| If you are a teen, or are insuring one, you are by | | | | can have low or even nonexistent collision coverage. |
| now aware that teen drivers are more expensive to | | | | If the vehicle is financed however, the lender will |
| insure than a 55 year old woman who owns an 18 | | | | demand collision coverage. |
| year old Taurus, and has a perfect driving record. For | | | | Be careful about taking your coverage too low on |
| that matter, teen aged drivers are more expensive | | | | medical and liability, though. You could be inviting |
| to insure than almost any other driving group. It | | | | bankruptcy or a serious financial problem if your teen |
| comes down to one simple fact; statistically, teen | | | | is involved in a crash with serious injuries or |
| aged drivers are far worse than the average in | | | | expensive vehicles. |
| terms of accident rates, injuries, and fatalities. | | | | Take advantage of any possible multi line discounts - |
| That is enough to make the actuaries at any | | | | Insurance companies traditionally offer discounts for |
| insurance company feel a bit flushed, and with good | | | | having different kinds of insurance with them, For |
| reason. Their company has to pay the claims against | | | | example if you insure a motorcycle with a particular |
| any of their insured. On one hand, they want the | | | | company, insuring your car with them will likely mean |
| business, because the auto insurance business is very | | | | that you'll pay less for both the motorcycle insurance |
| competitive, and a young driver that becomes a | | | | and the car insurance than you would if you |
| customer now may well stay with the company for | | | | purchased either policy by itself. |
| their entire life. | | | | Compare rates among different companies - |
| That can't change the fact that however badly they | | | | Different companies view different risk factors |
| want a lifetime revenue stream, their chances of | | | | differently and different companies have different |
| paying on a claim because of young mr or miss are | | | | expense and business structures. That means no tow |
| much greater. That means one thing to the software | | | | companies will have the same rates. What's more, |
| used to set the insurance rates; said rates have to | | | | companies will have different rates in every situation. |
| be higher to offset the increased risk level. | | | | That means just because company A is cheaper than |
| Here are some easy ways to help make sure you | | | | company B for a particular driver driving a particular |
| get what passes for cheap auto insurance for your | | | | car in a particular city, that doesn't mean they will |
| teen. | | | | automatically be less expensive for a different driver |
| Choose the proper car - This is a biggie for a couple | | | | in a different set of circumstances. |
| reasons. Cars a re priced differently by insurance | | | | Complete a safe / defensive driving course - Many |
| companies due to factors such as engine size, theft | | | | insurers will grant discounts for young drivers that |
| probability, safety features and rating, and price. | | | | have completed defensive driving courses. Note that |
| Check with your insurance agent before you buy a | | | | that does not mean you'll pay lower rates because |
| car. For example, a 2007 Corvette can cost around | | | | you spent the weekend at Skip Barbour or went |
| $5,000 a year to insure in California, while a 1997 | | | | through the Richard Petty Experience the last time |
| Buick Regal will cost about 1/5 that much or even | | | | you were in Vegas. |
| less. | | | | Pay your premiums either bi-annually or annually - |
| Keep deductibles high and coverage low (a great | | | | Most insurance companies have discounts if you pay |
| reason to buy an inexpensive car) - There is no | | | | a whole year's premium in advance. At the very least |
| reason to keep your deductible low, because you do | | | | you should save the fee many charge when you pay |
| not want to file a claim for minor damage to your | | | | monthly. Investigate the possibility of getting a |
| vehicle anyway, lest your rates increase even further. | | | | discount for having the premiums automatically |
| Set your deductibles as high as possible, typically | | | | deducted from your checking account. |
| about $1,000, and you'll pay less for your insurance. | | | | These are all excellent ways to get cheap car |
| You should also keep your comprehensive and | | | | insurance for your teen. Make good choices on the |
| collision coverage low on your car. That is another | | | | road and before you set out on any journey. Your |
| reason to drive a fairly cheap car. You or your teen | | | | insurance rates will be lower because of it. |