When a teenager gets their driver’s license, it is probably the first time he or she ever thinks about insurance – any kind of insurance, let alone car insurance. And with that comes the realization that there are many reasons why young drivers pay a higher insurance premium. Teen drivers represent the highest risk segment and are involved in more serious accidents, including fatal ones, than any other age group.
Does this mean there are no discounts on car insurance for young drivers in Massachusetts? That would be taking things too far. Indeed, there are ways to save on car insurance for young drivers.
Here are eight ways that a new driver could reduce their car insurance rate.
- Drive Safely
Almost 20% of young or first-time drivers get involved in an accident in their very first year of driving. Drive Safely. Be aware of the risks associated with inexperienced driving and focus on ways to avoid incidents involving an insurance claim. Plus the biggest benefit is developing good driving habits and remaining safe.
- The Make and Model chosen greatly affects the Cost of Insurance
Cars are usually assigned to insurance groups based on the cost per claim. Certain makes and models are simply higher than others. It makes great sense to select a car in an insurance group with a lower premium range, so that the insurance premium cost is also lower.
- Driver Education Discount
Completing a driver’s education training course can provide an additional discount on car insurance for teen drivers.
- Good Student Discount
Good grades also come with extra savings. Teens with high grades can qualify for an additional discount on car insurance. The Good Student Discount is generally available to students who have a grade point average of a B or higher. This applies for both high school and college students.
- No-Claims Discount
When you drive safely, and stay within speed limits, you naturally may avoid accidents. And when you do that, you can improve the chances of earning the No-Claims Discount while renewing your car insurance in the future.
- Car Security Features
Proactively thinking about the car’s security features can help curtail higher insurance premium costs. It is best to keep the car in a locked garage or at least off the street. Drivers might want to consider installing anti-theft security equipment that may attract lower premium costs. And always, make it a point to remove valuables from the car.
- Avoid Modification
Spoilers, fins and additional appearance-enhancing features may add to the car insurance bill.
- Compare Similar Policies
It is always good to compare like policies in terms of the benefits they offer. Two insurance policies might cost the same, but the level of benefits both offer might greatly vary. Hence, compare closely and choose a policy that fulfills your insurance needs better. We’re here to help.
Car insurance requirements in Massachusetts are quite specific. So, as a young driver looking to save on your car insurance, consider the tips shared. And, like you’ve heard countless times, Drive Safely!