Typically, young adults are going to pay more for their auto insurance than anyone else under age 70, because they're considered the riskiest on tour. However, young adults can lower their auto insurance rate by taking a defensive driver course, raising their comprehensive and collision coverage deductibles, commuting through public transportation, buying a home or renters policy through as is auto insurance company, or buying a safer car.
Ways to Save on Your auto Insurance
One way to save money on your auto insurance is to purchase a vehicle with front and side airbags, antilock breaks, automatic seatbelts and daytime sidelights. Many auto insurance companies give discounts for these safety features, not to mention cars with these features are generally cheaper to insure! Another way to save a couple of bucks is to join an auto club, such as American Automobile Association (AAA), or taking advantage of discounts through your employer.
In the event you own an older vehicle, it mayhap a good idea to drop the collision and comprehensive coverages from your auto insurance policy, because both coverages require you to pay a deductible in the event you file a claim, and in some cases, that may be more than your car is worth.
If you were recently married or are about to be married, you will notice a considerable drop in your auto insurance rates. That’s because insurance companies view married couples as more “stable” and less of a risk. Also, when you turn 25, you can expect to see a decrease in your auto insurance rate because auto insurance companies view people 25 and older as a more “stable driver”.
Living With mama and daddy
If you still live with your parents, but don’t own your own car, you're still eligible to remain on their policy. This will save you money because your parents are considered lower-risk drivers and will likely have a better auto insurance rate than if you had auto insurance on your own. However, if you purchase your own vehicle, most auto insurance companies will require you to buy your own insurance, to avoid any confusion as to who the car belongs to.
Financial Picture
To save money, you should check what other insurance coverages you already have and see if you’re paying for double-coverage. If you have health insurance through your employer, you can waive Personal Injury Protection (PIP), which pays for your medical expenses in the event of an accident. At times, some car insurance companies will allow you to limit medical damages under your uninsured motorist coverage in exchange for a lower premium.
Just be careful as to not sacrifice adequate car insurance to save a couple extra bucks. For example, if you’re in a major accident with an uninsured motorist, and your doctor's bill* are high, you will end up paying for those bills, not the uninsured motorist!
If you think you’re paying too much for car insurance and prefer to get quotes from other auto insurance providers, log in to Insurance.com’s auto insurance comparison application. Here, you are able to evaluate multiple rates from best-in-class insurance providers – helping you find the best and cheapest auto insurance coverage for your budget.
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