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Since one out of three young drivers gets in an accident
each year, drivers under age 25 are usually classified
as high risk.
Shop Around:
Although
full-time students usually can be added to their
parents' auto insurance policy, some companies are
more responsive to young drivers than others and the
cost of adding a youthful operator can vary significantly.
If you are under age twenty-five and are shopping for your own policy, or if
you are a parent adding a teenage driver to your family policy it
might be a good time to shop around. Insurance Alternatives
offers very competitive rates in both situations.
Most Expensive Scenario:
The young driver has accidents
or tickets and is the full-time operator of a late
model, high profile or expensive vehicle. [Remember,
if there are three vehicles in the household and
the young driver is the third driver, he/she will
be considered the principal operator on one of
the vehicles, sometimes the most expensive one.]
Least Expensive Scenario:
The young driver has a clean driving record, qualifies
for discounts, and is a part-time operator of an older
model, standard vehicle with no comprehensive or collision
coverage.
Separate Policy?
Some companies won't insure high-risk
drivers or will insure young drivers only if they
are added to a family policy. Other companies specialize
in high-risk drivers, but their premiums are usually
much higher than for average or low-risk drivers.
If the young driver has his/her own car, the parents'
company may sell them a separate policy, but usually
at a higher rate than the parents pay. Higher
premiums aside, one reason for putting young drivers
on separate policies is that their accidents and
tickets will not affect the family premium
Discounts
Many insurance companies offer discounts
to young drivers who have passed an approved driver
education course or who have a "B" grade average or
better. There also
may be discounts for a young driver away at school.
Have proof of driver education courses and grades when
you apply for insurance.
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