strategy that will reduce rates for any driver regardless of their age.
Driving performance will slowly help the young driver cut some off their auto insurance premiums. It may sound simplistic but if yu are a careful driver and can build up a record of having no accidents, or at least no at-fault accidents, you will slowly be rewarded for safe driving as the years progress. A young driver may think that since they have insurance they need to put in a claim for even small accidents. Unfortunately this will drive your insurance premiums higher if not get the policy cancelled. If you can afford to repair minor damage on your own without having to involve the insurance company, the long-term savings can far outweigh the increase in premium payments multiple small claims will create.