Auto insurance quotes for teens
Insurance and risk
The actuaries collect all this information about accidents and look for patterns. If particular makes and models are most likely to be stolen, the premium rates go up. If some groups of drivers are particularly safe, they pay lower premiums. It should all work out fair with those representing the biggest risks paying the most, and those with the lowest claim records being rewarded with the lowest premiums.
Who is most likely to have an accident?
The accident statistics do not lie. The drivers with the least experience are most likely to have an accident. Since most people learn to drive as teens, this means teens have the highest accident record. In fact, drivers are rated “high risk” up to the age of 25. The only other group coming close to the teens are those aged over 75. Their failing eyesight and poor physical reflexes make them dangerous to themselves and others on the road (but not as dangerous as the teens because they drive more slowly).
Are all teens treated the same?
No, there is one major difference and then many little differences. The first is based on sex. Young men have the highest accident rate of all. They drive more quickly and with less regard for the driving laws. Young women drive more carefully and follow the law. So young female teens pay less than their male classmates. That said, once any driver sits behind the wheel of a vehicle, they begin to build a record. If a teen drives short distances in a rural setting, never picks up a ticket and never has an accident, he or she will earn a lower premium. This premium will also drop if the teen has a good GPA and attends an approved course for driving. Going on to college and university also earns discounts. The more responsible the teen is as a person, the lower his or her premium will be. If the young men want to enjoy these benefits, they must drive like the young women. But if the teens live and do most of their driving in a city, particularly one with a ZIP code known to have a poor accident record, the premiums will always be higher.
The first thing to decide is whether the teen is going to hide on the parents’ policy or go for coverage in his or her own right. It’s actually better to get independent coverage as early as possible because the longer without a claim, the better the premium rate will be over the decades. If the teen hides and only gets a separate policy later, no benefit from the years of no claim is carried over to the new policy. It’s a new policy for a driver with no track record. Then check out all the potential discounts available for going though an approved driving course, etc. After that, drive carefully and earn lower premiums by not having an accident.
|
