Being a young vehicle owner isn’t a walk in the park especially when you need to take out car insurance. This is because insurance companies see you as being at higher risk to be involved in an accident.
My University days were laced with phone calls from the motor vehicle department reminding me of all my speeding tickets and parking violations. Although they never revoked my license I don’t think a driving record can get much worse without losing your license altogether.
Being a driver under the age of 25 and not having a spotless driving record may result in very expensive insurance rates. At one time I had fifteen tickets on my record. Cheap car insurance was out of the question. Getting vehicle insurance at all was the issue. Many companies would not even insure me! The companies that considered insuring me would not touch me for less than R6 000 per month. To make a long story short I did end up with affordable insurance.
Watch out for the following:
Before running out and getting quotes from all over the internet there are some things to know. I was able to find an insurance premium for about R1 360 per month while having that driving record.
I also forgot to say that I had one accident claim on record also. I was able to find very affordable insurance. The difference is the coverage. I did have to give some things up though.
Many companies are very different in what they offer. Their services could range from free vehicle towing to very high deductibles. Be sure to compare not only the quoted rate but also the coverage. And remember, in three years most provinces will clear your driving record and when you hit the age of 25 your rates will decrease dramatically.
Insuring your vehicle under your parent’s name or taking out 3rd party insurance will in the mean time lower your premiums significantly. Being a student you do not have to worry about the grown-up world too much. But when you are in an accident, be sure that you are covered.