Young adults and teenagers between the ages of 16 to 24 seem to be the riskiest drivers. This can lead to higher costs for car insurance
. Many factors including age and driving record contribute to the cost of insurance
. Based on data from the Insurance Information Institute
(III), young drivers represent about 11% of all drivers. Although they have a fewer number of total crashes, young drivers make up 17% of drivers involved in fatal crashes. This is the highest percentage out of all age groups. If you are a young driver, how does the data affect your car insurance rates and what driving behaviors should you avoid?
Factors that increase the cost of car insurance
Car insurance costs for risky drivers are more expensive. As we can see from the data, teenagers and young adults have a higher risk of accidents. They are more inexperienced and not familiar with how to react to potential hazards.
A background on teenage drivers provided by the III
shows that drivers aged 16-24 have the highest rate of holding a cellphone to their ears while driving. Distracted and impaired driving are prevalent among teen drivers and increase the risk of fatal accidents. Because of these factors, adding someone under 25 to an insurance policy can dramatically increase an insurance premium. If you are a part of your parents’ policy, they could see an increase of 50 to 100%.
Ways to reduce your driving risk as a young driver
As a young driver, the lack of experience means you might not recognize or respond safely to dangerous situations. You might be inclined to speed which is the most common factor related to fatal crashes.
Taking a defensive driving course can teach you how to anticipate and react to unexpected events on the road. This can help you stay safe and save money. An insurance company will typically reduce your rate after you’ve successfully finished one of these courses.
The risk you carry as a driver is reflected in the cost of insurance. Since drivers aged 16-24 are more likely to be involved in accidents, this increases the price of car insurance.
Save money on car insurance with Jerry
Just because car insurance is typically more expensive for young drivers doesn’t mean you can’t shop around for different rates. If you are a student, you can look into getting discounts for being a good student and accident-free driver.
As a young driver, you’ll be subjected to higher insurance premiums even if you have a clean driving record and never engage in risky driving behaviors. However, you can still save money on car insurance by comparing rates.
Jerry
gives you an easy way to compare and shop for lower rates. The free app will cancel old policies for you and help you save by putting together the most affordable quotes.As a young adult or teen, you might be a busy student. Jerry gathers all the information you need to know and handles all the phone calls, paperwork, and renewals. The app will make sure you’re always getting the best price and save you the hassle of switching between policies.
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