Buying Cheap Car Insurance for 17 Year Olds

June 12, 2013

Buying cheap car insurance for 17 year olds is fully possible through the use of discounts. Young drivers who are getting their first cars and have never driven before are large risks out on the packed roads. The demographic that have the most accidents caused are teenagers. Because of this, the insurance companies have to account for this by charging much more on your premium. Most people will have their 17 year old added onto their insurance policy. This is a much cheaper option than getting separate insurance plans. Here are some other ways to get cheaper rates for your 17 year olds car insurance policy.

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Driving History

As a 17 year old, you may not have a very long driving record. You may have a year under your belt if you started when you were 16. It is imperative that during this first year, you do not get into any accidents. 17 year olds car insurance will start out high, but that is because the insurance company does not yet know about your driving skills. Over time the rates will drop considerably for every year you don't have an accident. Having clean driving records is the easiest way to get a cheaper car insurance rate. If you do get into an accident and it is a minor one, do not go through your insurance. Even if it is a fender bender or something, it is cheaper to pay it out of pocket than to go through the insurance company. Even for such a minor accident, the insurance companies will be assured that they were smart to raise your rates, and may raise them even higher. Another part of your driving history is your amount of tickets. Try to never get a ticket because even though it isn't an accident, a speeding ticket shows that you do go fast which increases accident risk.

Good Grades Discounts

Many companies offer teens with good grades a discount for their hard work. Research has shown that teens that are responsible in the classroom are more likely to be responsible behind the wheel. Lack of responsibility is a big reason as to why teenagers get into the accidents that they get into. The requirements are different for every company, but overall, it is normally around a 3.0 GPA, or the equivalent to around an 85 / 100 average. This is a very obtainable mark, and can help save you on your 17 year olds car insurance policy.

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Model of the Car

The car that you drive will affect your rates. A newer car is likely more expensive to repair in the event of an accident. The same goes for European luxury cars like BMW, Mercedes, Lexus, etc. For your first car it is better to get an older, used car such as a Honda or Toyota. These cars will considerably lower your rates. The general rule is the more horsepower (speed) that the car has, the higher your insurance premium will be. Older cars also have lower book values in the event of a crash that causes the car to be totaled.