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Tips For Young Drivers To Save Money On Car Insurance

How can an insurance company provide coverage at a low premium to young drivers that they have very little information on?

Ontario insurance companies have had conflicts with how to administer insurance premiums for young drivers. These new drivers are one of the most expensive drivers to insure for a variety of different reasons:

  • New drivers do not have a previous driving history or record
  • New drivers are inexperienced when it comes to driving
  • New drivers are statistically more likely to be involved in a collision

Driver Education Course

Despite these factors there are ways for young drivers to actually lower their premium. One of the best ways to do this is through the completion of a driver education course. Not sure what that is? Driver education courses are designed to prepare new or young drivers with a solid foundation for their driving skills. These courses involve lectures along with actual in car lesson to prepare drivers so they can make smart, confident decisions on the road, and reduce the risk of collisions or unsafe driving.



Insurance companies recognize and appreciate drivers who have completed a driver education program and take this into account when conducting their risk assessment. Many insurance companies look at the education aspect of newly licensed drivers and will reward those drivers with savings when it comes to their insurance premium. BE CAREFUL! Not all driving schools qualify for insurance reductions so where you enroll to complete your driver education program is important! In Ontario, if the driving education course is not approved by the Ministry of Transportation you will not qualify for insurance savings. To get a list of all the active and recognized driver education courses in your area visit


Your School Grades

But wait there are still more ways to save! Education, as it relates to reducing an insurance premium for young drivers, can actually go beyond just the driver education programs. Students between the ages of 16 – 24 can also receive insurance savings through the good student discount. All the good student discount requires is that the student maintains a specific average and provides their transcripts as evidence. Many insurance companies recognize this discount and offer savings to students with good marks because they believe it translates into drivers who make better decisions and are more knowledgeable about the rules of the road. So if you’re a parent reading this, make sure you talk to your broker and see if your child can qualify. And if you’re a student reading this, hit those books! It is a win-win, you become more intelligent and as a bonus also save on your car insurance. Think about it this way; hit the books now, get good grades, save on your Ontario car insurance, now when the time comes you can actually afford a car and are able to go pick up your hot date rather than having your parents drive you or showing up in your moms van (No offense to all the wonderful soccer moms out there, you make the world go round and you can make any vehicle sexy).


An important aspect to note regarding the good student discount is that the student needs to maintain their average because the good student discount doesn’t carry over automatically.

Telematics Program

You can install a device that plugs into your vehicle an monitors your driving habits. Woah, wait a second that sounds scary! Now someone will know every time I am speeding or driving past my bed time? Well kind of, the device simply monitors your driving habits and is installed in your vehicle for a few months. It will monitor things such as acceleration, average speed, break pressure, time of day you are driving, etc. So wait remind me why I want this again? Ahh great question! You want it because it guarantees you will save money. You get a 10% discount on your premium just for installing the system, and you only need it installed for a few months. If you are a good driver during the course of that time you can save up to 25% at renewal, and even if you are a bad driver you are not penalized.

Maintain A Good Driving Record

Keep in mind that as you become a more experienced driver you will be able to qualify for better insurance rates if you maintain a good driving record. Some insurance companies even offer rewards to experienced drivers who take refresher driver education or specialty programs. It’s true that young drivers can be expensive to insure, but that doesn’t mean there is nothing you can do about it! Enroll in a driver education course that is approved by the Ministry of Transportation and work hard in school to take a step in the right direction with your car insurance policy.


To talk to a broker about discounts you may qualify for give us a call at 1-800-361-0941. Interested in a quote? Fill out the form below and have one of our representatives walk you through the process.




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