The Insurance Institute for Highway Safety states that young drivers are more likely to speed and cause serious accidents than their older counterparts. Young drivers tend to be more dangerous than older drivers around the age of 25, so auto insurance companies often offer lower rates for those 25-plus. These rates drop until 65 when senior drivers are added to the statistically more risky category.
Does age affect car insurance rates for young drivers in the United States?
Young drivers’ rates may rise not only due to their age but also because of other factors. Gender plays an important role. Statistics show that young males are statistically more likely to be in an accident than young females. Therefore, their rates tend be higher. However, “Statistically probable” does not necessarily mean that all young men are bad drivers. Statistics are merely a measure of the likelihood that a particular group member will have certain characteristics. Young drivers are more at-risk because of the high number of accidents among young men.
Experience is one factor that can contribute to this statistic. By definition, young males lack the experience that older drivers have in dealing with different situations. For example, they are more likely to rear-end another motorist by following too closely. Youth mentality is another factor. Younger drivers are more energetic and more excited than older drivers. They are also more likely to speed up and engage in dangerous behaviors.
Where can I get cheap car insurance for young drivers.
You can reduce the insurance premiums of a young driver, but you can also make them a safer driver.
Insurance for young drivers under parents’ policies
Young males must buy their own car insurance. This is the most expensive type. Premiums are usually lower if a youth or teen can be added to a parent’s policy. Parents can insure college students who are not at home. Talk to your agent about the limitations of adding your child to your insurance.
Many auto insurance companies offer discounts to drivers who are good students, have driver training, and other factors. Ask your agent about any discounts that may be available for your child’s insurance.
Select your vehicle carefully
Although a teenager may be elated to have the keys to a new sports car, it will definitely make you pay for your insurance. Insurance companies offer lower rates for vehicles that aren’t designed for speed, and more protection in case of an accident. These vehicles, like family sedans, offer less risk than higher-risk vehicles like sports cars. Because they offer less protection in the event that an accident occurs, even compact cars can have higher rates. Also, more expensive vehicles will have higher rates, as they are more costly to repair.
Get discounts on safety features
Teens and young adults can benefit from discounts on safety features such as airbags and anti-lock brakes.
Avoid speeding tickets
Although it may seem redundant, many people don’t think about the implications for their insurance if they speed up or engage in dangerous behavior. Talking to your teen about these issues early on can help prevent problems. Remind your teen not to lend his or her vehicle to anyone. Any incidents that affect your insurance policy, even if covered, may result in an increase in your rates.
Get insurance companies courses
Some companies offer training courses that help young drivers to keep their insurance costs down. These courses can be found on the company website or by talking to your agent.