It is no secret that young drivers get hit with some of the highest car insurance rates in the industry. This group of drivers, which includes 17-year-olds, have a higher likelihood of getting involved in accidents and making insurance claims. As a result, car insurance companies typically view them as high-risk drivers, which translates to higher insurance rates. However, by shopping around and comparing quotes from different insurers, it is possible to find the best value for money with the cheapest insurance rates for 17-year-olds. In this article, we will explore different strategies that can help young drivers save money on their car insurance, including ways to qualify for discounts, choosing the right car, and comparing insurance quotes.
Part 1: Qualify for Discounts
One of the easiest ways to save money on car insurance is by qualifying for discounts. Insurance companies want to incentivize young drivers to be responsible and safe on the road. Therefore, they offer various discounts to drivers who meet certain criteria. Here are some of the most common discounts available to 17-year-olds:
Good Student Discount
If you are a 17-year-old who is still in school and maintaining good grades, you may be eligible for a good student discount. This discount is available to students who have a grade point average of 3.0 or higher. By providing your insurance company with proof of your grades, you may be able to save up to 15% on your insurance premium.
Defensive Driving Course Discount
Taking a defensive driving course can help young drivers become better, safer drivers. Insurance companies recognize this and offer discounts to drivers who have completed an approved defensive driving course. By completing a course, you may be able to save up to 10% on your insurance premium.
Driver Training Course Discount
In some states, 17-year-olds are required to complete a driver training course to obtain their license. Insurance companies offer discounts to drivers who have completed an approved driver training course. By completing a course, you may be able to save up to 10% on your insurance premium.
Part 2: Choose the Right Car
The type of car you drive can have a significant impact on your insurance rates. Insurance companies consider factors such as the car’s make and model, its age, and its safety features when determining insurance rates. Here are some tips for choosing the right car:
Choose a Safe Car
Insurance companies view safe cars as less risky and therefore offer lower insurance rates. Look for cars that have high safety ratings, such as those awarded by the National Highway Traffic Safety Administration or the Insurance Institute for Highway Safety.
Choose a Car with Good Gas Mileage
Insurance companies often offer discounts to drivers who drive cars with good gas mileage. This is because cars that get good gas mileage are typically more environmentally friendly and less likely to cause accidents.
Choose a Car with Less Horsepower
High-performance cars can be fun to drive, but they also come with higher insurance rates. This is because they are more likely to be involved in accidents and cause more damage when they do. Consider choosing a car with less horsepower and a smaller engine to save on insurance rates.
Part 3: Compare Insurance Quotes
Perhaps the most effective way to find the best value for money with the cheapest insurance rates for 17-year-olds is by comparing insurance quotes from different companies. Insurance rates can vary widely from one company to another, even for the same driver and car. Therefore, it pays to shop around and compare quotes. Here are some tips for comparing insurance quotes:
Use an Online Quote Comparison Tool
There are many online tools available that allow you to compare insurance quotes from multiple companies at once. These tools are convenient and can save you time and money. They typically require you to input basic information about yourself and your car, and they provide you with multiple insurance quotes to choose from.
Ask for Discounts
When comparing insurance quotes, be sure to ask each provider if they offer any discounts that you may be eligible for. This may include discounts for good grades, safe driving, or other factors. Insurance providers may not always advertise their discounts, so it is important to ask.
Compare Coverage Limits
When comparing insurance quotes, be sure to compare coverage limits as well. The cheapest insurance rates may not always provide the best coverage. Be sure to choose a policy that provides you with the coverage you need at a price you can afford.
In conclusion, finding the best value for money with the cheapest insurance rates for 17-year-olds requires a combination of strategies. By qualifying for discounts, choosing the right car, and comparing insurance quotes, young drivers can save money on their car insurance. Additionally, it is important to remember to drive safely and responsibly to avoid accidents and insurance claims, which can increase insurance rates. With the right approach, young drivers can find affordable insurance rates that provide them with the coverage they need.