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How To Get Low Cost Car Insurance Coverage

People can get low cost car insurance if they set their minds to it. Sometimes, drivers belong to a demographic that qualifies for a discount or there are things they can do to be eligible for a particular car insurance company’s discounts. Conscientious drivers just need to ask different insurance companies what discounts they have for people that will lower the price of their insurance.

Who Pays the Most for Car Insurance?

One group that has traditionally been charged the highest rates are those from age 16 to 19. These three years tell an auto insurance company that these are inexperienced drivers and they are more likely to be involved in a car collision than those age 20 and up. The statistics that relate to this group prove to car insurance companies that they are right to place teen drivers in a high risk group (read more about why it is extremely difficult to get cheap car insurance for high risk drivers).

Boys as well as girls in the 16-19 year age group do not just have the most car accidents, they also have the highest rates of moving violations. The Department of Motor Vehicles (DMV) has found that drivers of all ages receive citations for moving violations at a rate of 17.3 percent. The numbers are much higher for those in the 16-19 year age group:

• 16 year-old drivers receive 31 percent of citations
• 17 year-old drivers receive 36.6 percent of citations
• 18 year-old drivers receive 38.9 percent of citations
• 19 year-old drivers receive 37.5 percent of citations

Also, car crashes are the number one cause of death for teenagers.

How Teens Can Get Low Cost Auto Insurance with Discounts

Even though all the statistics listed above are true, car insurance companies will offer discounts to teenage drivers (see “car insurance for teenagers” for additional information). Teenagers who maintain a high grade point average (B and up) are entitled to a discount with some companies of a succulent 30 percent. Those who drive cars that are considered to be safe such as the 2011 Toyota Corolla can encourage an insurance company to charge less for a teenage driver.

The age group that rivals the teenagers is the 85 and older age group. Between 1994 and 2004, this age group constituted 11.4 deaths per 100,000 miles driven, a number higher than all age groups including the 16-20 age group. They are only second to the 16-19 age group in causing property damage due to car collisions.

Find Out Whether You Qualify for Savings

This is also an age group that can find discounts that apply just to them. They can qualify for a discount just by taking a course meant to sharpen their driving skills. One such course is offered by the American Association of Retired Persons (AARP) and it teaches senior citizens the new rules of the road. They also learn how to drive in specific situations such as how to make turns safely at intersections. After they have passed this particular course, car insurance companies in 36 of the 50 states will give senior drivers a discount.

Young males under the age of 25 are another group that has difficulties finding affordable auto insurance. They are in the age group that obtains the most convictions for Driving Under the Influence DUI (Note: If you are caught driving under the influence, you will likely have to purchase “SR22 car insurance” which is not fun to deal with). They are also the group that has more car collisions than their female counterparts. They also drive more recklessly than women of the same age do and they tend not to wear seat belts when they are behind the wheel. All of these statistics makes it more likely that males under the age of 25 will be charged more for car insurance than women of the same age.

Risky Drivers: How You Can Reduce Your Risk

Getting Married

Like for teenagers and elderly drivers, car insurance companies have instances when they are willing to offer males under age 25 a discount on their premiums. The day that a male under age 25 says, “I do” is the day that he will be eligible for a discount on his car insurance; some companies will take off as much as 40 percent for a male who shows them his marriage certificate.

3 Groups That Pose the Highest Risk to Insurers

The three groups that present the highest risk to insurance companies, teenagers, elderly drivers and young males under age 25 also may look for discounts on their car insurance in the areas where other drivers find them. One of those areas is in the deductible. The deductible is the amount of money the policyholder will need to pay before the insurance company takes over. The higher drivers set their deductibles, the lower their car insurance companies will set their premiums. Policyholders just need to keep in mind that the deductible will be the amount of money they will be required to pay in the event that they file a claim with the insurance company, so they will need to have that amount of money on hand.

Keep Your Credit Under Control

A driver’s credit report is the key for receiving the lowest cost car insurance. In order for the car insurance company to decide what to charge policyholders, they will check their credit history. If they find that potential policyholders have several late payments, more credit cards than they could possibly need and high balances on those cards, they will be forced to charge these people a lot more for their premiums. The way people become those who will be offered lower rates is to make sure to pay their bills on time, not open new credit card accounts frivolously and not keep unsustainable balances on their credit cards.

Bundling Coverage to Get a Lower Cost Car Insurance Policy

Individual drivers can also seek discounts for their car insurance if they belong to a group. Car insurance companies offer low cost car insurance to groups that come out of, for example, one company. The company just needs to contact the insurance company for their requirements on qualifying for group insurance. Then the employees can agree to form a group, which will apply for a collective car insurance policy. This action decreases the costs significantly for each individual driver.

Several different ways exist to get low car insurance rates. Even the groups that are traditionally given the highest premiums can find discounts that they can qualify for. Teenage drivers can maintain a B average or better for a discount. Older drivers can take defensive driving courses for a discount. Young males under the age of 25 can obtain a discount after marrying and everyone else can find discounts in several different areas such as by maintaining a clean credit report.

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