5. “Drive a cheap car, it’s cheaper to insure”
It depends on the current value of your car. Grab a Kelly Blue Book to get an idea the value of your vehicle. If it’s less than a couple of thousand dollars you could drop the collision coverage to reduce your premiums. If you’d struggle to get even a small down payment on a new car together however, then you should probably keep the collision cover (even with a cheaper car) to give you something to fall back on. A cheaper car is also likely to be an older car, and that means fewer safety features like airbags, anti-lock brakes, or any anti theft features which could actually drive up car insurance premiums. Simply put, cheaper isn’t always better. The smarter move is to get the best car you can afford and get hunt around for the best insurance deals you can find. Use our online service to comapre young driver car insurance quotes today!
4. “Just lie about your where you live to get the best deals”
Tempting as it may be to tell a little lie and use your parents address in a nice neighbourhood to minimise your premiums down. If you ever actually have to make a claim and your insurance company finds out that you don’t live at the address given however, your claim will be invalidated, your policy will most likely be cancelled and you’ll be left holding the bill. Is it really worth the risk?
3: “Certain colours attract better insurance rates”
You may have read that red and black cars are more expensive to get insured. The idea is that red and black cars tend to be driven more aggressively and by younger, often male, drivers. Insurers are therefore alleged to place these colours in a higher risk group and hit them with higher insurance premiums. No insurer would ever disclose all the factors they compare when calculating young drivers car insurance rates, but colour is very unlikely to be one of them. Would a red Honda Civic really be more expensive to insure than a brown Chevy Camaro Coupe ?
2: “Just get the legal minimum coverage to save money”
Any reputable insurer would never advise taking out only the legal State minimum coverage to simply save money. Around 40% of all accidents on the road involve young drivers, so your chances of being in an accident are higher. Also factor in the fact that there are more expensive ($50k plus) cars on the roads than ever before, and you’d quickly find minimum coverage just won’t be enough in the event an accident and you could lose more than your car. If you want to save money on young driver car insurance, try increasing your deductible or keeping your mileage down to a minimum.
1: “Get married and save money on your insurance”
Well, you can’t fault the logic – insurance companies do view married people as more responsible, and can often offer them lower insurance premiums, BUT, Is anyone really going to get married to save on car insurance..? There is a much easier way, simply compare young driver car insuance quotes online today.
