Many people are concerned about today’s economy. With that anxiety, many are trying to get the most for their money.
We are now faced with a very important dilemma. It is very common for families to have young, teen drivers in their household.
Many parents want to know, “How do you get cheap car insurance for young people?” Now trying to find “cheap” insurance is a bit tricky. As always, you get what you pay for. It is very important to try and get the best coverage you can within your budget.
Important Factors To Keep In Mind
There are a few things to keep in mind when purchasing auto insurance. The following can have an impact on your premium:
- Make and Model of Vehicle
- How long the driver has been driving
- Drivers Record within the last 36 months (including minor violations, i.e. speeding tickets, accidents)
- Type of coverage desired ( Full Coverage vs Liability)
Above all, safety is the most important. However, it is very important to consider the above when searching for the best rate.
What Can I Do To Lower My Rates?
Instead of trying to get “cheap”, try to find ways to lower your premium. Most parents are very proud of their children and they want to reward them for their hard work. Some parents consider purchasing their children a brand new car. Some unknowingly purchase vehicles that are classified “fast cars” or “sports cars”.
Thinking of buying your kid a fast car? Why not call your insurance company and see how the car is classified, BEFORE you buy it? Also, get a quote while you have them on the phone to get an idea of how much the premium would tentatively be.
Remember, the longer your child has been driving, the better. The more experience they have, the cheaper the premium will be. Some parents have elected to purchase an older vehicle and rate the young driver on that vehicle. As with most policies, when they are rated on one vehicle, they are permitted to drive any vehicle in the household that is covered. So, if they are going on a special date and you want to turn YOUR keys over for the evening, you can be at ease knowing they are covered in case of an accident.