No matter how sad and unfair this might sound for teenage drivers, but they are likely to pay the highest insurance premiums compared to other age groups just because they are considered to be drivers posing the maximum risk on the road. Still, there are certain ways the teen drivers can get lower insurance rates: taking special defensive driving courses, modifying deductibles, buying other insurance products from the same company or purchasing a car that is considered to be safer.
Tips on saving with reduced insurance rates
One of the easiest and most direct ways of getting lower insurance rates is purchasing a car that has additional safety features like front and side airbags, special seat belts, antilock breaks and so on. The majority of insurance companies offer special incentives on such safety features and such cars are generally far less costly to insure. Another way to cut your insurance premiums is to join an official drivers club like American Automobile Association (AAA), or speaking to your employer about special discounts he or she can offer to you as a corporate entity.
In case you have a rather old car, it may be a wise choice to go off without collision and comprehensive coverages included in your policy. These types of coverage impose you to pay a certain deductible when filing a claim, and the amount of money to be paid can sometimes be larger than your car is worth.
Your marital status also affects insurance rates and you will see it clearly if you are engaged or were recently married. This is simply because married individuals are regarded to be less risky by insurers. When you turn 25 years old, you can also expect a drop in insurance rates, because this age is regarded as a border-line with young adulthood and drivers over 25 are considered to be less aggressive and risk-posing.
Living with parents
In case you live with your mom and dad and don't have your own vehicle, it's wiser to stay with their policy as they typically have far better insurance rates as older adults. Still, when you buy your own car, most insurers will impose you to sign off from your parents' policy and get one own your own in order to avoid any misunderstandings with vehicle property.
Financial situation
In order to save some money with auto insurance, it is recommended to see what other insurance policies you have provide. For example, having a health insurance plan can help you drop Personal Injury Protection (PIP), making it to pay for medical bills resulted from traffic accidents. Sometimes your insurance company can offer you a lower premium for limiting the amount of your medical damages with uninsured motorist coverage.
Just have common sense with cutting your insurance coverage for the sake of saving money. Ending up in a serious car accident with low coverage limits will result in far more significant spendings that you could save with cheap auto insurance.
Don't forget that the best way to get a cheap auto insurance deal is to get quotes online. Shop around, compare the offers, because rates vary significantly from one company to another.
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