It’s your 18th birthday, and you have finally turned into an official adult. Apart from the grand birthday celebration, you will now have to deal with lots of new concepts related to the general laws, property rights and everything about what you are now eligible to do! You may have probably finished your driving course or may be planning to pursue one. You might be thinking to ask your parents for a car to go to your new college, or you plan to buy it on your own after you have finished your college. Choosing a perfect car is a tedious and time-consuming task. Choice of car insurance for young drivers can prove puzzling too. Following is a quick guide map to find the best price car insurance for all those young drivers out there.
What is car insurance?
In this world of uncertainty, everything needs to be insured. So does your car. To minimize the loss due to unfortunate accidents or mishappenings to your car, you buy car insurance. You promise to pay a car insurance company a periodic fixed amount of money over a span of time. This amount is known as premium in the insurance lexicon. The company, in turn, covers for your loss fully or partly, depending on the terms of the contract.
How different is car insurers for young drivers than rest?
All car insurance companies charge a higher premium for lesser age and driving experience. This is logical as, given the greater part of a population of our country is being young, the chances of the accident has been found to be higher in this age group. Also, driving experience of an individual speaks about his expertise in driving. Hence less expertise means larger premium.
As it is compulsory for all automobile owners to have auto insurance. Here are few tips one can keep in mind:
- Browse online: Car insurance bought online can come with various discounts and perks. You can compare all the insurance offers available and make a judgment call.
- Bundled car insurance: You can opt for bundled car insurance where more than one cars owned by your family can be insured together so as to be eligible for a discount in premium.
- Although smart car insurance premiums are even higher than usual ones. The maintenance cost of a smart car which is electric based is lesser than the fuel based ones
- An insurance company tries to test your level of knowledge about maintenance of cars while judging your driving expertise. It will help to save your auto repair invoices as a proof of how well informed about the needs of your car and consistent you are in taking care of your vehicle
- No insurance company would honor the payments to the young driver if in the case of an accident it was found that:
The driver was influenced by any kind of drug or sedative.
If the accident takes place outside of the concerned country.
If the car was used for an illegal transaction or was a medium to carry out illegal transactions.
Car insurance for young drivers is mandatory and beneficial. If made a right choice, it will always work in favor of the new generation.