The inflated costs associated with car insurance for young drivers can be a major concern, particularly as there as so many influencing factors that can dictate premium levels. While it is always going to be difficult to secure a genuine low-cost insurance option, there are a number of considerations that should be factored in to any policy application.
One major point to consider is whether the young driver will be using their own vehicle or using one driven by their parents. A little-known fact about young driver car insurance is that carriers will provide a premium based on the vehicle in a household with the highest insurance rating. If a young driver is using a 10 year old vehicle with a market value of a few hundred dollars, they will still pay a higher premium if a parent is driving a car that is worth tens of thousands of dollars. In some instances, it can be more beneficial to add a driver to an existing policy and allow them to share a vehicle, particularly if the vehicle is only in the low-to medium value range.
If the young driver is still a student, parents should encourage them to apply themselves to school work in order to gain good grades. Insurance companies reward conscientious students with beneficial premiums as an expression of recognizing responsible tendencies. Good grades can also be complemented by an advanced driving course once a license has been acquired. Once again, this shows a responsible attitude and most insurance carriers will reward this with competitively-priced policies.