Driving a vehicle is a liberating experience, but it comes with costly caveats, of which insurance is the biggest bug bear.
New drivers are at a particular disadvantage because of the cost of insurance policies, which get more affordable as you build up more experience behind the wheel and keep a clean record that shows providers you are a low-risk prospect for their packages.
Thankfully there are some types of insurance that will be more affordable for new drivers, so let’s look at the main options you have as a fledgling motorist.
Opting for the bare minimum of auto insurance, which in most states is a legal requirement, is the best way to get a cost-conscious deal as a new driver.
Sites like Cheapinsurance.com can save you even more money on liability insurance, as well as more comprehensive packages.
For new drivers, the choice of selecting an entry level deal rather than a fully-featured bundle is about cost-efficiency as much as anything else.
For example, it’s likely that your first car won’t be the newest or most expensive vehicle ever made, so it makes little sense to pay extra for bells and whistles like collision cover if you wouldn’t get much back if you did make a claim after an accident.
Young driver insurance
If you are in your teens or early 20s, you’ll be penalized with higher insurance premiums by many insurers, because their packages are usually set up to attract more mature motorists, and they don’t want to push everyone’s prices up by catering to youngsters who are statistically more reckless behind the wheel.
This might seem unfair, but the good news is that there are insurance packages from mainstream providers that are built around young drivers, whether you are still a student or just starting your career after completing your education.
Again, it makes sense to compare young driver insurance packages using online tools, rather than visiting providers’ sites directly, as the best deals aren’t always obvious unless you play the field in this way.
Low mileage insurance
Choosing an insurance policy which has a low annual mileage limit on it could secure you sizable savings as a new driver, whatever age you are when you get your license.
This is because with fewer miles driven each year, you’ll be less of a risk to insurers. This cap could restrict what you can do with your car, but if you only intend to use it for leisure purposes, then picking a low mileage package is wise.
For new drivers, insurance premiums are high because they are an unknown quantity to providers, as discussed earlier.
So what if rather than having to spend year after year driving safely to build up a good history, you could simply prove to your insurer in real time that you were sticking to the rules of the road, staying below the speed limit and avoiding accidents day after day?
This is where telematics-enhanced insurance comes into play, and it essentially involves having your vehicle fitted with a tracking device that records data and sends this to the insurance provider.
While being under the magnifying glass like this might make you nervous, it’s actually a great way of building on and maintaining the good driving habits that you have developed while under the watchful eye of your instructor.
These are just a few of the insurance policies that new drivers should consider, and you could find other ways to make savings depending on things like where you live, your credit score, and the kind of car you drive, so shop around and don’t settle for anything less than a competitive deal.
Image Source: Pexels
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