If you’re a young driver who wants to insure your car so that you can finally get out on the road, you may have found that the costs of this type of coverage can often be incredibly high. Unfortunately for those in between 16 and 25, insurance premiums are typically higher than for those of any other age group – and often by a considerable amount, too.
Why does car insurance cost more for students?
Generally, there’s good reason for an insurer to increase the cost of a customer’s coverage based on their age. In most cases, policies tend to be higher because statics show insurance companies that younger drivers are less responsible on the road in comparison to other demographics, and this is thought to be due to a lesser amount of experience.
Research shows that car crashes were the leading cause of death for teenagers, but that’s not all. Teen drivers in between 16 and 19 are three times more likely to be involved in a fatal crash than drivers who are 20 and over. For these reasons and more, insurers see young drivers as a higher risk – which is why premiums tend to be so much more expensive.
While this doesn’t help students who want to find an affordable auto insurance deal, the good news is that there are quite a few providers out there that are aiming to offer good coverage with a more attractive price-tag.
Cheapest car insurance companies in the U.S for young drivers
To get the ideal insurance policy, it’s usually a good idea to take a look at which providers offer the best deals for young drivers. Some of the most popular among student drivers are:
- Liberty Mutual
- State Farm
On average, premiums lasting 6 months with these companies range from as little as $300 to $3000 – although the figure you are offered can vary depending on a wide range of different factors (for example, how long you’ve been driving and the model of your car will often be taken into account).
Getting a range of free, no-obligation quotes and comparing the prices and services on offer can be the best way to find the right insurance policy for your needs.
Ways for a student driver to save on their coverage
Fortunately for those who want to save as much cash as possible on their premiums, there are also quite a few ways to reduce these rates. In most cases, you can:
Enroll in a driver safety course
By completing a driver safety course, of which there are many available to younger drivers, you could reduce your car’s insurance rates by a considerable amount (you could save yourself up to 20%). Because of this, it’s often a great opportunity for young drivers to prove that they’ll be careful on the road and therefore more reliable to insure.
The black box policy
If you’re a good driver and don’t mind having your insurer monitor your daily habits, it may be a wise idea to choose a black box policy. Officially known as a telematics box, these devices allow your insurance company to see how you drive; from how aggressively you accelerate and brake, to how fast you drive.
This can give them the opportunity to see how responsibly you drive – and in most cases, drivers who do well are more likely to be rewarded with discounts.
Search for teen driver discounts
There are several kinds of discounts out there for students and young drivers; all of which are likely to save you a good deal of cash on your insurance premiums. Because of this, it’s often a wise idea for those who want a cheaper insurance deal to take the time to shop around to see what kinds of deals and discounts are available.