Cheapest Auto Insurance for Young Drivers

A teenagers piggybankTo find cheaper insurance premiums, young drivers can compare rates from a variety of companies online. This allows a youthful driver to locate the cheapest quotes much quicker than the old method of contacting each insurer directly for a quote.

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There are companies out there that offer affordable premiums to teenagers, even if members of this group are considered to be a higher risk due to a lack of driving experience; the key is just to locate them. The cheapest insurer is not something someone else can tell a driver because each motorist has a unique combination of risk factors. Teenagers who drive will have to compare quotes from multiple companies at the same time to see the big picture and to easily find those insurers offering affordable coverage.

Why can the cheapest insurer differ for each young driver?

Two teenage drivers may be offered cheap rates by a different carrier because factors such as the following have an impact on price:
  • location
  • driving record
  • gender
  • type of vehicle
  • coverage
It's common to hear a young driver suggest a certain carrier who offered them reasonable prices only to find out that it wasn't the same case for you. This can be for many reasons; maybe they both have different cars or maybe one may have less than 3 years driving which is sort of a breaking point for getting the "good driver" discount.

Drivers with less than 3 years driving:

New drivers who have not had their license for at least three years may not qualify for the 20 percent good driver savings; however, some companies out there will honor the discount at age 19 because they may use age 16 to calculate driving experience automatically. To ensure cheap insurance:
  • Take advantage of premium reductions for:
    • continuous insurance coverage within the last 30 days
    • short commute to work or school
    • good grades in school (may need proof)
  • Consider higher deductibles when adding physical coverage to a vehicle
  • Avoid unnecessary coverage such as "collision" if the vehicle's value is insignificant
  • Take a look at this video on how to find the cheapest auto insurance online
  • Consider having the monthly payments automatically withdrawn from your account to reduce billing fees
  • Avoid billing fees entirely by paying premium up-front (3 months, 6 months or one year at a time)
teen students

Completion of a safe or defensive driving course may also entitle younger motorist to a discount. Aside from the savings of premiums, this can be very valuable because such classes teach youths how to operate their vehicles safely which will help them stay safe behind the wheel.

For more information, see our resource page about auto insurance for teenagers with more articles and frequently asked questions or view this article about cheap car insurance for young drivers for more details.

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