Cost of Insuring Younger Drivers
Remember how excited you were when you first got your license? How eager you were to hit the road and feel real freedom, either alone or with your friends? If you were like most young drivers, you probably suffered a case of lead foot for a while, as you experienced real speed for the first time in your life. That novelty wore off, of course, but everyone had a similar learning curve to becoming a better and safer driver.
This is why car insurance companies treat younger drivers differently. Their premiums will almost always be higher because their lack of experience and young drivers enthusiasm leads to a greater number of accidents than the rest of the general population. Statistics from state to state and year after year always supports this, so young drivers almost always pay more for their car insurance. It simply costs insurance companies more to insure young drivers. If you are a young driver, or are the parent of a young driver, and youre researching car insurance for the first time, you need to be aware of the differences youll encounter in coverage for a young driver, as compared to the coverage offered to an adult with many years of safe driving experience. Whats more, young drivers tend to go for fun, flashy types of cars – and you can be sure those are more expensive to insure by far.
There are many ways to lower the costs of a young drivers car insurance. Some car insurance companies, for example, will reduce a young drivers car insurance premium if they enroll in safe-driving programs that enhance what theyve already learned in drivers education classes (in fact, everyone automatically gets a price break for completing Drivers Education). Some car insurance companies are also kinder to young drivers who maintain a high grade-point average in high school and college.
In addition, many insurance companies will offer different pricing plans based on age. Rest assured, as you get older and have more years of driving under your belt, your monthly premium will get cheaper.
As with all major financial commitments, of course, its important that you sit down face-to-face with an experienced professional who will give you his or her best, most valuable advice before you make any final decision. Feel free to ask them as many questions as you like you can never know too much when it comes to your car insurance.