If you are a young driver or have one in the family, car insurance will probably be a big concern. It tends to cost more for new drivers, so you can expect to spend considerably more than usual. The reason is plain and simple- someone new behind the wheel is more likely to have an accident.
Car Insurance Advice
But you can still cut down the insurance cost with some clever thinking and guidance. Canadian insurance experts have helpful advice for young drivers looking for coverage without spending a hefty amount. Let us share it with you.
Choose the Right Car
The insurance premium you pay depends on the vehicle you drive, and the right choice can save you some dollars. It is a good idea to start with some research before you buy a car. Vehicles with factory-installed security features are cheaper to insure because they are safer on the road and in parking lots. Some hybrids also save your premium bills. Ask experts or check the internet to shortlist the best options.
Get Insured on Parents’ Policy
New drivers may not always want to buy a vehicle right away and drive a family car for a couple of years instead. Getting your name added to your parents’ policy as an occasional driver is a good way to start. You gain experience with an old vehicle and build a coverage history. It will work as a plus when you buy your own car down the line, and you can buy a policy for less.
Look for the Best Deal
This one is a no-brainer, whether you are a young driver looking for first-time insurance or a seasoned one requiring a renewal. There are several insurers in Toronto, so you can Get the best rates in Toronto for car insurance by searching and comparing. It will require some time and effort to find the right deal, but they are worthwhile. You can even find money-saving opportunities by asking for discounts or bundling up policies from the same provider.
Take a Driving Course
The best piece of advice for young drivers is to take an advanced driving course. The training has dual benefits, making it a worthwhile investment for a beginner. You feel more confident on the road and save a hefty amount on the insurance premium. Check a province-approved training course to ensure that you get a price cut in your premiums.
As a young driver, you must think long-term when considering savings on car insurance. Driving safely and not getting into accidents sets you up for a no-claims discount on subsequent renewals. You will need to pay less on premiums when renewing again. Further, it keeps your license clear, which also helps in making car insurance affordable. Not to mention, driving safely should be a habit if you want to be confident every time you hit the road.