What Is the Best Car Insurance for Young Drivers?

February 8, 2012 3 Comments »

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Insurance Q&A: “What is the best car insurance for young drivers?”

Young drivers often pay significantly higher auto insurance premiums than just about everybody else. This is especially true for teen drivers, and even more so with teen males.

Often, a driver is susceptible to the higher auto insurance premiums until the age of 25.

[Compare rates from the leading car insurance companies in your area.]

[How much is car insurance for a 16 year old?]

So if you’re young, you’ll certainly face challenges when trying to obtain quality auto insurance coverage at a reasonable price.

And while some insurance salespeople may direct you toward the cut-rate, discount stuff, more emphasis should be aimed at ensuring the youngster is “appropriately” insured at the right price.

If you want to know what the cheapest car insurance is, or simply want to know how to get cheap car insurance, don’t bother reading the rest of this post.

Continue on if your main goal is evaluating what the best insurance coverage is for younger drivers.

As always, it’s a good idea to read up on how car insurance rates are determined in order to better understand how much you may be charged and why.

What Is the BEST Coverage – Finances Aside?

Assuming your primary goal is simply ensuring a young driver has “the best” (appropriate and well priced) insurance coverage, you would treat a young driver no different than a driver of any age.

Being young certainly doesn’t exclude you from getting into accidents and causing bodily injury and property damage to others. In fact, the odds are much higher such events will occur…thus, the higher insurance premiums.

It is also important to understand that any individual who is found to be negligent in causing bodily injury and property damage to others can be “on the hook” for court awarded damages in excess of their policy limits.

This means that if you go with lower-end liability coverage and seriously injure someone and “total” his or her Ferrari, your insurer will ONLY PAY up to the policy limits.

The rest of the damages awarded to the Ferrari driver (hospital bills and replacing the Ferrari) could be your problem. If you’re broke and have no fear of being sued, this may not concern you.

[How much car insurance do I need?]

But if you are a younger driver with a statistically higher chance of causing an accident (and something to lose), you may want to consider purchasing the highest liability limits available that fit within your budget.

Tip: The decision to purchase full coverage, including collision insurance and comprehensive insurance, is dependent on the value of the vehicle to be insured and whether or not you own, lease or have a loan on the vehicle.

[Collision vs. comprehensive auto insurance coverage]

Final Word for Young Drivers

It is always recommended that you purchase the highest liability limits you can afford, young driver or old. Be sure to consider insurance at the top of the list as far as budget goes.

Skimping on your car insurance coverage to save a few bucks can have devastating financial ramifications in the event you are found to be negligent in a serious auto accident.

Compare insurance quotes online before making a decision. Even a young driver will see a wide range of pricing, so if you don’t shop around, you could find yourself losing out on coverage to stay within budget.

There are literally thousands of insurers competing for your business. Do your research and don’t choose an insurer based solely on their multi-million dollar advertising budget.

Find one that best suits your needs, and remember to shop again once you get a little older, instead of staying “loyal” to one insurer your entire life!

Read more: The difference between full coverage and liability only car insurance.

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  1. Kellee March 8, 2014 at 11:58 am -

    Thanks for the tip. I shopped around after being “loyal” for years and found a much cheaper policy with the same limits and coverage!

  2. Melvin March 21, 2014 at 2:10 am -

    Young drivers are statistically proven to get into more accidents and file more claims, so buying more insurance is a safe bet to avoid major liability. But note that insurers know this and charge an arm and a leg accordingly. The best thing you can do is drive carefully.

  3. Judy March 31, 2014 at 11:48 am -

    If you’re a young driver subject to really expensive premiums, perhaps the best thing you can do is drive a less expensive car. That will at least save you on physical damage costs. Skimping on coverage is never advised.

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