Youthful Drivers vs. Low Insurance Premiums

Posted by Angela Hurst

Oct 30, 2013 6:31:00 AM

You know it's coming. You're son or daughter is approaching the age of solo-driving. How in the world are we going to afford the insurance premium? Low insurance premiums are wishful thinking, right? Well, not so much.

Your thought process may have you considering reducing coverage.  The fact is you just added a high risk driver and yet you're considering reducing your coverage... That's the equivilant of buying a larger home but not buying more coverage. Makes very little sense.

Instead, consider these steps when looking for affordable insurance in Arkansas for your youthful driver:

1. Choosing an automobile - While every teen dreams of a sports car, they have a higher rating and are not a good choice if you are looking to maintain a low insurance premium.  With my experience, I've found that some of the more affordable vehicles for a youthful driver is the Honda Accord, Ford Taurus, Ford Fusion, and Honda Fit Sport.  Each of these offers a safety rating that you as a parent can find comfortable, and your youthful driver will find presentable.

Some other vehicles with low insurance premiums:

  • Dodge Grand Caravan (good luck getting your teen to drive this one)
  • Chevy Impala
  • Jeep Wrangler
  • Volkswagen Passat
  • Scion xB
  • Mazda Tribute
  • Kia Rio5
  • Hyundai Santa Fe

2. Grades make a difference - Most insurance companies will offer a good student discount. Research shows that children who do well in school are more responsible, therefore more likely to follow the rules of the road.  Encourage your child to hit the books. Show them the savings, or maybe their earnings. My dad made me pay my own insurance premium. I was on his policy, but I had to pay my part. Good grades and a good driving record meant more money in my pocket. 

3. Drivers Education - Right along with good grades comes Driver's Ed. Again, show them the savings. There aren't many high school classes your youthful driver can take that will put money in their pocket. This is one of them, maybe even the only one. Most insurance companies offer a discount if your child has had a Driver’s Education class, and made at least a B.

4. Evaluate your Deductible - While you don't want to lower the liability coverage on your policy, you can consider increasing your deductible.  The higher the insurance deductible, the lower the premium. Retain some of the risk. I recently raised my deductibles from $500 to $1,000, on both comp and collision. I haven't made a claim since 2008. Why keep paying for a $500 deductible when I'm not using it?

Having a youthful driver is not the end of the world. It's not the end of eating out, or having date night. Take my advice on the few things listed above and you'll still have some cash in your wallet, and so will your youthful driver.

Don't hesitate to contact me if you have any questions.

Angela Hurst

The Gann Agency, an independent insurance agency in Bryant, Arkansas, will be happy to help with your youthful driver in order to find the most affordable auto insurance in Arkansas.

Arkansas Teen Driving Laws


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