Finding out what options are available to new male drivers for saving money.
If there’s anyone who knows about high auto insurance premiums, it’s young guys who are single and who have moved away from their parents.
These individuals typically pay the highest prices and are most eager to find discounts where they can.
When a man first gets his license, though he has gained a great deal of freedom through the ability to drive on his own, he also faces significant limitations in terms of his opportunities to do so in an affordable way. Even without ever having had a single speeding ticket, young men pay very high prices to maintain auto insurance coverage.
Though men will still have to pay higher auto insurance premiums, there are ways to save.
Some of the things that young men can do to make sure that they’re not paying a penny more than they have to include the following:
• Save an average of 15 percent by buying insurance from the same company as your parents.
• Take public transportation or a bicycle to school or work instead of driving for a savings of approximately 15 percent.
• College students who can maintain a grade point average of 3.0 or better can save up to 20 percent.
• A vehicle valued from $3,000 to $5,000 that is safe and older will not require auto insurance for theft or damage, only liability. This can bring a 35 percent savings.
It is also important to take certain precautions as certain actions lead to severe spikes in premiums.
• Slow down while driving, as two speeding tickets or causing an accident can lead to an additional 30 percent every year for the next three years.
• Never drink and drive. Not one drop. If you’re a driver, you’re a designated driver. If you receive a ticket while under the influence, you’ll face double or triple the rates for the next three years and for the two years after that, you’ll still pay 50 percent more.
Though auto insurance coverage remains expensive, by taking the right precautions and making the right choices, you will be able to keep your premiums as low as possible.