Any individual aged below twenty-five years of age is considered a young driver. It is no surprise that for several reasons, young drivers’ insurance can be costly in Canada. However, since getting insurance is legally mandatory to drive a car in every province of Canada, young drivers are always looking to get the most affordable insurance rate.
So, if you’re listed in the “young driver” category and want to find the best insurance policy, you’ve landed at the right place. Auto insurance differs from one automobile company to another. Therefore, while purchasing a car, is it best to know how much insurance you’ll need to pay for using it. However, this can be time-consuming.
Want to compare the best young driver car insurance quotes in your area? You can visit best sevice providing companies, like Surex, to learn more and compare competitive quotes from top-rated insurers in Canada.
In this guide, we’ve curated a list of automobile brands and models that are insurance friendly for young drivers.
What is Young Driver Insurance?
You’ll be considered under the “young driver insurance” category if you’re in the age bracket between 16 and 24, generally with no previous driving experience or history, but have secured a valid driving license by passing the required driving assessment. As a young driver, your insurance premiums will be higher than an older or experienced driver.
Why can Young Driver Insurance be Expensive?
Insurance companies charge higher premiums for young drivers because they have more potential to cause or get involved in a collision than experienced drivers. Consequently, being a young driver, you’re more likely to file for a claim and thus become riskier to provide insurance from an insurance company perspective.
In Canada, only 10% of the driving population represents young drivers. But this section contributes to almost 25% of road accidents or collisions leading to life-threatening consequences or grave injuries this makes finding the best young driver car insurance challenging.
Types of Car Insurance
In Canada, when you approach any auto insurance agency, you’ll find several types of auto insurance. Depending on your residential province, the mandatory and optional insurances vary. Some of the most common auto insurance include:
1. Accident Forgiveness Coverage
With forgiveness coverage, your first at-fault accident isn’t considered a part of your driving record for deciding the premium during renewal. Thus, your premium will remain the same unless any other factors apart from the accident result in a claim.
2. Rental Policy
With this scheme, you can extend your general car insurance to get coverage while operating a rental vehicle. However, there’s a limit to how much can be claimed through this policy.
3. Comprehensive Policy
It involves coverage from almost every risk factor that has the potential to damage your car except accidents. Such policies generally cover fire destruction, hailstorm or flood damage, theft or vandalism, animal collision, falling objects such as concrete blocks, tree branches, etc.
4. Collision Insurance
Provides financial coverage for repairing or completing car replacement if it gets seriously or minimally damaged in any type of road accident or collision such as an at-fault accident, hit and run or collision with an uninsured driver.
5. Liability Policy
During at-fault accidents, you might need to provide compensation to the third party involved in the accident. The liability policy offers coverage for bodily injuries or physical damage to property caused by you.
How to Get Affordable Car Insurance for Young Drivers?
Affordable car insurance with minimal premiums for young drivers can be obtained through various techniques, including:
- Comparison of various policies to get the best rates and coverages.
- Making annual premium payments as compared to monthly installments.
- Removing fluff and unnecessary additional elements from your policy
- Maintaining a good and clean driving record.
- Tracking your driving
- Purchasing the correct vehicle with anti-theft, high safety rating, and economical replaceable parts
- Making timely payments and not missing a payment date.
- Good credit history
- If you’re confident in your driving skills, increase your deductible amount.
- Get covered under parent’s insurance. (Generally possible with temporary learning licenses)
- Combine different policies for discounts and rebates
- Join their newsletter or social circle of insurance companies to get updates on discounts and ask for discounts during purchase.
Cars with Cheap Insurance for Young Drivers
Thankfully, in Canada, despite the insurance premiums being expensive, some models and brands attract fewer rates when compared to other brands and models. If you’re planning to purchase second-hand models, pick one from the following list:
- 2009 Dodge Journey- Costs almost 43% less as compared to the national auto premium average due to its excellent safety ratings, road reliability, and economic performance.
- 2011 Ford F150- Costs almost 35.78% less than the national insurance average due to its fuel efficiency, easy availability of replacement parts, and remarkable towing capability.
- 2011 Chevrolet Cruze- This car is 28.83% less costly than the national auto insurance policy average owing to the top safety ranking by International Institute for Highway Safety and exceptional performance in collision evaluation.
- 2015 Volkswagen Golf- Costing almost 27.89% less expensive than the national average, this vehicle has earned a spectacular reputation for its size and dimensions, road safety, performance reliability and versatility.
- 2019 Dodge Grand Caravan GT- With this model, enjoy an almost 25.94% reduction in insurance premium costs compared to the national average.
Insurance Based on the Car Type
Here are the options for the best car for young driver insurance rates (based on different model types):
- Honda CR-V- $2,195
- Jeep Wrangler- $1,968
- Hyundai Santa Fe Sport- $2,463
- Dodge Journey- $2,065
- Jeep Cherokee- $2,667
- Chevrolet Colorado- $2,161
- Toyota Tundra- $2,499
- Chevrolet Silverado- $2,301
- Nissan Titan- $2,583
- Nissan Frontier- $2,361
Sports Car Model
- 2017 Mazda MX-5 Miata- $2,512
- 2017 BMW Z4 Roadster- $3,170
- 2017 Subaru BRZ- $3,441
- 2017 Porsche Boxster- $2,951
- 2018 Audi TT-$3,055
How to Choose a Vehicle That Costs Less to Insure?
- As a young driver, start with a compact SUV or hatchback. They’re easier to manage and operate.
- Purchasing a second-hand vehicle that’s in good condition isn’t too old.
- Sports cars might look highly tempting, but the premiums can be sky-rocketing. Avoid the temptation of getting a sports car.
- Check the safety and collision rating.
- Prepare a list of the most stolen cars in your province, and avoid purchasing any model from the list.
Getting a young driver’s best car for cheap insurance can be challenging but not impossible. This guide can help you pick the rough vehicle with the lowest premiums.
If you need more guidance, contact a professional insurance broker to get the best rates and insurance consultation.
John Davis is a passionate content writer with a knack for crafting engaging narratives across various subjects. With a keen eye for detail and a love for storytelling, John brings ideas to life through the power of words. His dedication to delivering high-quality and informative content has made him a trusted voice in the digital realm. When he’s not at his desk, you’ll find John exploring new hobbies and seeking inspiration in the world around him.