January 3rd, 2010 | 
Author: Being young is one of the advantages, when it comes to car insurance! Did you know that drivers under the age of 21 account for only 7% of drivers in the country but pay about 32% of premiums? It’s a grim picture, I know! Cheer up! There are many ways in which you can bring your premiums down even if you are under 21years of age. We’ll tell you….
Why Doesn’t Car Insurance Under 21 Come Cheap?
Well, to put it simply, young drivers are a risky proposition to the insurance company. According to a recently conducted research, drivers under 21 are 10 times more likely to be involved in car crashes compared to drivers belonging to other age groups! Not a very rosy picture, is it?
In order to compensate for such risks, car insurance under 21 often entails high premiums.
Okay, I Got That. But How Do I Reduce My Premiums?
There are a number of ways in which you can ensure that you pay the lowest of premiums possible when you are buying car Insurance under 21 years of age.
• Choose carefully -every car you buy is banded by an insurance company. This is to assign a value and risk factor that the insurance provider assigns on your vehicle. When you a buy a car in a lower band, you automatically pay a lower premium on it.
• Improve your security- your car’s security gadgets play an important role in determining the amount of premium you have to pay. When you increase the security of your car, you lower the premiums you pay on it. For instance, immobilizers, alarms, glass etching and an easily identifiable vehicle identification number goes a long way towards increasing the security of your car and lowering the premiums you pay.
• Go with the specifications-When you are looking for car insurance under 21 years of age, keep the specifications of your car in mind. For instance, alloy wheels and low hydraulics may look attractive on your car, but is it really worth it if you have to pay higher premiums for them?
• Mind your usage – many policies are usage specific. For instance, are you going to use the car for social or domestic purposes? Keep these in mind when you’re going for a policy. If you are going to use the car to impress that beauty at high school only, you don’t really need a comprehensive package. However, if you are going to use your car frequently, take a look at all the packages offered by the companies. Don’t pay for something you don’t really need!
• Shop around-you should always take a look at the different policies on offer before you decide on one.
Car insurance under 21 is seldom affordable. However, you have many alternatives. Shop around with our tips in mind-you will get the best option for yourself!
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