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Young Drivers Car Insurance


Young Drivers Car Insurance

There is nothing more memorable than the freedom that comes along with the ownership of your first car. The one thing that can ruin this wonderful event however is the realisation that with great power comes great responsibility. Right along with your licence you have to shop for insurance. As unfair as it is the cost of insurance for young drivers (anyone under the age of 25) is normally much higher than it would be for an older person. In fact, in most cases it is so high that young drivers are unable to get a car of their own until they have been driving for a number of years.

What are the reasons for this high insurance rates for young drivers?

A young driver is statistically more likely to have a motoring accident than an older, more experienced driver. The main reasons for these statistics are quoted as being inexperience and a greater propensity for taking risks. That does not make all young drivers bad drivers, however, and worse yet is the fact many young people are very careful drivers; it is a small percentage of young drivers that contribute to the statistics. The ones that think they are invincible and the ones that act irrationally unfortunately push insurance prices up for the good drivers as well. Young drivers have to pay somewhere between 25 and 50 percent more for insurance than the older more experienced drivers. Unless these young drivers have a steady income it is hard for them to pay these insurance rates.

Tips for lowering Insurance rates

Even though young drivers will never have the same insurance rates as their parents there are things that they can do to get a lower rate. These include:

• Giving up the sports or high performance car- the kind of car that you are going to be driving is one of the most important deciding factors for the insurance company. If your car is expensive and fast you are going to be paying much more than most adults can afford. Choose a small car that has a small engine, and a second hand car will often be even cheaper.

• If your car is quite old then you may not need full comprehensive coverage. Your first car probably won’t be worth a lot of money so there is often no sense in spending extra insuring it when it would be cheaper to buy a new one than repair it following an accident.

• Shop around for insurance – do not settle for the first quote you get as some insurance companies will tell young drivers that their price is the best they are going to get. Do your research and haggle a bit on the phone if necessary.

Above are the things and the advice that should help you, the young driver out the most. After you find the company and you are insured it is important that you are never caught speeding. Every ticket that you receive will raise your insurance rates and could get your licence suspended until you resit another test. You want your insurance company to see you as a responsible young adult. If you prove this to them it will be easier for them to lower your rate the following year and reward you for your good driving.