Challenges of Finding Cheap Car Insurance for Young Drivers


From the moment you receive the bill from the hospital, you know how expensive raising children is. While you may have started a college savings plan for them when they were young, did you consider how costly it would be to include them on your auto policy at 16?

Young drivers are more expensive than older drivers, no matter how much you would like it to be. Insurance companies are well aware of the reasons behind this price differential. Statistics show that young drivers are more likely to be involved in accidents than the rest. Young drivers are less experienced than the rest of us, and insurance companies must take into account this unknown factor. Insurance companies care about risk factors. Insurance companies will offer lower rates if you have a lower risk. However, if your risk is high, they will be able to cover you for more.

This does not mean you can’t find auto coverage that covers your teen driver with a lower price from one company than another. If you have been with the same company for many years, your driving record may be reflected in a lower rate for your young driver. Although this is uncommon, it does occasionally happen and you should take advantage. If this is the case, however, you should shop around to find a lower price elsewhere.

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Your family’s auto insurance policy will cover your teen driver, even if you choose a separate plan. It is reasonable to assume that your teen will continue to drive the family car occasionally. You can save money by searching for affordable auto insurance that covers your entire family. Insurance companies offer many options, so it is important to compare them all. Compare the differences between insuring just the teen driver and the car that he will drive, or all the cars in the family.

If your teen is a good student, you may be eligible for discounts. There may be discounts for those who have completed a certified driver training course. If you have multiple cars on your policy, you will usually get multiple car discounts. Additional discounts may apply if you have homeowner’s insurance through your company as well as any other types of insurance through that company.

There are many levels of coverage available for automobiles. When young drivers’ insurance costs are so high, it is tempting to choose the lowest coverage to save money. This is a bad idea as the minimum coverage might not be sufficient to cover the cost of an emergency room visit in the event of an accident. You will need to ensure that your teen has the right coverage if he or she is buying a car with a loan. If the car isn’t being bought on a loan, you may wish to compare your options and find a compromise. You can find affordable coverage for your teenager by comparing the options.

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