Reader’s Question:

I’ve noticed that most cheap car insurance companies offer low car insurance premiums on young drivers. Why is this so?

Bret

Durham, NC

Most cheap car insurance companies are more aggressive in capturing a share of the young drivers segment. While most established car insurance firms shy away from young drivers because of their reputation as high risk clients, cheap car insurance companies realize that at least 30% of young drivers prefer to have their own car insurance than be included in their parents’ car insurance policy.

Cheap car insurance for young drivers, however, is tricky. Just because a car insurance company offers low rates on car insurance premiums does not mean that young drivers should avail of these offers right away. As in shopping for car insurance, it is recommended that cheap car insurance for young drivers be reviewed well enough.

Young drivers should know the features of insurance policies offered by cheap car insurance firms. They should also be wary of the financial strength of companies offering cheap car insurance for young drivers. While it is really enticing to purchase cheap car insurance, young drivers should also be wary of insurance companies which do not have the financial capacity to pay off the claims of their policy holders.

Reader’s Question:

What do I need to get cheap young driver car insurance?

Melody

Cedar Rapids, IA

When the topic of car insurance comes up, young drivers cannot help but shudder. Firstly, car insurance is more expensive for them, because of the unfortunate risks that statistics say they carry. Second, the choice of vehicle suddenly become limited because choosing a high-end brand would mean goodbye to cheap young driver car insurance. So how do you strike a balance between style and security?

Companies who provide cheap young driver car insurance advises newly qualified drivers to be careful in their choice of vehicle. It would be best to stay away from the following:

- Sports cars
- Sports Utility Vehicles (SUVs)
- Modified Vehicles
- High Performance Vehicles
- Luxury cars and sedans

It is recommended that young drivers get station wagons and vans instead of their flashier counterparts. Not only do they have the right size to provide comfort and function, they also deal minimal damage to life and property in case the driver figures into an accident. Remember – the more sensible the option, the more reasonable insurance premiums can be.

Cheap young driver car insurance is not unattainable. Young drivers only need to be responsible in their decisions and conscientious in their search for the perfect provider.

Reader’s Question:

I am trying to find out what inclusions in need in my vehicle insurance. What are the different coverages offered by young driver car insurance policies?

Deena

Omaha, NE

Car insurance, in general, is described as a necessary evil. While the price tag may be a bit more heavier than regular insurance policies, the young driver car insurances is actually a precaution or a security blanket for newly qualified drivers who may figure in vehicular mishaps in the future. It is undeniable that a huge percentage of road accidents are caused by younger drivers and it is for this reason that a comprehensive insurance policy must be availed of – to guarantee that both the driver and its potential victims will be taken care of.

When you find yourself entangled in a vehicular accident, the young driver car insurance immediately takes care of the damage to your car by sending it off to an accredited car repair shop. In doing so, you are assured that your vehicle returns to you in prime condition. Moreover, the young driver car insurance policy covers other incidental damages you incurred, no matter how massive it may be.

There are three different kinds of coverage schemes that young driver car insurance providers offer:

Third Party
The third party coverage is actually the most basic type of coverage that a young driver car insurance provider can offer. It protects you against damages to property, injuries to affected people, and other incidental damages.

Third Party, Fire and Theft (TPFT)
This is a more improved version of the Third Party insurance coverage. It covers the same conditions that the Third Party insurance coverage does but includes compensation for force majeure incidents such as fire or theft.

Fully Comprehensive
The Fully Comprehensive young drivers car insurance policy coverage offers the same amount of protection as the first two coverage schemes but also includes conditions such as accidental damage to one’s own vehicle, loss or theft of personal items left inside the car, and medical expenses borne out of personal injury. Furthermore, the Fully Comprehensive young driver car insurance policy coverage provides compensation for injury and death.

Reader’s Question:

I am a new driver and I am trying to shop around for insurance. What kind of young driver car insurance policies are there in the market?

Josie

Plano, TX

All drivers, whether learning, newly qualified or experienced, need adequate insurance coverage to ensure that they are fully covered and protected for possible accidents and damages. However, the need to get a quality insurance policy is higher for young drivers, given the risks that their inexperience carries. The question is – what kind of insurance should they get? Here are some options for young driver car insurance.

Learner Driver Car Insurance
This kind of insurance is advisable for those who are still learning how to maneuver their vehicles and are still carrying a provisional driver’s license. The learner driver car insurance is advisable for those who wish to keep themselves (and their vehicles) safe while still mastering the mechanics of driving. A word of warning, though – this type of policy is quite expensive, since would-be policy holders are considered as high-risk clients. Make sure that the learner driver car insurance broker you get offers a pass plus discount and can put you in touch with an approved repairer so you can take advantage of a courtesy car, should the need arise.

New Driver Car Insurance
The new driver car insurance is recommended for newly qualified drivers who have recently obtained their drivers license. However, similar to the learner driver car insurance, brokers consider this as another high-risk policy, since would-be policy holders are statistically more likely to figure into a vehicular accident than more experience drivers. Because of this, only a limited number of insurance companies offer this type of insurance because of the possible financial hazards. If you are bent on getting this type of insurance, it would be best to take out the policy under your name in order to start building up on the no claims discounts.

Car insurance for drivers with driving convictions
Because of their inexperience or their disregard for motoring rules, young drivers are more likely to rack up penalty offenses due to over-speeding. Would-be policy holders that have accumulated penalty offenses should expect a higher insurance premium compared to safe drivers, since they are assumed to commit other graver transgressions in the future. The best thing to do is to shop around for insurance brokers that will provide you with adequate young driver car insurance coverage without exaggerating the premiums.

Reader’s Question:

My kid just turned 16 and will be getting his license within a week, how would this impact my car insurance costs here in Florida once I add him under my policy?

Irvin

Jacksonville, FL

Good question. First, let me set your expectations right now, adding your teenager under your car insurance policy would certainly guarantee an big increase in your premiums. Teenagers, as you might be aware of, are not really the best drivers around. In fact, statistics over the years show that teenagers do get into more car accidents than any other age group. Charge it to lack of experience handling a vehicle, lack of sound judgment while on the road, or to simple raging hormones, but teenage drivers posses an inherently higher risk to the eyes of car insurance companies. And as you know, the higher your risk the bigger the premiums that will be charged to you by your insurance carrier.

So now that you know what will happen to your policy with a teenager, lets now talk about how to manage your premiums afterwards:

1.You may be interested in a company that specializes on car insurance for young drivers. They can probably give better rates compared to carriers who cater to the more general needs of the population.
2.Encourage your teen to maintain good grades in school (B or higher) as this qualifies you to get good student discounts.
3.Enroll your teen on defensive driving classes so that he will learn valuable skills in keeping safe while on the road, as well as make you eligible for defensive driving discounts.
4.Shop and Compare! Now is the best time to know what your options are as there may be cheaper policies available for you and your son. You can begin by running free insurance quote checks on this website to help you find a carrier that offers cheap young driver car insurance.