Young auto insurance buyers have some challenges when it comes to finding affordable coverage. People who have recently been licensed are more likely to be involved in motor vehicle accidents and make claims against their policy. For that reason, they tend to be charged higher rates for their coverage, and young men pay the highest rates of all.
Once a young driver has celebrated his or her 25th birthday, auto insurance rates should start to come down. In the meantime, there are some things that a young driver can do to avoid paying more than he or she has to. One way to keep costs down is to successfully complete an approved driver’s education program. Many car insurance companies offer discounts to customers who fit this profile.
Young people who are living at home can save on the cost of their auto insurance coverage by being added to a parent’s existing policy. This is a much more economical choice than buying a new policy with the young driver as the primary insured. The young driver can stay on a parent’s or other adult’s policy until he or she moves out of the house to save money.
A number of car insurance providers offer discounts to good students. Maintaining a B average or higher can mean that a young auto insurance buyer can qualify for better pricing on his or her coverage.