Insurance tips for young drivers

For many young drivers, automobile insurance which is required by law in Canada can be costly. Often times insurance rates for young drivers reflect lack of driving experience. “Statistics tells us that drivers aged 16 to 24, though they only represent 9 per cent of the driving public, they also represent 25 per cent of the road fatalities and serious injuries.” explains Peter Warner of the Insurance Bureau of Canada.
Young drivers looking to lower their car insurance bills should consider the following tips: (http://www.wheels.ca/how-young-drivers-can-get-best-rates/)

-shop around, including researching online
-attending an accredited driving school usually results in an insurance discount
-bundling insurance needs (auto/homeowners/tenant package) with one insurer can result in savings
-investigate various coverages and deductibles
-ask about student discounts
-do the math. Compare any service fees for monthly payment programs on annual premiums to paying in full for a six-month policy
-installation of approved anti-theft devices, such as immobilizers and tracking devices, may result in discounts .
-pay insurance bills on time
-maintain a clean driving record. No tickets, charges, accidents or other claims can translate into a no-claims discount.
When applying for insurance, it’s crucial to fully inform your insurance company about who the principal drivers are, and who are the occasional drivers, says IBC’s Peter Warner. “By not doing so, an insurance company can cancel the insurance for `material change,’ or deny a claim.”
mailto:gilbert@wheelsanddeals.ca