Auto insurance is one of those expenses that we don\’t necessarily think about very often, but one that can cost us a lot of money over our lifetime. This is certainly true of drivers who fall into specific demographics that are considered by insurers to be more risky. For example, if you are within the 16 to 25 year old range, and you are a male in particular, you will fall into one of the worst categories in relation to accident frequency.

This simply means that as a young man you will need to pay a lot more for the privilege of driving, and insurers will always charge you much higher premiums. This is simply down to the fact that the insurance company will know, statistically, that you are much more likely to have an accident than most of their other policyholders.

Thankfully, there are ways of getting around this. While a teenage driver is generally going to have to suffer higher rates and premiums than most members of society, there will still be some things that a young driver can do in order to reduce their costs relative to the rates covered by their contemporaries. Here are a few options that you may want to consider.

To start with, limit the value of the car that you purchase. The premiums that you have to pay will be directly related to the value of the car that you drive. The more expensive the car, the more expensive the repairs, and therefore more expensive your premiums. To lower costs, therefore, choose a less expensive vehicle.

It is also a good idea to drive a vehicle that is going to discourage reckless driving. Needless to say, if you\’re driving a vehicle that has the propensity for high speeds, this is going to tempt you to drive faster, more aggressively, and therefore more dangerously. Make sure that you purchase an appropriate vehicle that limit such behavior.

See if you can get the vehicle insured in your parent\’s policy, rather than purchasing your own standalone policy. Generally speaking most parents will have far more competitive policies than you could possibly hope to get. Simply adding yourself as a named driver onto their policy is going to be much cheaper than getting your own.

If you do need your own policy, shop around, especially with specialist providers. There are many specialist insurers who would offer much more affordable policies to all sorts of different drivers who are considered to be risky. While you may be subject to stipulations such as avoiding certain roads or sticking to a curfew, you will certainly be able to save money.

Look for a policy that includes a high deductible. What this essentially means is that you will have to cover a large amount of money if you are involved in an accident when you file a claim. As such you will alleviate a lot of the financial risk covered by the insurer, helping you to get much cheaper premiums each month.

Author Bio: Specialized in devis assurance auto, this firm operates in Ontario and Quebec and has more than 50 years of experience. Official partner of CAA-Quebec and Aeroplan, enjoy the benefits of valuable rewards programs with BelairDirect. Get your assurance auto quote now!

Category: Automotive
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