3 Ways Young Drivers Can Save Money on Their Car Insurance

If you’re the parent of a newly minted teenage driver, you’ve probably seen how that new license comes with a hefty price jump in your car insurance premiums. Your rates could double or even triple, but there are ways you can save on your car insurance premiums. 

Why Is Car Insurance So Expensive for Young Drivers?

Because young drivers are inexperienced, they are statistically more likely to be involved in accidents. This is because they are more likely to exhibit risky driving behaviors such as driving recklessly and driving while distracted. Young drivers typically have a very limited driving history, so insurers can’t determine which young people are safe drivers and which aren’t. Ultimately, it comes down to how insurance companies pay more in claims for younger drivers, so they charge more for policies that cover them.

Because males are statistically involved in more accidents than females, your rates may also climb more if you add a son to your policy, compared to a daughter.

How to Lower Car Insurance Premiums for Young Drivers

There are ways to find affordable car insurance for young drivers and qualify for discounts that lower the amount you pay. How can you make car insurance cheaper for young drivers? Here are some steps you can take. 

1. Good Student Discount

Young people who are responsible with their academics are often more responsible behind the wheel. So, if your young driver has good grades or standardized test scores, they may qualify for a discount on car insurance. At Farm Bureau, full-time students with a B average or better or are in the top 20% of their class may qualify for a discount on their auto insurance.

2. Safe Young Driver Discount

Young drivers have the potential to lower their car insurance premium if they learn how to respond to challenges they face on the road. Farm Bureau offers that opportunity through the Young Driver Safety Program. 

Drivers may be able to enroll if they are under the age of 25 with a driver’s license or permit and are insured on a vehicle covered by a Farm Bureau Member’s Choice policy. They must also meet standards based on their driving record and claims in the past three years.

The program includes:

• A discussion about the program with a Farm Bureau agent
• Watching an approved driving safety video
• 30 hours of supervised driving
• A commitment to the safe driver pledge

3. Driveology

Another way to lower your car insurance premiums for young drivers is through enrollment in the Driveology program. This program provides discounts for good driving habits, and it’s an option for your whole family, not just younger drivers. 

To get started, you download an app and install a small tag behind the rearview mirror in your car. The app tracks speeding, hard braking and phone use, and displays a score based on your driving behavior. The higher the score, the more you can save! In addition, younger drivers tend to drive shorter distances, which can help to deepen the Driveology discount while their driving score is improving.

You can lower your insurance costs by driving under the speed limit, braking slowly and staying off your phone when you’re behind the wheel. You save 10% when you sign up with the opportunity of more savings. 

With Driveology, you can also view your young driver’s habits to make sure they’re staying safe on the road. 

Other Ways Your Family Can Save on Car Insurance

You may also qualify for other auto insurance discounts. You can lower your car insurance premium payment if you:

• Bundle your car and home insurance together
• Have fewer accidents and claims
• Insure multiple vehicles on the same policy
• Remain a loyal customer
• Pay for your policy in full at the beginning of the term

Your Farm Bureau agent can walk you through all the ways you can save and estimate what your auto insurance policy will cost when all of your discounts apply. Why not schedule a review today?