Ways to Get Cheaper Insurance for Young Drivers

Your child will soon be taking driver's education and getting a driver's license. Even though you are excited about him or her getting a driver's license, you are probably concerned about the increase in your insurance premium when you add him or her as a driver. There are ways to make the increase cheaper and more affordable.

Young Drivers are a Risk for Insurance Companies

It stands to reason that young drivers are high risk for insurance companies. Their inexperience behind the wheel of a car is one of the reasons insurance for young drivers is not cheap. Make sure that your young driver excels in their driver's education course, both in the classroom and behind the wheel.

Their overall grade point average will have an effect on a young driver's insurance quote as well. Encouraging your child to hold a grade point average of 3.0 or higher can make your insurance cheaper by nearly 40 percent because your insurance company will give you a good student discount.

Enroll your young driver into a defensive driving program. Some defensive driving courses are offered for free, or you may have to pay a nominal fee. The course can make your insurance cheaper by 10 percent or more, depending on your insurance company.

A Cheaper Car Will Decrease a Young Driver's Insurance Quote

Just because your young driver wants to drive a sleek little sport coupe doesn't mean he or she can afford to. The rule of thumb is the cheaper the car, the cheaper the insurance. The primary vehicle the young driver uses should be a standard, small-engine car.

Stipulating to the insurance company that the young driver only drives a certain amount of miles will make the insurance cheaper, too. If the young driver only drives a few blocks to school and a few miles to after-school activities, this can significantly decrease the amount of insurance you will pay.

If the young driver is added to your policy and uses your car, make sure the insurance company rates him or her as an occasional driver. If the young driver must be rated on one of your vehicles, make him or her the primary driver on the oldest, less sporty car.

Enforcing the Rules for Cheaper Insurance

In order to keep your premium cheaper, enforce the rules to make sure your young driver is staying safe and within the guidelines of your insurance policy. Insist that the grade average stays as high as it was to qualify for a cheaper insurance. If you have designated a certain amount of limited mileage, make sure the young driver stays within those miles.

Continue to monitor the young driver's driving habits and ride along, if necessary, to assess their driving skills. Instill how important it is that the young driver obeys traffic laws and speed limits. A speeding ticket could increase your policy quote by about 10 percent.

Teach young drivers to be safe and conscientious when they are behind the wheel of a car. This will not only keep your young driver safe it will keep insurance rates cheaper.

Sources:

The Auto Insurance.com