Scary Car Insurance Rates For Teenagers
If you have a teenage son or daughter close to the legal age to drive, you are probably starting to worry about how you are ever going to afford the insurance that you will inevitably end up paying, because car insurance rates for teenagers can be sky high.
Don’t be too disheartened though, there ways to get discounts if you know what to do.
Insuring your teenager to drive could lead to your insurance rates doubling or even tripling, for the simple fact that they are more likely to be involved in an accident at that age. Statistics show us that a young person under 20 years old is three times more likely to be involved in an accident that someone over the age of 20. Our insurance rates are reduced when we reach 25 for a good reason; we are more mature then, and we are more aware of the risks involved with driving, which makes us safer drivers.
Teenagers just starting out make a lot of mistakes, and as the amount you pay for your insurance is directly related to the level of risk you pose, so they end up paying very high insurance rates. There are ways you can reduce the amount you have to pay; if your teenager attends an accredited drivers school or drivers education class, they can get a 10% to 20% discount with their pass certificate.
In the United States, insurance companies will also look at giving a discount to good students, if you have a ‘B’ average or better, you should be able to get another 20% discount on your policy. Keeping a clean drivers license will also help your teenager find even lower rates.
Taking some time to explain to your son or daughter exactly why car insurance rates for teenagers are so high might just save you some money, but more importantly, it might just keep them safer on the road.
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The 5 Causes Of Rocketing Car Insurance For Teenagers - Part 3
I Know Where You Live!
When I asked my insurance agent why my payments were so high, he said “it’s because they know where you live”. Was this a threat?, Because it sounded like one, “Should I be scared? - Do I need to find a lawyer?” I asked him, would they be sending someone round in the middle of the night to check that my tyre pressures were correct or worse still my oil level?
Why should where I live affect what I pay for my car insurance? When I first realized that it did make a difference, it didn’t make any sense at all; surely my 2 bed apartment couldn’t be held responsible if I decided to run a red light. It doesn’t affect how I drive or whether I was going to have an accident today.
Well, it soon turned out that it isn’t the fact that I live in a 2 bed apartment; it’s where that apartment is that makes the difference. Bottom line is, you will always get cheaper Car Insurance For Young Driver if you live in a rural location rather than a big town or city like me.
Why Is That?
If you live in a rural area, the chances are that the traffic levels are much less where you live. This translates into less chance of having an accident, which I guess makes sense, if there are fewer other drivers on the road, there are less people for you to run in to.
As well as lower levels of traffic in rural areas, there is, generally speaking, less crime. That means less chance of having your car stolen, less chance you will become the victim of vandalism, and less chance of your car being damaged while it’s parked out front at night.
What Can You Do?
Car Insurance For Teenagers can be very expensive, but moving your entire family just to save some money is probably a little drastic. If you live in a rural location then you’re lucky, you will more than likely pay much less than your city-dwelling cousin. If you don’t, and you live in the city like me, you will have to work extra hard on the other things that influence the price of your insurance to bring your payments down.
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Young Driver Motor Insurance Will Be Expensive
Unfortunately there is no such thing as really cheap young driver motor insurance, but there are ways of making it as cheap as possible. The best situation you can hope for if you are under twenty years old is that you can find young driver motor insurance that adequately covers your needs, and is affordable so that you can at least build up a good driving record.
Teenage drivers have always found it difficult and expensive to get car insurance, but in recent years things have definitely taken a turn for the worst. The reason behind this is that statistically the young drivers age group are far more likely to be involved in an accident because they drive faster, have less experience in risky situations, and they make more night journeys which is a time when more accidents occur.
An insurance company only looks at the level of risk you present as a driver, they do this by looking at the statistic averages for your age group, where you live, your gender and the type of car you drive. If you are a teenage boy living in a big city, you will fall in to the highest risk category which is why you will sometimes be asked to pay 5 or 10 more than your vehicle cost just to insure it for 1 year.
Why so much to insure a car that only cost a few hundred? Well, just say you cause an accident with a top of the range BMW, Mercedes or Jaguar, and your car is only slightly dented but the other car is totalled. The insurance company’s liability isn’t limited to fixing your dents, it will also have to replace the other car and that will cost tens of thousands.
There are a few things you can do to minimise the cost of insurance, such as buy a car with a small engine, keep a clean license, don’t modify your car in any way and pass an accredited advanced drivers course. These things won’t make your young driver motor insurance cheap, but they will reduce that cost by as much as possible.
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