First-time drivers are often perceived by insurers as high-risk clients and, as such, are usually charged a higher premium than experienced ones. This is because they are believed to be less able to handle the rigors of driving alongside other vehicles. Since risk is taken into account by surety firms in computing premiums, new-driver car insurance is normally costlier than the regular type.
Nonetheless, there are ways for first-time drivers to lower the cost of a surety policy. If you are conscious about premium cost and will pay for it on a tight budget, avoid buying a luxurious car.
The cost of coverage not only depends on risk exposure, but also on the value of the vehicle being insured. Under a comprehensive surety policy, the insurer is obliged to shoulder cost of replacement in case of theft. This cost is taken into account in computing the appropriate premium. New-driver car insurance will therefore be less expensive if the automobile is not costly as well. On the other hand, the cost of coverage will be much higher if the vehicle involved is a sports car or a luxury vehicle.
Another way to pay less for a new-driver car insurance is to take a driving course. Companies believe that individuals who underwent formal education on driving are more disciplined on the road and are, thus, less prone to accidents. If you took a lesson of this type, be sure to present this to your insurer to get a discount.
Many first-time drivers are teenagers who were given their own cars as a present from their parents. Young ones may avail themselves of discounts on premium if they maintain above-average grades in school. Many insurers believe that students who perform well in school are also more disciplined on the road than the average youngsters.
If you are a student and have good grades, present your class cards to the surety company to get a lower charge for your new-driver car insurance.
Quite a number of companies offer discounts to deserving clients as a way to gain more customers. Different marketing strategies have been employed by surety firms to increase their share of the market. By making yourself aware of the discounts that may be afforded to you, then you can maximize your savings.
Lowering the cost of surety coverage is also possible if an individual will make a comparison of quotations offered by different companies instead of just dealing with one firm. By having more than one quotation, you will be able to study which among those offer the best services at the lowest possible price.