Money Saving Insurance Tips for Young Drivers

Typically, young adults pay more for car insurance than anyone else under age 70 because they are considered the riskiest drivers on the road. While there is no way for young adults to speed up the aging process, that doesn't mean they're helpless in the face of high insurance premiums.

Among the more popular ways for young and even seasoned drivers to lower their rates include the following:

• take a defensive driver course
• raise comprehensive and collision coverage deductibles
• commute using public transportation and let the insurance company know
• buy a home or renter's policy with the same car insurance company
• buy a safer car

  Another way to save money on auto insurance is to purchase a vehicle with front and side airbags, antilock brakes, automatic seatbelts, and daytime running lights. Many insurance companies give discounts for these safety features.

  If the consumer owns an older vehicle, it may be a good idea to drop the collision and comprehensive coverages from the policy because both coverages require the insured to pay a deductible in the event they file a claim, and in some cases that may be more than the car is worth.

  Vehicle owners who were recently married or turned 25 years of age will also notice a considerable drop in auto insurance rates because insurance companies view married couples and people 25 and older as more "stable" and less of a risk.

  Young adult drivers who live with their parents but don't own their own car can save money by staying on their parents' policy. This saves money because parents are considered lower-risk drivers and will likely have a better auto insurance rate than a young driver with their own policy.

  Finally, look into what other insurance coverages you already have and see if you're paying for double coverage. If you have health insurance through your employer, you can waive Personal Injury Protection (PIP), which pays for your medical expenses in the event of an accident. At times, some car insurance companies will allow you to limit medical damages under your uninsured motorist coverage in exchange for a lower premium.

  For additional information on saving money on car insurance, visit www.insurance.com.