Congratulations! Your first car. It’s an exciting time for any new driver. So many places to go and of course, a newfound sense of freedom.
But if you choose the wrong car insurance, you could be setting yourself for a lot of problems in the future.Problems that could prove to be costly.
So if you’re in the market for car insurance for new drivers, keep reading. We’re going to show you how to lower your rates.
How to Save on Car Insurance for New Drivers
Most new drivers tend to be teenagers. While they actually drive less than everyone but the elderly, kids between the ages of 16-19 are three times more likely to crash than an adult over the age of 20. Those high statistics heavily impact car insurance rates.
But while parents can expect car insurance rates to be higher for their teenagers, there are still ways to save. Here’s how.
Comparison Shopping
When looking for car insurance for new drivers, it’s vital to do some comparison shopping. Not all insurance companies offer the same rates and coverage.
Compare at least three insurance companies to see which one can cover your needs at the best rates.
For those in the market for a new car, remember these factors will be considered into the price of your car insurance.
- Price of car
- Cost to repair the car
- Safety record of the car
- Likelihood of the car being stolen
Look For Discounts
Discounts provide you with the ability to lower your premiums. Here are some factors that will help you lower your rates.
- Age and gender
- Taking a safe driving course
- Good credit
- Low mileage discounts are often offered to those whose annual mileage is below the norm
Anti-theft devices, motorized seatbelts, and installing a device that monitors how you drive are all safety features that car insurance companies may provide discounts for.
Higher Deductibles
If you have a decent driving record, then it might be worth it to opt for higher deductibles. Since most policyholders place a claim once every 11 years, it’s a relatively safe chance to take.
Even choosing a $1,000 deductible over a $250 one can save you between 25% and 40% on your policy. You can then take those savings and place them in the bank to cover any costs in the event of a claim.
Bundled Insurance
Choosing an insurance company that offers more than one type of insurance can often mean more savings for you. More reductions might be offered if you insure more than one car with the same company.
Bundled insurance deals are also sometimes offered to drivers who get their plan through a group plan. These types of plans include:
- Your employer
- Professional or business groups
- Alumni groups
- Associations
Be a Responsible Driver
Car insurance for new drivers won’t be low in the beginning. This is because they don’t have a track record. So, the cleaner your driving record remains, the lower your rates will be.
Being a safe and responsible driver is a responsibility everyone at any age should take seriously. While lowering your car insurance rates is great, knowing your family is safe behind the wheel is priceless.
Amistad Insurance is about providing honest, dependable, and customer-oriented services to the Raleigh community. Contact us today for a quote on your new driver’s insurance.
