By this time, you probably understand that being young is not a good thing when it comes to car insurance. Cheapest car insurance for young drivers is hard to come by for a few obvious reasons. But, it does not mean that you have to contend with high insurance cost if you are still in college. There are ways to get discounts.
Over the years, insurance companies have determined who the good drivers are. Statistical data can work for or against you. What do the statistics indicate?
First, students with good grades tend to be better drivers. Good grades are not always a guarantee of obtaining inexpensive car insurance, but, they can improve your chances of getting them. So, if you are below 25 years old and are still attending college, you should have at least a 3.0 GPA. Of course, you have to show your card. How else will you show evidence of your good scholastic record? Do not take this lightly. A college student with good grades can avail of good discounts on vehicle coverage. Student discounts can give you hundreds of dollars of savings per year. The amount of money you save can be used for other necessary expenses, like, books and school supplies.
Luck may not be on your side if your grades are not that impressive. You may not be able to avail of an insurance discount now, but, you can work on improving your grades so that you can avail of the discount when you renew your car insurance. Getting the cheapest one should not be your sole motivation for accomplishing a good academic performance.
Parents can also add their teenage son or daughter to their coverage policy. If you are included in your parent’s coverage, you can avail of their discounts. But, if your parents are insuring multiple cars, chances are you will have the same policy as all the other cars have, which will increase the cost of your coverage. If you are driving just one of the vehicles, it may be better to just put you on a separate policy. However, because you are not yet earning, it is unreasonable for you to pay high premiums, especially if there are cars included that you do not drive.
Teens buying their car should consider the right model. The type of vehicle also affects coverage costs. How many times have you heard this reminder? If you don’t want to share your parent’s car and you want to drive your own automobile, choose the right model. The ideal vehicle has safety features but should not be expensive. Consider those that are about 5-10 years old. Safety features to check are air bags and alarms. These features will lower the price of teen car insurance.
The common type of coverage is PLPD (property liability and property damage coverage). But this is restricted only to owners who do have a loan on their automobile. PLPD is the cheapest car insurance, though. If you bump into another vehicle, as many teen drivers do, you could get into trouble. It is not uncommon for teen car insurance to include collision coverage. Comprehensive coverage, on the other hand, may be too expensive already.
By: Cedric Loiselle