Reducing The Price paid Of Auto Insurance For Young Drivers
Many kids get their first taste of freedom behind the wheel of an automobile – usually your motor. Car insurance costs for young car drivers are just one of the areas in which they might ask for a helping financial assistance. There are various tricks to reduce the high costs of auto insurance for new car drivers. In the past you could have started by trying just to have daughters, with younger women drivers historically being much cheaper when it came to car insurance than their male counterparts. On the other hand recent EU rulings mean that prices are likely to balance out for men and women in future years.
Cutting price with Pass Plus
Male or female young drivers will be keen to jump behind the steering wheel as soon as they pass their test. By refusing to give them access to your automobile – or one of their own – until they have taken a ‘Pass Plus’ course, you will be able to make a considerable difference in the price of their (or your) car insurance. Most insurance companies should give a discount for younger drivers who have finished this additional driving exam. Apart from the lower cost of car insurance it also builds a new drivers confidence and for many concerned parents, it provides reassurance that their kids are better prepared for the open road.
Has anyone seen my no claims bonus?
If you add your teenagers to your own insurance policy, there is a higher risk that you may have to say adios to your no claims discount. However, adding young drivers to your own automobile insurance policy is an choice that is definitely worth considering. Even if you succeed to keep onto the Discount, adding younger family members will increase the amount of your own insurance deal, but it may reduce the general cost of the automobile insurance bill for the household. You could review the situation every year of course, as the renewal date looms. The longer they have been driving – accident free hopefully – the cost of their insurance will start to come down.
Buy them a car, go on you know you want to! Though make sure it’s not brand new. There are two advantages to this, though it may seem a costly option. One, you should be able to use your own car and not just to give a parental bus service. The other option is that the possible dents and scratches will be happening to their motor, not your own! This in itself should aid towards making them much better and confident drivers, and may even help to turn them into independent young adults who pay their own carinsurance – bingo! Which ever way you choose to cut the expense, ensure that as soon as possible the kids start contributing to their own car insurance bill. The more they have to fork out, the more carefully they normally will drive!
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