Cheap Car Insurance Tips for Young Drivers

Cheap car insurance rates can be difficult to find for young drivers; however, there are some tips to lower the high premiums

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CheapCarInsurance.org

Jan 05, 2011, 08:05 ET

LOS ANGELES, Jan. 5, 2011 /PRNewswire/ -- Especially with the current economic situation, families are looking to save money in any way they can. As children grow into teens and want to get their driver's license, the family budget is tightened further due to the high premiums for young drivers. There are ways to find the cheapest car insurance rates for young drivers. Here are some tips to keep costs down.

When getting quotes for cheap car insurance, parents should tell the agents they speak to that they would like to add the young driver to their policy as an occasional driver. By having them on their own policy or as the principal driver, the auto coverage rates will be much higher. The principal driver is the person who drives the vehicle more than half the time.

If the teen has their own car, they should be aware of how the type of car affects premiums. The more expensive, sporty and high-performance a vehicle is, the higher the premiums will be. The cheaper, safer and older cars will be considerably less to insure. They should look into cars with automatic safely belts, airbags, anti-lock brakes and anti-theft devices.

If the teen does not live at home permanently, because they are away at boarding school or college, they can find cheaper car insurance by not using the car as often. Many insurance companies will offer good student discounts that have eligibility requirements surrounding the student's GPA. To get cheap car insurance for young drivers, they can also take state required courses and certified driving lessons to lower premiums.

If raising the deductible on a policy can fit into the family budget, this should be considered to save on monthly premiums. Collision coverage can also be dropped if a vehicle is older and would not be worth repairing or replacing if in an accident or stolen. However, liability coverage should never be dropped for this group of high-risk drivers. Bodily injury liability covers medical expenses and legal fees that can occur from an at-fault accident. Young drivers should have at least $100,000 per person and $300,000 per accident. For property-damage liability, families should consider at least $50,000 coverage.

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