The world of car insurance for young drivers in Ontario may be confusing. Knowing what coverage you need, how much coverage and how to find a good rate is a lot to process. At isure, we work with drivers of all ages to help them navigate the insurance market. Every day, we help our customers find great insurance at an affordable rate. Best of all, we’re here to answer and explain every aspect of a policy. So, let’s talk about what car insurance you need as a young driver and what to expect!
What is Car Insurance?
In Ontario, car insurance is mandatory for all drivers. Essentially what it provides is financial protection for yourself and other people in event of an accident. If you get into an accident, the cost of repairs or injuries can be significant, and if you get sued it can be even higher. As such, car insurance helps to cut the financial impact of a mistake.
The Cost of Car Insurance for Young Drivers
The first thing that you will notice about car insurance for young drivers, is the cost. It’s going to be expensive at first. Insurance rates are based on a variety of factors that include age, experience, location and other indicators. Young drivers are statistically more likely to be in a car accident, as such the rates are higher. If you want to find cheaper car insurance for young drivers, request an auto insurance quote through isure. We compare the rates of Ontario’s best insurance companies to find you a cheaper plan!
Saving on Car Insurance
As a young driver, there aren’t many discounts that you can access. That said, there are a few that you can take advantage of to save money. The ways to save on car insurance include:
Bundle Policies: If you live at home, put your car insurance in with your parents’ policy. There is always a slight discount with each extra policy you add to an account.
Be an Occasional Driver: If you don’t own a car, and instead only drive occasionally – go with that. Being added as an occasional driver on your parents’ insurance will increase their premiums, but not as much as a new policy would.
Complete Drivers Education: If you complete drivers education, many insurance company will provide you with a discount.
Get Your G License ASAP: At each level of the license system, there is a discount for you as a driver. G2 insurance rates are more expensive than Full G license.
Get Good Grades: If you’re a post-secondary student, some insurance companies offer a discount if you maintain a 3.5 GPA or better.
Being Safe as a Young Driver
As a young driver, you are statistically the most dangerous on the road. That said, you don’t need to contribute to those negative statistics! When you get behind the wheel, aim to be the perfect driver. Never speed, obey traffic signs and give yourself plenty of space and time on the road. Turn your phone off, and keep your stereo system at a reasonable level. Get from point A to point B, and then continue with your life! A car is an important responsibility, so treat it with the respect it deserves!