Getting something for the first time is always exciting. Unfortunately, when it comes to car insurance for teens, they are subjected to pay higher premiums. While 18 is considered as an important stage of life in terms of getting new legal opportunities, still the insurance rates are more expensive than drivers at later ages.
The cost of 18 year old car insurance rates is determined by the number of factors. You must be familiar with these factors so that you can save money on coverage by utilizing other ways to reduce the effect of these factors on your insurance rates. Also keep in mind that no matter whether you are looking for auto insurance for the first time or want to get the cheaper policy, car insurance for an 18 year old driver can be expensive.
Factors that affect the 18 year old car insurance quote
Some of the common factors that are considered by the insurance companies when calculating the car insurance rates for 18 year old drivers include:
- Age– The younger drivers are asked to pay higher insurance rates than older and experienced drivers.
- Gender– As per the record, female drivers report fewer accidents than male drivers. Some states consider gender as one of the factors to calculate car insurance rates. Male drivers are likely to pay higher premiums than females.
- Where you live– If you live in an area that has high crime rates or high accident rates, your auto insurance policy will be higher.
- Driving record– The fewer accidents and claims are also great ways to lower the premiums.
- Car type– Driving a less expensive car is a great idea to reduce the premiums, especially if you are an 18 year old male and have to pay a huge amount on your car insurance policy. Additionally, having safety features in your car also helps a lot to be eligible for various kinds of discounts.
- Credit ratings– It is believed that the drivers with a good credit score are most likely to file fewer claims, thus it results in low premiums.
- Coverage limits– How much deductibles and coverage limits you have chosen to pay for your insurance policy also works in determining the rates of your car insurance.
Add 18 year old teen driver to an existing policy
One of the best ways to lower the premiums of an 18-year-old driver is to add him/her to an existing policy of the parents or guardian. In order to add them under the parents’ policy, he/she must be living with his/her parents at home or a student in a school away from home. Adding 18 years old to the parents’ existing policy means they are going to get lower premiums as compared to having their own policy separately.
But, before moving further with this option, it would be better to know about the risks associated with it. If a teen gets involved in an accident or receives tickets, the premiums of all members on the policy will get increased. Also, the caused damages can lead to an increase in the liability coverage of the parents.
How to get cheap 18 year old car insurance?
There are many ways to save money on 18-year-old car insurance.
- Good student discount
- Low mileage discount
- Defensive training discount
- Distant student discount
- Safe driver discount
Alias Insurance considers all these factors in finding the best car insurance for 18 year old driver. Always keep in mind that taking the help of an expert makes the insurance shopping process easier and stress-free. With the right expert, you can get the policy offering affordability and coverage you need.