What can young drivers without experienced co-signers do to lower their car insurance costs?
Adding a young driver to an existing car insurance policy with an experienced driver is cheaper. If a young driver doesn't have that option, what are some ways to ensure they get the best rates?
What are some strategies and tips I can use to help a young driver secure the best car insurance rates, especially if they’re not able to be added to an existing policy with an experienced driver?
Answer
This is a big challenge for younger drivers, who, as a group, statistically have more unfavorable driving records (according to insurance company data).
If you are younger than 25 (for whom even getting a rental car can be a challenge!), try the following things in order to lower your car insurance rates potentially:
- Shop around. Different insurance companies offer different rates for younger drivers.
If applicable, look for discounts for a good academic record (GPA).
- If you are convinced that you are a safer driver than other younger people and you think the odds of an accident involving you are relatively low, consider having a higher deductible, which should lower your rates.
- If you are a safe driver and don't mind providing data on your driving performance, agree to a driving tracking program offered by many companies that automatically tracks your driving habits. This will also lower your rates.
- Do you have a choice to drive a particular car brand or model? Here are some cheaper models to insure.