Young drivers make up a significant portion of the drivers on the road today. There are special circumstances that surround young drivers, including staged licensing, and different insurance rates.
Is that favorite ride of yours insured? The fact remains that car insurance for young drivers is an expensive affair, but it’s not something that you can ignore. However, what you can do is to get informed about the various tips and tricks to avail auto insurance at better rates.
And if that is what you are looking for, you have come to the right place. Here are all the auto insurance tips that young drivers like you need.
Start By Getting the Right Kind of Car
The type of car you have leaves a major impact on your insurance premiums. Some of the lower coverage and more reliable options include Hyundai Elantra, Toyota Tacoma, Subaru, Jeep, and Ford Explorer.
Some cars are simply more costly to insure because of their features and/or tendency to be used as racing vehicles. It costs more to insure luxury cars because fixing them is more expensive than standard models.
Also, did you know that some cars have a higher tendency to get stolen? The Insurance Bureau of Canada publishes a list of the top ten stolen vehicles in the country every year.
Go For a Proper Driving Course
You can learn to drive really well from your elder sibling or mom and dad, but it will help your insurance premium to go for a proper driving course.
Driving courses help in reducing premiums as drivers learn the exact preventive measures for accidents and other safety issues that might occur on the road. You might get a good discount on your insurance premium by going for such a course.
The Role of Age and Gender in Car Insurance
Young drivers are usually put under the microscope by the insurance providers. As mentioned right before this, it would help to get certified from a government-approved driving program. However, the rates might still be a bit on the higher side until you hit twenty-five.
Furthermore, Canada believes that men are more likely to drive under the influence, have more serious accidents, and end up in a case of road rash. Thus, young men fall in the category of high-risk drivers and have to pay more for the life insurance policy.
But, keep hope because as you gain experience and acquire a positive driving history, this will change.
Consider Bundling Your Car Insurance
Bundling your insurance is always a sound idea if you want to save money. Getting multiple policies from one provider lets you get some discount on a car insurance policy. Also, you are saving the insurer money by having multiple policies with them. A win-win situation for everyone!
Besides, if you already have one or two policies with a provider, they must be reliable and trustworthy to you.
Increase the Deductible on Your Policy
Based on the insurance coverage you have, you’ll have different options in deductible thresholds to select from.
In the case of an insurance policy, the term deductible refers to the amount that you need to pay before the insurance cover pays anything. If you can arrange for some extra cash, it's a good idea to increase the deductible amount and lower the insurance premium.
Keep in mind that the savings differ from one place to another, and it can range from less than six to more than twenty-nine percent. You need to talk to your agent beforehand to know more about it.
Shop Around For Better Discounts
You already know that insurance companies look at different parameters while determining auto insurance premium prices. As every company looks at different parameters, it’s worth getting your insurance quotes from more than an insurance provider.
The fact is that several auto insurance solutions are available in the markets, which are cost-friendly or even especially suited for purchase by young drivers. Plus, there is always the choice for comparing the policy options in premium insurance companies before you purchase them.
Apart from the deductibles, there are a number of factors that might help in bringing down your insurance costs, such as low annual mileage and even the distance from your home and college. You can check this page to learn more about how to get cheap car insurance quotes in Ottawa.
Get a Dash Cam Installed In Your Car
Though it will not bring a huge change in your insurance premium right away, think of a dash camera as a long-term investment. It will indirectly help you by proving the facts in a car accident.
Most of the modern models have a two-way recording to monitor the road and the driver at the same time. Many of the great entry-level models might also serve your purpose. More and more, we’re seeing insurance companies using dashcam footage to determine fault in auto collisions.
Understand the Types of Coverage
Auto insurance coverage has different categories, and each one covers a separate area. Though you probably already know about full coverage and minimum (liability) coverage, the types of coverage extend way beyond these two options. In fact, many insurance types available have improved to include pay-as-you-drive coverage.
Focus More on Your Liability Insurance
Car insurance policies have liability insurance that helps in paying for any damage that you might cause to another person or their property. In case you are the one responsible for a major accident, the amount from your liability insurance would cover some of the costs, and you will have to pay for the rest out of your pocket.
Increasing liability insurance can provide you peace of mind, and it does not cost a lot. Besides, it would cost you a lot less if, by an unfortunate turn of events, you become responsible for an accident.
The Bottom Line
As you can see, there are plenty of ways to get a good deal on your auto insurance. All you need to do is be smart about it and take the right steps. Taking those steps will become easier now that you are completely informed in the matter. So, go ahead and start comparing the policies now.
Photo: Fabian Albert, Unsplash
