Teenage boys are among the most excited of any young person when they are first eligible to drive. Many young men, in particular, save for months or years by working odd jobs in order to purchase their first car (usually a used one). Other lucky ones get family help to purchase a brand new car while still a teenager.
Whether setting out for the first time in a used or new car, teenage boys will be required to purchase car insurance. No matter what state you live in, some sort of automobile insurance is required for teenage boys.
Teenage Boys Have A Bad Rap In Eyes Of Insurance Industry
When looking for the cheap car insurance for a teenage boy, there are two things working against you: the fact that you are a boy and your age.
In terms of your sex: insurance companies universally recognize that woman are safer - or at least less costly - drivers for insurance companies. In other words, while women may get into as many accidents as do men, women's accidents tend to be less serious on average. This fact makes women less costly to insure for insurance companies. Again, not good news for a teenage boy looking for cheap car insurance.
The other factor is your age. Specifically, insurance actuaries (those statistics wizards who sit in dark rooms all day figuring out how much to charge each applicant based upon various characteristics) have shown that boys 25 and under are most costly to insure. Chalk it up to the extra testosterone or the not-completely-formed frontal lobes in the brain, young men on average just take more risks than do you men over the age of 25. More risks means more accidents, which means higher insurance premiums.
Finding The Cheapest Car Insurance For A Teenage Boy
Given these factors not in their favor, finding the cheapest car insurance for a teenage boy requires some knowledge and ingenuity. There are three ways for these young men to reduce their premiums:
1. Figure out as many discounts as possible for which they are eligible.
2. Only purchase the insurance they need (but no more).
3. Rigorously shop for the best deal.
Go For The Discounts
Everybody - teenage boys being no exception - should become aware of the possible range of discounts that insurance companies offer applicants. While many insurance companies will ask you questions to determine your eligibility, they may not be thorough enough to cover all of the possibilities. Rather, it is your job to request as many discounts as you can think of. Examples include good student, good driving record, and low mileage. Do your research before calling.
Consider Going Light On Liability Coverage
In terms of insurance coverage, almost all states require at minimum liability coverage. This is the type of insurance that covers the other party's medical and property damage bills if you cause an accident. However, you may only need to purchase the minimum amount required by your state.
Adults over 25 sometimes have a net worth (in terms of assets) that they want to protect in the event of a post-accident lawsuit, so they will often buy more liability coverage than is required by law. However, most teenage boys do not have a high net worth, so there is little to protect. In their case, it may be advisable to only buy the minimum.
Shop Around
Make sure to approach multiple auto insurance companies for insurance quotes. You may be surprised at how much they can vary from one to the next in terms of insurance premiums on the same teenage boy. Be sure to record your findings, including contact info for each company you contact, so that you can go back later and contact the company who offered you the best deal.
