How to Save Money on Your Insurance – Younger Driver Discounts

If you have kids, or YOU are under 25, then you know how much these discounts mean to you. They are like GOLD! Well, like money anyways. Drivers under 25 are a huge risk. Many more accidents, tickets, injuries, for this population than any other age group. In fact, as of the creation of this ebook, the number one cause of death for teenagers is…driving. That is a HORRIBLE statistic, but a factual one. I urge you, if you are a parent reading this, take your child’s driving seriously. They need to be safe and take the responsibility seriously.  Because of the fact that younger drivers have so many more incident, their rates are much higher. Having a 16 year old insured on a brand new vehicle with full coverage can be incredibly expensive. However, if the younger driver demonstrates that they are less of a risk, the insurance company with reward them with lower rates. How can they demonstrate that they are a lower risk? First of all, don’t speed. No tickets on the record is a great start. Some companies have their own safe driving program for new and younger drivers as well. Watching a video and filling out a driving log with their parents are just two common aspects of such a program. Once it is completed, it shows the effort of the younger driver to take this responsibility seriously. Here is the kicker: Oftentimes this discount is not even eligible to achieve if the driver has ANY infractions. No tickets, no at fault accidents, NONE. What if an insurance agent asks to see your child’s report card? Well, if they get good grades, let them! They could be eligible for a good student discount! It turns out, younger drivers who get a “B” or better average in school have much safer driving habits than those students who do not perform as well. I have found, that if a new parent makes his child pay for at least part of the insurance premiums, and they show them how much less they would be paying if they were able to get this discount, their grades dramatically improve. To sum up, clean driving record, safe driving program, good grades all add up to much lower premiums.

Photo credit/Flickr/Leonid Mamchenkov

Photo credit/Flickr/Daniel Diggens

This entry was posted on Saturday, July 25th, 2009 at 3:00 pm and is filed under article. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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