Auto Insurance For Young Adults | Personal Finance Views

Friday, July 10, 2015

Auto Insurance For Young Adults

As young men are already at a huge disadvantage when it comes to getting low rates on auto insurance, it is especially important for young men to be especially diligent when it comes to compensating for their gender with the other variables that they can affect in order to save themselves a great deal of money on monthly premiums.

Auto Insurance

Below this article will discuss some of the many ways in which young men can positively affect their chances for a low automobile interest rate.

Keep your driving record clean

Of course the most important way to keep your monthly premiums low as a young man is to keep your driving record clean. If you are a first time driver, of course you will not have a driving record, but you can still show responsibility through keeping your grades up in school and participating in well-known volunteer organizations such as the Boy Scouts. Some insurance companies actually have “scholarships” for young men such as these, which basically amount to lower monthly car insurance premiums.

Get a used car

Used cars are considered lower risk than our new cars. Insurance companies take into account the fact that new models that come out are always more powerful than their earlier predecessors. The more powerful the car, especially in the hands of a young man, the higher the insurance premium will be. So if you have a choice between a used car and a new car, if you want to keep your automobile insurance rates low, pick the used car.

Keep the mileage down

The lower you keep the mileage on a vehicle that is primarily driven by a young man, the lower that the monthly insurance premium will be. Initially, a young man should only be driving to school and back until he gains the necessary experience to drive other places without supervision.

Lower the risk on the insurance company

By adding certain things to a vehicle, the insurance company will take into account that the owner of the vehicle is taking responsibility for some of the risk. Things such as an aftermarket alarm system, a GPS navigator, or even a manual steering wheel bar will keep the insurance company from charging its highest premiums to the owner of the vehicle.

Make sure the car is covered at every available opportunity. If the vehicle is housed in a garage, lower monthly insurance premiums will follow.

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