The time has finally come where your teen has passed their drivers exam and will be on the road driving. Getting your driver licence is an exciting time for any new driver with a new sense of freedom and maturity. Whether they will be driving their own vehicle or driving the parent’s vehicle, one thing is for certain, car insurance premiums are going to go up.
Young driver’s car insurance premiums are often among the highest due to the risk involved. There are several factors that play a role for insurance companies when determining how much money it will cost to insure a new driver. Finding the right insurance company that will provide great coverage at the lowest price is something all motorists hope to find. The Insurance Bureau of Canada has posted some resources for young drivers to utilize when shopping for car insurance. In addition, we have some resources as well.
Beneficial Insurance Solutions Tips for Teen Drivers
•Work with an insurance broker. Insurance brokers provide a wide range of expertise, knowledge and access to many different insurance companies who will compare and get you the best policy.
•Enroll in driver training. Insurance companies provide a discount to young drivers if they have gone through a licenced drivers training program.
•Add to parent’s policy. It can be incredibly expensive for teens or young drivers to afford insurance premiums on their own. By adding to an existing policy can lower the cost provided they aren’t the primary driver. For more young driver advice why not visit the Get in Gear website.
•Full disclosure. When working with your car insurance broker, make sure you provide up-to-date and accurate information on who the primary driver is, how often your teen will be driving and purpose of driving (pleasure, to and from work etc.) All these criteria are just some of the items used to determine car insurance.
•Practice Safe Driving. Safe driving pays off, literally. For every year you go without an accident or speeding ticket, you are viewed as less of a risk to insurance companies and receive reduced premiums.
While there are several things to keep in mind as a new driver, the best way to see savings is be listed as casual driver on an existing policy. In Calgary, there are several methods of getting around our great city such as transit, biking and walking. This is a great way to reduce costs while gaining experience and becoming a gooddriver.