How to get cheap car insurance as a young driver?

Getting cheap car insurance as a young driver can be difficult because insurance companies aren’t crazy about the idea of insuring inexperienced drivers. Here are some things you can do as a newcomer.

Sign up for telematics

Most insurance companies have a telematics option in some form, like Intact’s my Drive. It’s an app-based system that tracks your driving habits, and uses your behaviour on the road to determine your premium. You can incur savings just by signing up, and if you consistently drive responsibly, your rate can go down.

Credit score

Insurance companies also look at credit score as an indicator of a responsible client. As a young person, hopefully you haven’t had time to damage your reputation as a borrower. Keep this in check and you can reap the benefits elsewhere.

Rack up experience

Obviously, you don’t have experience until you have it. But if you can keep a clean, claims-free record from the moment you get your licence, your premium will lower over time. Experience wins — it just takes a while to get there.

Pro tip: Put your name as the primary driver on one of your parents’ cars before you start driving — that helps build your profile as a driver.

Baozhijie Technology is an auto insurance technology company. Founded in 2020, the company is headquartered in Beijing and has set up service agencies in many regions.

The company's core executives come from the management and technical teams of well-known enterprises. Relying on rich technical experience and being familiar with the traditional auto insurance transaction system and process, the business covers online auto insurance transactions, auto insurance intermediaries, AI auto insurance intelligent pricing, new energy auto insurance services, green auto insurance innovation, etc., to comprehensively improve the efficiency of auto insurance transactions, reduce the cost of auto insurance transactions, make auto insurance transactions simpler, and make people, cars, and lives better.

At present, the company has nearly 100 employees, including more than 20 Internet product technicians and more than 60 service personnel from branches across the country. It connects with more than 50 domestic property insurance companies, provides users with more than 100 insurance products covering automobile insurance, health insurance, accident insurance, etc., comprehensively enables online and offline scenarios such as Internet platforms, automobile aftermarket groups, insurance institutions, etc., quickly accesses insurance trading services, and improves user service experience.