Insurance + Fuel
Insurance For The Young Driver
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After going through the process of becoming a licensed driver, most young people can’t wait to get on the road. Now that you have your license, you may think all your obstacles are finally out of the way. However, young people are faced with some of the highest driver’s insurance rates. They are likely starting out on their own and have little money, so these rates can mean the difference between being able to drive a vehicle and having to take transit instead. Luckily, there are small measures that can be taken to ensure your car insurance doesn’t become a hassle. Always check with your particular insurer to see if there is anything you can do to help lower your rates, but there is a general list you can follow to keep your payments more favourable.
Start Out With The Right Tools
When you’re going through the licensing process, taking a driver’s education course (both theory and road practice) will lower your insurance. In Ontario, drivers who take the course only have to wait eight months from the time they get their G1 until they can get their G2. Drivers who decide to skip the course have to wait one year between their G1 and their G2. The course does cost money, but you will probably have lower insurance rates to make up for it. You’ll be considered a safer driver if you’ve learned more about road safety and have been taught by licensed instructors.
Choose Your Car Wisely
Pick a car that is under the lower insurance rate umbrella. You can ask your insurer if they have a particular list that you can follow. For example, certain makes and models of cars are considered more of a liability because they may have a higher rate of theft. There may even be certain colours of cars that are more frequently stolen. For example, red cars have been found to have higher theft rates than cars of other colours. Cars with traits that make them more susceptible to theft will have higher insurance rates. Also, be careful with any changes you make to your car. Esthetic upgrades, like adding a spoiler, can hike up insurance rates.
Invest In Safety
Any feature that can increase your car’s safety will help decrease your insurance rate. The safer a driver you appear to be and the safer your vehicle is, the less money you will have to pay. Ensure you have all the necessary features like air bags and seatbelts. Going above and beyond and adding other features, like a car alarm, is a great investment. Adding a GPS system is a good option as well—if your car were to get stolen, police would have an easier time tracking down its location.
Be Responsible
Statistics suggest that young people are more likely to be involved in collisions. Always be aware of your surroundings and obey all traffic laws. Any tickets or run-ins with the law could cause your insurance to rise sharply.
Use Your Allies
If you’re finding that insurance is still too high for you, try getting listed under a parent’s insurance. Get a parent to list you as one of the drivers of a family car and your rate will be lower. Don’t worry, you can still pay for the insurance on your own. Either pay your parents back after they pay the rate or provide them with the money so they can pass it on to the insurance company with their payment. This way, you can save money on your payments and build enough equity to get your own insurance when you are ready.
Get Out And Drive
When you’re starting out on your own, independence is key. You want to be able to drive a car and make insurance payments on your own. This may mean you have to make some sacrifices of time and money at first, but your insurance rates will change for the better if you do. Take the time to research what your insurance company deems important and keep those things in mind when you make decisions about your car. Try not to get discouraged, no matter what your rates look like. Focus on how great it feels to be a new driver.
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