Insuring young and inexperienced drivers

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One of the solid and reliable truths is that people make mistakes while they are learning an activity. It does not matter whether someone is learning to play the guitar or drive a car, there can be serious wreckage caused to the music or the car during the first months. So, as you will know, finding affordable insurance for a teenaged driver can be a real challenge. Continuing with the facts: all insurance companies charge their highest rates of premium for drivers in the range of 16 to 24 years. No matter which company you try, you will always find the quotes expensive.

The first reaction is usually to add your teenager to your own policy. The theory is that, even though this remains expensive, your discounts and the terms you enjoy as a driver, can be passed on to your children. There are a number of things wrong with this strategy. If your vehicle is expensive and/or high powered, the rate at which you add on will be significantly higher than buying a mild-mannered secondhand vehicle for your teen and paying the insurance separately. Secondly, if your children are involved in an accident, it is your policy that makes the claim and suddenly becomes more expensive to renew.

Worse, the cost of repairs are likely to be higher. A cheap secondhand car can be repaired or thrown away if repairs are uneconomic. Lower repair costs mean lower premiums. Finally, your children should start building up track record as a driver in their own right as soon as possible. This earns them discounts for going through additional driving lessons and then making no claims and collecting no tickets. This is added to the discounts for being a straight B or better student or enrolled in some universities. Should you shelter your children on your policy until they reach the magic age of 25, they will start off their own policies with fewer discounts.

Overall, the only way to find the cheapest car insurance is to shop around. This site offers an excellent search engine that will start you on your way but, once you have the quotes, it all comes down to doing the hard sums. How much will it cost to add a new driver to your policy? How much will you lose if there is a big claim? How much will it cost to buy a cheap vehicle for your child? How much will you save on insurance? Will the savings be lost through higher repair and maintenance costs? Only when you can answer these questions with reasonable honesty can you find the cheapest car insurance.

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