Considering young drivers have little experience when it comes to driving for a long-time or in a traffic-prone area, the chances of having accidents are higher as compared to skilled drivers. As per the reports of “Road Accidents in India,” Around 31,750 victims between the age group of 18-25 died in Fatal Road Accidents in India in 2021”.
Thus, one must be cautious enough while choosing a car insurance policy for young drivers and teens who have just learnt to drive or have entered the legal age to drive.
Under such situations, only having a third-party car insurance is not enough. When it comes to young drivers, having a comprehensive car insurance policy can be favourable. This cover will be sufficient to cover not only third-party damages but also damages due to accidents, theft, fire and other disasters.
It will also offer a Personal Accident Cover for the owner/driver of the four-wheeler.
Another reason young drivers and teens should opt for comprehensive insurance is the high cost of repairs. Not having adequate coverage can prove to be expensive as they might have to pay for costly maintenance from their pocket.
Moreover, they can also enhance their coverage by purchasing add-ons offered under a comprehensive plan.
Therefore, it is advisable for young drivers to go for full-fledged coverage in their beginning driving years.
When providing quotes for car insurance coverage, insurance companies assess various factors. These factors include:
Since young drivers are not highly experienced when it comes to driving in traffic-prone areas or areas with tricky conditions, the insurer might charge a higher premium from them.
If you also fall in this category or are looking to purchase an economical car insurance policy, here are a few ways that you can adopt to reduce your premium:
It is an essential practice to compare car insurance quotes before purchasing a plan. Take time to compare quotes from different insurance providers online. Insurance brokers like Policybazaar.com can help young drivers in finding the best coverage at the most affordable rates. Thus, carefully assess the pros and cons of a policy before selecting one.
Add-ons are beneficial in providing enhanced protection to your four-wheeler. However, these add-ons come with a cost which directly affects car premiums. So, it would be best to only choose those add-ons that you need for your car and skip the unnecessary ones. This way, you will stay within your budget when buying motor insurance policy.
Securing your car from anti-theft devices can be beneficial not only to protect your car but also to reduce your vehicle insurance premium. Anti-theft devices that are approved by the Automotive Research Association of India (ARAI) can help young drivers avail of an additional discount on their premium. So, why not get them installed in your car and lower your premiums?
Vehicles like sports cars or high-end luxury cars like SUVs are expensive and carry a higher premium. Moreover, modifying your vehicle by adding new features like a super-boost engine can also increase the premium of car insurance. Thus, by purchasing a safe and affordable car such as a hatchback and not making any modifications, young drivers can significantly reduce their motor insurance premiums.
As we mentioned above, it is imperative for young drivers to compare car insurance before purchasing a plan. Below we have mentioned easy steps to compare and buy a motor insurance policy online. Take a look:
Car insurance for young drivers and teens can be a financial hurdle due to higher premiums. However, understanding the factors influencing insurance costs and implementing smart strategies can help young drivers find affordable coverage and enjoy their newly learned driving to the fullest.
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