The last thing a young person can afford is to pay high premiums on car insurance, and yet insurance for drivers under the age of twenty-five is generally much more expensive than car insurance for any other age category. Here are some hints for finding cheap young persons car insurance and especially for students on a tight budget.  

Be Willing to Take Higher Deductibles


One way to keep your youth car insurance rates low is to agree to a higher deductible or excess. A deductible (excess) is the amount of money that you are responsible for paying for any damages done by your vehicle before your insurance company will contribute. For example, if you have a deductible of $500 and are in a fender bender that causes only $300 worth of damage, your insurance agency will not pay a cent for it. If you are in an accident that causes $2,000 worth of damage, however, you will have to pay $500, but then your insurance agency will pay the remaining $1,500.
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A higher deductible on your student auto insurance will mean that you have to find a way to scrape up more cash if you are in an accident, but in the meantime, you will be making much lower monthly payments. This is a good option for safe drivers who feel they are unlikely to be in an accident and are therefore willing to take on the risk of owing a little more if they are.

Understand Risks Of Cheaper Insurance Rates


If you are going to find cheap young person vehicle insurance, you first need to understand what makes insurance more or less expensive for any given individual.
Insurance companies base their rates on certain risk factors that increase or decrease the likelihood of a person being in an accident. Unfortunately, one of the largest risk factors is age, so auto insurance for young persons under the age of 25 or so tends to be relatively expensive because these drivers are statistically much more likely to get into an accident. This factor to insurance price is obviously unavoidable, but there are other risks factors that you can avoid to make sure that your premiums stay as low as possible.

It may be tempting for certain youths to modify their vehicles to make them more unique or more attractive, but this can dramatically raise your insurance rates. Similarly, cars with expensive-to-replace parts are also costly to insure. Young person auto insurance is much cheaper for individuals who decide to go with mainstream cars that are easy to repair and don't have any modifications.


Search for Student Discount Rates


Auto insurance has become increasingly specialized, which means that there are certain insurance agencies that cater to particular demographics by offering them special discounts. If you are looking for cheap auto insurance for youths, you should try to find an insurance company that offers discounts to young drivers such as "good student discounts," which are discounts that reward students who maintain good grades by lowering their insurance costs.

Young persons car insurance can be very expensive because of the increased risk that they pose to the insurance companies. If you purchase a mainstream car, take on a higher deductible, and find an insurance agency that can offer you student discounts, however, you should be able to make your payments on vehicle insurance more than manageable.