Having access to a motor vehicle makes it easy to travel from one place to another, but this convenience comes at a cost. A current auto insurance policy is required for all vehicles being operated on the nation's roadways, and monthly premiums can be costly for young drivers that the insurance companies see as a risk.
If you are hoping to reduce your monthly premiums, here are three discounts that could help you accomplish your goal.
1. Completion of a defensive driving course.
While you might be a safe driver when behind the wheel of your vehicle, it's impossible for you to control the actions of your fellow motorists. Since young adult drivers might not have the hands-on experience needed to avoid potentially dangerous situations, insurance companies could label them as high-risk.
Taking a defensive driving course allows you to gain the knowledge required to avoid accidents that might be caused by another driver, and your insurance company could offer you a discount for acquiring this knowledge. Statistics show that your premiums could drop by as much as 15% (if you are between the ages of 16 and 25) after proving to your insurance company that you have successfully completed a defensive driving course.
2. Obtaining favorable grades from your educational institution.
Many insurance companies associate favorable grades with responsible behaviors. Since a responsible driver is less likely to be involved in an accident, he or she will be viewed as less of a risk.
Young adults are notorious for making impulsive and irresponsible decisions, but when you can prove that you get good grades, you may qualify for a discount on your monthly insurance premiums. If you are younger than 25 and have the ability to maintain a B-average (which is the same as a 3.0 or better GPA), ask your insurance agent about a possible good student discount.
3. Bundle your insurance products.
Many young adults rent a dorm or apartment while attending college. If you have renter's insurance to protect your belongings, you may be able to bundle your renter's insurance with your existing auto insurance plan to experience a discount.
Statistics show that you can expect an average savings of 4.9% off your monthly premiums when you make the choice to bundle your insurance products.
Finding ways to take advantage of insurance discounts can be a great way to make your auto insurance more affordable. Talk to a company like Wyatt Insurance Agency for more ideas on how to save on your auto insurance.
After I graduated college, I started to feel like an adult. I started teaching at a school. I also bought a car. And I became the owner of several insurance policies. I obtained a comprehensive insurance policy for my car. I also secured my first life insurance policy at this time. I didn’t want my family members to be burdened with funeral costs if I suddenly passed away. A few years after graduating college, I became a homeowner. After this joyous occasion, I invested in a homeowners insurance policy. On this blog, I hope you will discover the most common types of insurance people purchase.