Young car insurance buyers pay some of the highest rates for their coverage, but that doesn’t mean that there aren’t steps they (and their parents) can take to reduce coverage costs. Teens and young adults pay more for their coverage because they are riskier to insure. Insurance companies are well aware of the fact that young drivers are more likely to be involved in accidents and they charge more to cover drivers who present a higher level of risk.
The cost of taking out a new policy for a young driver will put a significant dent in a family budget. A better choice is to add a teen or young adult onto an existing policy. A parent, grandparent or other licensed driver in the household can remain the primary policyholder and the new person would be added to the policy as an occasional driver. The cost of coverage will go up in this situation, but not as much as if a brand new policy was purchased.
Having a new driver in the household is the type of life change that warrants getting quotes from a number of car insurance providers. Pricing does vary, depending on the company involved, and by shopping around, young car insurance consumers in TX can avoid overpaying for this necessary protection. Asking about available quotes for coverage is another way to save money; a number of companies offer discounts to good students (young people with a B average or higher) or young drivers who have completed an approved driver’s education class.