Is there any loop holes in lowering your insurance if your under 25?

Question

My insurance will be like 500 a month and im trying to figure out ways to make it go down! any suggestions?

Answer 1

I don't know where you are, but if you are in the UK you could

take pass plus lessons. Some insurers allow a 30% discount if you do this.

Answer 2

Not many but you can try:

1.  Shop around.  There are carriers that cost less.

2.  If possible, stick with parents policy.

3.  When picking out a car, use logic:  don't buy a sports car; or don't buy a car where the collision coverage is too high.  This is where some folks get into trouble.  They pick out a car that when damage occurs(your fault), it takes an arm and a leg to repair.

Answer 3

Hi,

Why do you want a short-cut route?There's no loop-holes.If you're talking about Indian insurers,there is no provision of discount in premium for under 25 category.Discount is given to claim-free years,family coverage,good risks etc.You've not mentioned of what type of policy you're talking about.So,please be specific.

Answer 4

You can do a couple things.   1.  pay off the car, delete the collision coverage, or raise the deductible really, really high.  You can't do that while there's a loan on the car.  That collision, for an under 25 driver, is likely the most expensive part.     2.  get a renters policy with the same company.  It will likely cost you about $150 a year, and save you 10% to 20% - WAY more than it costs you.  3.  shop around to another insurance company.  There's no short cut, and the cheapest company for you, might change every year.