Ways To Save With Young Drivers
Anyone who has had a child of driving age knows all too well the significant cost surrounding their child’s newfound four-wheeled freedom. Young drivers cost a significant amount of money on an insurance policy. The reason for this is their inexperience. Young drivers make mistakes, and when you are driving a vehicle, those mistakes can be costly. With that said, there are ways to help mitigate the cost of adding your young driver to your insurance policy. See below for some common discounts associated with new drivers.
Advanced Driver Training-This is a program that goes beyond what new drivers learn in their driver’s education classes. They get hands on experience in fast braking, maneuvering a vehicle with anti-lock brakes engaged, and much more. These programs can cost a little money, but you can get a discount with some carriers if your new driver completes one of these programs. More importantly, they will better understand how a vehicle works and what to do in a sudden unexpected situation.
Good Student Discount-This discount is offered by many insurance companies for new drivers who are full-time students. They typically must carry a 3.0 GPA or better to qualify for the discount. Most carriers require a copy of an official transcript before each renewal in order to add the discount.
Student Away At School-This discount is offered by some carriers for those new drivers who are at school 100 miles or more away from their home. This allows the policy owner to receive a break on premium while their new driver is not using a vehicle and is too far away from home to pop in at random and take the car for a spin.
Low Mileage Discount-While this discount is not geared toward new drivers, it is still worthy of mention here. Most young drivers who have their own vehicle putt around town and do not rack up the miles the way a working commuter would. It is a good idea to keep track of those miles on their car to see if they qualify for a low mileage discount with the insurance carrier.
Although these discounts may not completely offset the financial impact your new driver will have on your insurance policy, they can help take the sting out of that premium increase. Be sure to check with your auto insurance carrier to see if they offer these or any other discounts that may help keep your auto insurance premium at a reasonable level. Are there any other discounts or ways to save that you know of? Please share in the comments section below.