Car Loans Australia :: Articles
SHARE

Share this article!

7 Quick Car Insurance Tips for Teen Drivers

7 Quick Car Insurance Tips for Teen Drivers

For young drivers, getting a drivers license is like a ticket to freedom.
Driving provides a number of other obvious benefits as well, and it is largely considered a rite of passage into adulthood by the vast majority of teenagers.
However, there are many things to think about when you’re preparing to take the wheel, including a car insurance policy.

For young drivers, getting a drivers license is like a ticket to freedom. Driving provides a number of other obvious benefits as well, and it is largely considered a rite of passage into adulthood by the vast majority of teenagers.

However, there are many things to think about when you’re preparing to take the wheel, including a car insurance policy.

Here are a few quick tips to help young drivers navigate the world of car insurance:

1. Don’t be afraid to shop around

There are a lot of options out there and it can be overwhelming, but taking the time to find the right policy for you is worth it. Get quotes from different companies and compare features to find the best deal.

Car Finance- Quick & Easy
If you are in the market for a new or used car, then we're in the market to help you arrange the money. Our car loan & leasing finance service is backed by a national panel of car loan specialists who will establish your eligibility, find lender/s offering the best deals for your situation - and help you through the approval and settlement process. No charge to you - and no obligation to proceed with any recommendations offered.

2. Bundle your policies

Consider bundling your car insurance with other types of insurance, such as your parents’ homeowners policy or your own renter’s insurance. This can often lead to discounts and can make managing multiple policies easier.

3. Be sure to ask about discounts!

There are often discounts available for things like taking defensive driving courses, or being part of certain professional organizations. Make sure you ask about all the possibilities so you can take advantage of every savings opportunity available.

4. Remember that the cheapest option isn’t always the best option

Sometimes it makes sense to pay a little more for better coverage or customer service. Do your research and read reviews before making any decisions so you know what you’re getting into.

5. Talk to your parents

They might have some great insights since they’ve been through the car insurance process before. They can help you compare rates and make sure you’re getting the best possible deal.

6. Be prepared to pay more

Unfortunately, young drivers often have to pay higher rates due to statistics showing that they are more likely to be involved in accidents. However, there are still ways to save money (see tip 3).

7. Review your policy regularly

As you get older and gain more experience behind the wheel, your car insurance needs will change. Review your policy every year or so and make adjustments as needed so you’re always getting the best possible coverage at a price you can afford.

Share this article:

Insuring your most valuable asset
While many people would consider their home or their car to be their most valuable asset, it's your ability to earn an income that is most important in shaping your financial future. Statistically, two thirds of working Australians will suffer an injury or illness that will sideline them for 90 days or more. The majority of these people would not be able to pay their mortgage or meet car finance and other loan commitments without adequate income insurance.


Car Loans Articles

Car Leasing Car Leasing
Leasing is an often misunderstood car financing option so, in response to subscriber feedback, we've included this article to help give you a better understanding of what it is and how it works. - read more
7 Quick Car Insurance Tips for Teen Drivers 7 Quick Car Insurance Tips for Teen Drivers
For young drivers, getting a drivers license is like a ticket to freedom. Driving provides a number of other obvious benefits as well, and it is largely considered a rite of passage into adulthood by the vast majority of teenagers. However, there are many things to think about when you’re preparing to take the wheel, including a car insurance policy. - read more
5 Simple Steps to Buy Your Dream Car Now 5 Simple Steps to Buy Your Dream Car Now
For many people, owning a car is a symbol of success and freedom. It’s not simply a matter of transport, it's a way to show the world that you’ve made it. But for others, the prospect of owning a car is a distant dream. If you’re in the latter group, then this guide is for you. - read more
Car Financing: Top 10 Car Loan Questions Car Financing: Top 10 Car Loan Questions
There are a lot of factors to consider when taking out a loan for a car. In this article, we'll answer some common questions about taking out a loan for a car, so you can make the best decision for your situation. - read more
When to use a Finance Broker for Car Loan Finance  When to use a Finance Broker for Car Loan Finance 
Whether you're buying a car for the first time or you've been through the process before, it's always worth considering whether or not you should use a finance broker to arrange your car loan. In this article, we'll weigh up the pros and cons of using a specialist finance broker so that you can make the best decision for your circumstances. - read more

Finance News

Fierce competition in the mortgage industry: customers switching banks at a record rate Fierce competition in the mortgage industry: customers switching banks at a record rate
23 Mar 2023: .financialservicesonline.com.au

Recent analysis provided to a Senate inquiry by the Australian Banking Association (ABA) has shown that a staggering 70% of home loan customers whose fixed mortgage rates expired in the past six months have refinanced with a different bank. The trend is leading to increasingly intense competition in the $2 trillion home loan market and poses significant risks for lenders as home loan books face unprecedented levels of turnover. - read more
Banking Experts Predict Interest Rate Hike Pause Banking Experts Predict Interest Rate Hike Pause
21 Mar 2023: .financialservicesonline.com.au

Financial experts are predicting a pause on interest rate hikes in Australia, which could happen in April or May. While there may not be any rate cuts yet, Bendigo and Adelaide Bank's chief economist, David Robertson, believes a range of factors suggest a pause in interest rates is on the horizon. - read more
Why Central Banks May Not Be Able to Salvage the Global Banking Industry Why Central Banks May Not Be Able to Salvage the Global Banking Industry
20 Mar 2023: .financialservicesonline.com.au

The global banking industry has been hit by a double whammy: the US banking crisis and the European banking crisis. A recent development in the US market saw First Republic Bank plan to sell part of its equity as a means of raising funds. - read more
What the Latest Latitude Financial Cyberattack Means for Customer Security What the Latest Latitude Financial Cyberattack Means for Customer Security
17 Mar 2023: .financialservicesonline.com.au

The recent cyberattack on Latitude Financial has affected more than 300,000 customers and resulted in the exposure of sensitive personal information. This goes to show that even larger Australian companies are not immune to cybercriminals trying to steal valuable data. - read more
The Perfect Storm: First Home Buyers in Australia Struggle to Enter the Property Market The Perfect Storm: First Home Buyers in Australia Struggle to Enter the Property Market
14 Mar 2023: .financialservicesonline.com.au

First home buyers in Australia face an uphill battle to get into the property market. The rental market is tighter than ever before, with double-digit rent increases making it difficult for prospective buyers to save for a deposit. - read more

Need Help Finding a Loan?
Get a free car loan eligibility assessment and compare offers tailored specifically to your circumstances.
Loan Amount:
Postcode:
All finance quotes are provided free (via our secure server) and without obligation.
We respect your privacy.

Knowledgebase
Debt Consolidation:
A means empoyed to renegotiate debt. By combining loans and outstanding bills, a person can consolidate debt with a single financial institution resulting in a single monthly repayment.