Insurance For Young Drivers – Factors That Affect Costs

2007-03-08 10:33:40

( Legal )



When parents purchase car insurance young drivers in the family constitute the biggest cost factor. If you are between sixteen to twenty-five years old, insurance companies will classify you in the young drivers’ category.

Drivers in your category actually pay higher insurance premium rates than those who belong to other age brackets. Insurance for young drivers are expensive because young drivers are more prone to car accidents than experienced adult drivers.

Car insurance for young drivers depends on your marital status, driver training and good academic grades. Insurance companies use these factors to determine how much premium you need to pay.

Credit for Marital Status

Generally, single young drivers below twenty-five pay the highest premiums; married young drivers actually pay less. Insurance companies consider you a responsible driver if you are married. The reason is actuarial tables demonstrate that married individuals are less likely to figure in car accidents than single young drivers.

Driver Training Credit

States motor vehicle departments require young drivers like you to undergo driver’s training course before issuance of your driver’s license. This course helps you develop your motor skills and physical reaction time to various driving situations.

Completion of a driver education course has been reported to reduce car crash incidents among young drivers. Insurance companies take notice of this and give discounts to rates on insurance for young drivers who successfully complete the course with a certified driving instructor.

Credit for Good Academic Grades

If you are a high school or college student and you have at least a B average grade, you will get discounts. Insurers figure that good grades mean you spend more time studying rather than driving, thus you have less probability of getting into accidents.

These are ways to lower cost of insurance for young drivers. All you have to do is shop around and get credit where it is due to you.


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