If you're looking into buying a new car insurance policy, it pays to learn some of the terms involved - especially if this is the first time you've bought car insurance. You can often find a much better car insurance quote by knowing the different techniques and plan types that insurers offer, rather than just hitting the Internet and hoping for the best. One way to get lower auto insurance premiums is to look into obtaining a spin-off policy.
A spin-off car insurance policy is a special type of coverage that's only available to individuals who have been insured under a certain insurance company, but haven't had their name on the policy itself. (This is the terminology that most insurers use when referring to this policy type, however some insurers might call it something else). For example, if you're a teenage driver who has had a parent pay for your car insurance, but you decide to get your own vehicle and policy, you might get the spin-off car insurance policy. A spin-off policy will usually result in a much better insurance rate for younger drivers. They may not have a driving history that warrants a low rate, but because their parents have good histories and trusted the young driver enough to provide coverage for them, the insurance company will give the younger driver a break on premium costs. It's also a pretty straightforward incentive that insurers use to avoid losing any business, and to get younger drivers into a policy as early as possible.
If you have the ability to get a spin-off policy, you should certainly consider it. However, you shouldn't automatically buy it without weighing your other options. While these policies might be cheaper than an unrelated policy with the same company, they might not be the cheapest (or most comprehensive) insurance policies available to young drivers overall. Any time you're looking for the best possible car insurance rates, it's worthwhile to use a few comparison shopping websites to see what kind of quotes you're eligible for from other companies. Even if you've already decided that you want to use Mom or Dad's car insurance company, if you find a lower quote from a different company, you can often use it as a bargaining chip to negotiate a lower rate.
Spin-off auto insurance policies are usually a very good way to save money while getting a good amount of insurance coverage. It makes little sense to not take advantage of the option. Still, it's always a good idea to investigate other possibilities before making a decision, especially when it comes to buying car insurance coverage for younger drivers.