Insurance For Young Drivers Does Not Have To Be Expensive

It is often said the car insurance for a young driver can cost far more than the car the young person wants to drive

. This sounds ridiculous but it can be true. It is fair to say that some insurance companies are just not interested in insuring young people and their prices reflect this. The reasons are fairly straightforward. The statistics show that young people are a far higher risk than more experienced drivers to the chances of the insurance companies having to pay out on claims is that much greater. They are in business to make money not lose it, so they have to charge young people much more to ensure they still make a profit after paying out on all those extra claims.

This basic principle in unlikely to change and any insurer who offered the same rate for young drivers as for older ones would not be in business long, because the fact show very clearly that young people do have, and cause, far more road accidents. That does not mean that there are not other ways you can bring down the cost though.

The worst possible combination for insurance purposes is a young driver and a powerful car. Evidence shows that the chances of an accident are very high, and that the costs involved in claims are also high. You therefore have no chance of reasonable insurance if you set your sights too high in terms of fancy cars.

The things that push insurance costs up are the size of the engine, the cost and value of the car, the age of the car and the insurance group that the car belongs to. You can bring down your premium costs with a reasonable insurance company by choosing the car that the young driver will have very carefully. You should go for an older, smaller vehicle, which is preferably from one of the lowest insurance groups. This may not be attractive to the young person who wants to look good in a sporty car, but it will at least allow them to be able to drive, which might not be possible with a more expensive vehicle.

The other factor that can affect how much you pay, is of course the type and extent of insurance cover that you ask for. You do not have to do fully comprehensive and you can make a big difference to the cost of premiums if you just stick with third party insurance. By combining these various factors you should be able to bring down the cost of young drivers insurance enough to at least get behind the wheel. Once you have established a record as a safe driver, you can then start to go for slightly more impressive cars.

Insurance For Young Drivers Does Not Have To Be Expensive

By: K D Garrow

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