Once the license is obtained, the second challenge for the young driver is to find auto insurance at an affordable price. Although mandatory, it is often very expensive, because insurers apply a surcharge early years. To find the best price of car insurance, first set the status of the young driver: primary or secondary? If he drives punctually, parents just have to contact their insurer to name their child as a secondary driver. Check that the company will record a bonus though. Subsequently, when the child has his own vehicle, he will be entitled to the insurance status of the driver.
When planning to drive regularly, however, it will opt for the status of main driver. In this case, it is often wise to opt for a used car, low power. Indeed, the amount of the insurance premium largely depends on three factors: the value of the vehicle, its power and guarantees subscribed. Owning a used car will also usually reduce the guarantees. Finally, it is good to know that the period of “young driver” expires after about three years of insurance. During this time, it will reduce his premium every year if he has not made a claim in which liability was incurred. Profile becomes more attractive to insurers, making play competition each year; it is possible to make great savings, by getting cheap no deposit car insurance.
When you are a student, you do not necessarily rolling in gold … Yet insurance companies continue to raise their offers “young driver”. For any driver, holder of a driving license for less than 3 years, the contribution of the insurance contract may be overtaxed and achieve an increase of over 100%. The bonus / malus coefficient calculated from the Revaluation of contributions directly affect the premium paid for the contract for the following year.
The color of the car
The color of the car also falls into play: insurers have even calculated that the gray car had statistically fewer accidents than those whose painting is alive. Users, hold it: a red car can cost you a premium of 5 or 10%!
A golden rule: the premium is based on the risk
The insurer is therefore based on an average rating of risks for the driver. Therefore, the premium payable by the insured considered “at risk” will be raised. Young people are the main stakeholders; young drivers are statistically more likely than other drivers, inexperience or unconscious behaviors related to the speed and appetite for risk, are parameters that lead to a higher risk of loss. In fact, only 9% of the population, the age group 18-24 years shows about 22% of fatal road accidents. In view of these statistics, it seems justified to compel young drivers to pay a premium for insurance. However, it is regrettable that there is no system more flexible in the U.S to reduce the cost of insurance. It is true that car insurance is a significant investment for a young person.
Originally posted 2016-02-23 03:22:09.