Worst Tips to Getting Cheaper Young Driver Car Insurance

5 – “Drive a cheap car, it’s cheaper to insure”

Well that’s not necessarily true I’m afraid; it really all depends on the current value of your car. Grab yourself a Kelly Blue Book or look online and get an idea of your cars’ value, if it’s worth less than say $3,000 then maybe you should have some derision for that collision coverage. The thing is, if you might struggle to get even a small down payment together on a new car in the event of an accident, then it’s probably worth keeping the collision cover on your older car to give you something to fall back on. You’ve also got to factor in that a cheap car is most likely to be an old car, and an old car almost certainly means few safety features like airbags and anti-lock brakes, or anti theft features. The lack of these features is actually likely to drive up other premiums and you may lose the all the savings you’ve made. Get the best car you can afford and enough insurance to properly cover you in the event of an accident. It’s not rocket science.

4 -“Just lie about your where you live to get the best deals”

It’s tempting I know, but if you use your parents address because it’s in a nice neighbourhood but you have in fact moved out, you may run into some serious trouble. Yes, it’s possible you might get a slightly lower insurance rate, but if you ever have to make a claim and your insurance company finds out about your lie, your policy will be cancelled and you will be left holding the bill. No insurance company wants to pay out on claims, but they do so because you have a contract with them. If you lie about anything on your insurance policy then that will most probably invalidate that policy by breaking your side of the contract.

3 – “Repaint your car; certain colours attract better insurance rates”

Ok, we’ve probably all heard the one about red and black cars being more expensive to get insured, right? No? Well, so the story goes, red and black cars tend to be driven more aggressively and by young drivers which means they attract higher insurance premiums. Although Insurance companies won’t ever disclose all the factors that are taken into account while calculating young drivers car insurance rates, it doesn’t take a genius to see that it is far more important what car you drive, NOT what colour it is. Which do you think will be more expensive to insure, a red Honda Civic or a brown Chevy Camaro Coupe?

2 – “Just get the legal minimum coverage to save money”

No reputable insurer would ever advise taking out only the legal minimum coverage to simply save money – it’s the very definition of a false economy! 40% of all road accidents involve young, inexperienced drivers and there are so many expensive cars on the roads these days that the minimum coverage will probably fall way short of the mark in the event an accident. Remember if you don’t have sufficient coverage you could end up losing a lot more than your car. If you want to save money on young drivers’ car insurance, you’d be better increasing your deductible, or trying to keep your mileage down rather than exposing yourself to the financial risk.

1 – “Get married and save money on your insurance”

You’ll find this ludicrous little gem dotted around the internet, and it’s surely the most stupid one of the lot. To be fair, there is a modicum of logic behind this as insurance companies do view married people as more responsible and can offer them lower car insurance premiums as a result. But come on, are you really going to get married to save on car insurance? Of course you’re not!