FREE Auto Insurance Comparison
Secured with SHA-256 Encryption
Compare quotes from the top auto insurance companies and save!
Young drivers enjoy an untarnished view of the world and when the day comes to get a drivers license almost nothing compares to this feeling of independence. However when its time to start shopping for car insurance the first reality check of financial responsibility sets in. Car insurance for young drivers is not cheap. Even those young drivers who graduated top of their defensive driving course do not qualify for any extra special honorariums when it comes to auto insurance.
Why is car insurance for young drivers expensive?
Risk – its all about risk for insurance companies and young drivers pose a much higher risk in any country. According to the Insurance Institute for Highway Safety teenage drivers pose a substantially higher risk than older drivers with statistics showing such data as:
- Drivers aged between 16 and 19 pose a risk of getting in accident 4 times higher than older drivers
- 16 year old drivers pose a risk 2 times higher than drivers aged 18 and 19 years old
- Motor vehicles accidents were the leading cause of death for people aged between 13-19 years old (2007)
While graduated driver licensing systems have helped improve statistics over the years young drivers still pose a much higher risk of filing a claim than older, more experienced drivers. Some other interesting statistics for motor vehicle accidents involving young drivers easily identify that accidents are very common in times that school is out. In 2009 for example:
- 55% of motor vehicle deaths among teenagers occurred on Friday, Saturday, or Sunday
- The highest number of teenage motor vehicle deaths occurred in the summer months June and August
- The most frequent time of day for motor vehicle deaths of teenagers occurred between 6 pm and 3 am
Allstate published a report in 2010 called “Shifting Teen Attitudes: The State of Teen Driving 2009″ which re-confirmed some of the major concerns of insuring young drivers including:
- 56% of young drivers responded they did use a cell phone to make and receive calls while operating a vehicle although almost 1/3 of the same drivers classified this activity as extremely or very distracting
- 67% of young drivers feel safe being a passenger but only 45% stated they would actually say something about it
- 40% of young drivers said that they expect to speed beyond posted limits in the next year
What is noteworthy about the Allstate report is that 89% of teenage drivers noted that their parents are very influential in encouraging safe driving although it doesn’t seem like the message is getting through to many young drivers.
How much is car insurance for young drivers?
So by now you should get the point that operating a vehicle is a serious responsibility and as a young driver you simply have a higher risk profile than more experienced drivers to any car insurance company. From social pressure to typical teenage egos to lack of experience there are many reasons why young drivers as a group pose such high risk. Eventually you will become a preferred driver and take advantage of lower premiums but today you need to focus on finding affordable car insurance and there are many things you can do. Car insurance comparison is your best way to find affordable auto insurance but you also need to buckle up and learn about auto insurance. What type of coverage you have will determine your financial responsibility in the event of an accident and purchasing the wrong type of insurance can burden you with large personal liability and legal woes. Every teenage driver should take the following steps before buying car insurance.
Learn about Coverage
Understand the types of car insurance such as liability, collision and comprehensive. One of these types provides NO coverage to damages to your own vehicle – do you know which one?
Understand Car Insurance Discounts
Young drivers can earn discounts by keeping good grades, completing a defensive driving course and more. Always learn what auto insurance discounts are available and even ask your school about any relationships they have with insurance companies – your student union is a good place to start.
Speak with your Parents
Ask your parents about car insurance – some young drivers may be surprised how little their parents even know and you can both read up on coverage. This can prove you are growing up and maybe even spark a twinkle in your parents eyes.
Take a Defensive Driving Course
While you may not always get a discount from a defensive driving course you should always take one. Even mature drivers do not know everything about driving and for the safety of everyone its a good idea to learn from experts.
Hold off on buying a vehicle
Getting added as an additional driver to your parent’s car is much cheaper than obtaining your own insurance policy. Although certainly not as cool it can save you lots of money and that is cool!
Never buy a new car
If your budget allows you to buy a new car get ready for high car insurance premiums. What you can do to lower the pain is buy a used or certified used car. You will not only save money on the vehicle and have an asset worth a lot more to the purchase price but auto insurance for older cars is always lower than brand new models.
Affordable car insurance is very possible as a young driver but its important to choose a policy that provides all the protection you need. Auto insurance is not just mandatory by law but also a critical tool of financial protection for you, your passengers and your family.
Compare Auto Insurance Quotes