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Wednesday, August 19, 2009

Cheap Car Insurance for Young Drivers

By Mike Smith

If you are searching for cheap car insurance for young drivers, you're quite simply not going to find it because it doesn't exist. No matter what, from the start, premiums for a teenager will be in the $1,000-$2,000 range. Because teenagers are more likely to die from a car accident than from anything else, insurers give them high premiums to make up for this high risk.

Despite the fact that auto insurance for young adults is expensive, there are ways to save on it and make it cheaper...

If the teenager or young adult is on the same policy as a parent, the insurance costs will be lower because the teenager is associated with someone who has a stable income and a good driving record.

Increasing your deductible is recommended if you want to save on auto insurance in general. However, because rates for teenage drivers can be really expensive, increasing the deductible can really ease the pain.

When increasing the size of the deductible, you don't want to expose yourself to too much risk. You want to increase the deductible to a reasonable point, but not to a point where you start wondering why you have car insurance in the first place.

Teenagers may get a discount on their car insurance if they enroll in drivers ed or some other class or program for young drivers.

If you happen to have multiple cars on a policy, you have to make sure that the young driver is assigned to the most inexpensive car (just make sure that they drive it). Some insurers make it a practice of assigning teenagers to the most expensive cars. If the teenager can't be reassigned it is highly recommended that insurers be switched.

Whatever you do, do not report minor accidents to the auto insurer as rates can skyrocket. You can easily repair damage done to the car yourself by going to the junkyard and getting a replacement part.

There's a reason why most teenagers drive used cars. If they were to insure a new and expensive car, their car insurance premiums would be through the roof. The cheaper the better.

The teen can apply for a good student discount if he or she has grades that are at least above a B average. Statistically, students with good grades are more responsible and less likely to get into car accidents. - 23211

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