Why teenage car insurance can be so expensive:
Statistics show that teenagers are more likely to be involved in accidents and make claims on their insurance. Insurers offset the increased risk of a claim with higher premiums.
Younger drivers in general are considered to be more reckless on the road and are more likely to get into car accidents.
How to drive the costs of teenage car insurance down:
Take an advanced driving course
By taking an advanced driving course you may be able to prove to insurance companies that you aren’t a high risk on the roads. You may be able to avoid getting into accidents.
Add an older or more experienced driver to your policy as a named driver
By adding a more experience driver to your teenage car insurance policy, you will lower your level of risk.
Keep in mind that the more valuable and powerful your car is, the more it will cost you in insurance
The most powerful cars have the highest insurance costs. Generally, if a car is a high performance vehicle, it’s more likely to cost more to repair it. This is why the insurance costs can be quite high. To keep your teenage car insurance costs down, it may be better to opt for a slightly cheaper vehicle type that won’t cost too much to repair.
Secure your car with additional security features to reduce the chances of it being stolen
Enhanced security features such as an immobilizer and anti-theft devices can lower your insurance premiums.
It may often be cheaper by adding your policy to a multi-policy
It often costs more to insure your car in a separate “stand-alone” policy. It may be helpful to consider having a multi-policy. If there is more than one car in the household, you can save by bundling policies.