There is no escaping it – young inexperienced drivers often pay much higher for car insurance than more experienced drivers. But fortunately there are means to lower your premium. Read on for the best car insurance firms for young inexperienced drivers.
Young inexperienced drivers, also known as new drivers usually don’t have a driving history and have very poor credit ratings. In addition, they belong to high risk categories which means insurers increase their premiums. Also, because these drivers do not have a driving history and bad credit, they are considered by insurance providers as more likely to get into accidents at higher rates. Even though these drivers may be in a financial crisis, they cannot help but to try to get better.
Car insurance for young adults with poor credit scores usually has high rates. The reason is that insurers see people with poor credit scores as high-risk drivers, just like drivers who have bad records or have bankruptcies. As a result, insurers increase their premiums for everyone in this group. On top of this, if you get caught in an accident or get a traffic violation, you will suffer from higher rates. This is due to the fact that you are considered a bigger risk than more experienced drivers and insurers perceive this as a sign that something may go wrong in the future.
Young inexperienced drivers can reduce their premiums by getting collision and comprehensive coverage. Collision coverage will protect them in the event of an accident and comprehensive covers them against all damages and costs. Getting both of these policies at the same time will allow them to insure for a reduced rate.
To find the most affordable insurance for young adults, consider purchasing a policy that offers no fault coverage. Policies that do not include this option will be the most expensive. The reason is because you do not have an attorney to sue for an accident. This option will lower your premium, but it will not offer you any kind of repair service should you get into an accident. This might cost you a bit more each month but it is definitely worth it.
If you are looking for the cheapest coverage, consider getting a liability only policy. These policies will not cover any damage to your vehicle and you will be responsible for the cost of repair for any damage you cause to someone else’s vehicle. The good news is that many young adults need this type of coverage because they are new to driving. The cost of adding liability only coverage is very low and it will give you peace of mind knowing that you and your vehicle are protected. Plus, you will have protection against excessive speeding fines that many young drivers end up with when they exceed the speed limit.
Do not let the cost of car insurance keep you from buying a new car. Even though it may be more expensive for you, consider taking a cheaper alternative. The auto insurance premiums paid for younger drivers can be reduced if they agree to take a driver’s education course. You will pay a little bit of money upfront but in the long run the cost will be very little more than the price of a new car. In addition, some insurers offer discounts if you are willing to take driver safety classes as well.
Believe it or not, you can save even more money by purchasing a state farm vehicle. In fact, you can receive a one hundred percent discount if you purchase a newer model from the manufacturer. The reason is because many older models are less safe and are less secure. For this reason, your insurer will provide you with a much lower rate. In addition, they will provide you with roadside assistance and other benefits that are designed to keep you safe.