Post by David Held
Many parents are frustrated in regards to why automobile insurance for their children is so expensive. It is a fact that young drivers are inexperienced and more likely, than an adult, to get into a fender bender or even something worse. However, not all insurance companies have the same rates for the same insurance coverage; one must get competing quotes before buying. Questions that parents are asked include; what is the driver’s gender, age, address, purpose of driving, and type of vehicle. The answers impact the quoted rate you receive. For example, statistically males have a greater tendency to speed and a higher accident rate than females, thus warranting the insurer to give you a higher quote. In order to find the cheapest rate you must be online comparing each and every company’s rates and coverage limits.
One way to reduce rates for young drivers is to have them take their states driver’s education course. Showing a driver’s education completion certificate to your insurer helps reduce your rate! Also, defensive driving can deduct up to 10% off your annual auto insurance bill. Even if you do not have points on your license, from “run ins” with the police, defensive driving shows insurance companies you are taking a step in the right direction in trying to become a safe driver.
All in all, there are definitely ways to keep your auto insurance bills to a minimum. You just have to be willing to take the time and to do the research!
Sources #1, #2, #3
I found this article very interesting because it is something I can relate to personally. Although I have taken all the steps mentioned to reduce my auto insurance, I believe there is still one step missing. In most high schools, after you pass your driver’s license written exam you are given a certificate of your score (the score must be greater than or equal to 80). After you take this to the DMV and get your license, it is smart to keep a copy on hand to show your auto insurance company. The higher your score is the better the chance you have of getting a lower premium rate.
ReplyDelete-Shawn Chandok
Thanks for the info Shawn. Education courses can reduce the cost of auto insurance. I get advertisements in the mail from the local driving school about courses that will reduce points and auto insurance by up to 15%
ReplyDelete-Ahmed
No problem, just make sure you're not going 60 mph in a 30 next time because no amount of discounts can save you then.
ReplyDelete-Shawn