Young Driver Auto Insurance
If you are a young driver or newly licensed in Ontario, you know that it can be difficult to find car insurance that is affordable. Young drivers and newly licensed drivers pay big dollars in Ontario every year to drive their cars.
Who are young drivers?
Insurance companies define young drivers in various ways. Young drivers can include people who are just newly licensed and are between the ages of 16-24, people who are 25 and older but who are newly licensed and people who have not yet accumulated various years of experience while driving in Canada or in the United States.
How can young drivers reduce their car insurance premiums?
Maximize the discounts that insurance companies make available to them.
Here are some discounts that are available for young drivers:
- Graduated license discount
- Multi-line discount
- Multi-vehicle discount
- Driver Training Discount
- Young Drivers Discount
- Usage Based Insurance Discount
- Telematics Discount
- My Driving Discount
- Winter tire Discount
Young drivers should not delay in attaining their different levels of license in Ontario.
When a driver in Ontario has attained their G1 level license, they should apply and book a date for their G2 license road test. When they pass their G2 road test they should schedule their G road test as soon as possible. Young drivers should go through the licensing process as quickly as possible as it will give them the Graduated License Discount. If they delay they will lose the Graduated License Discount, causing their insurance price to go up.
Young drivers should maintain an accident free and conviction free driving record.
This is difficult for young drivers because statistics show that within the first six months of becoming licensed, 20% of drivers will be involved in an accident. When young drivers accumulate tickets and accidents within a certain period of time, their car insurance policy premium can be surcharged. If they accumulate multiple tickets or accidents, their insurance company could cancel their insurance altogether.
Young drivers need to be aware of their driving habits.
Over 90% of the accidents that young drivers are involved in are because of driving habit, not because of inadequate skill in operating a vehicle. To help young drivers, insurance companies offer Usage Based Insurance Telematic solutions which monitor the way young drivers drive. Weekly reports are sent to the young driver so they are able to monitor their driving habits. The young driver can work on and correct their driving habits and work to attain higher discounts which reward young drivers based on their usage of the vehicle. We are able to extend these discounts to you through Intact’s myDriving Discount.
Young drivers need to be wise with the vehicle they purchase and insure. When purchasing a vehicle it is very important for the young driver to select a vehicle that fits within their budget. Young drivers need to look at the year of the vehicle, the age of the vehicle, the gas mileage, and the mechanical history. For insurance pricing purposes, the value of the vehicle, the accident rating, and the vehicle type all play a factor in the insurance pricing. The best idea is to call us with the vehicles you are interested in and we can provide quotes to you.
If you would like to see how our insurance premiums compare to your current provider, please contact us for a free, no obligation quote from one of our knowledgeable and friendly insurance brokers.