Young and inexperienced drivers have historically always had the highest incidence of car accidents and are more often than not the party that is at fault. This makes for a very unappealing combination in the eyes of car insurance companies. So what can you do if you are a parent with a 16 year old driver in high school or you are a college student who needs affordable insurance to cover you when you commute to classes?
Well, there are a few things you can do besides just waiting to turn 25 when your rates just automatically go down. Apparently after the age of 25 car insurers look at you as less of a risk. Why that birthday is the delineation point is something known only to the statisticians at the major insurance carriers.
There are a few discounts that are widely offered by insurers to younger student drivers. These are not available with all carriers so realize that before you start shopping around. You can save thousands of dollars just by making sure that the carrier you pick offers these specific student driver discounts.
But none of these discounts are particularly easy to achieve. You or the young driver you are covering need to make a serious life choice. There is even one discount that requires some very drastic action and a life altering event on the part of the young driver.
The easiest insurance discount you can get as a full time student is offered only if you maintain a B average in all of your classes. As long as you maintain a 3.0 grade point average your insurance provider will give you a lower rate. That’s even more encouragement to hit the books and study. For college students this will no doubt also mean more money for beer which is always a popular bonus.
Another auto insurance discount that is available to students under the age of 25 is possible only when you still live under your parent’s roof. If you live at home you can be part of their insurance plan which, by proxy, will also lower your insurance rates. But living at home for some college students probably sounds like a fate worse than, well, actually going to class.
And finally, there is one last thing a young student can do to lower their car insurance rates and that is get married. Apparently if you get married at a young age auto insurance companies look at you as less of an accident risk.
That’s funny. Since over 50% of marriages between young people don’t last ten years, do you really think they deserve to be looked upon as arbiters of good decision making? Either way, it’s your choice whether you want to study hard, move back home or find yourself a spouse.