Why is my car insurance so expensive?
I'm a 19-year-old that drives a 2010 Honda Accord. My rate is about $400 a month, which seems sky-high. Why is my insurance so expensive?
Your car insurance is more expensive simply because you’re perceived as a high-risk driver by insurance companies.
While things like location and driving history all factor into car insurance rates, your young age means you don’t have as much experience behind the wheel. Young drivers are statistically more likely to get into an accident compared to older drivers, making you a higher risk to insurance companies.
Don’t worry; the longer you drive, the lower your rates will be. Most drivers see a significant decrease in the cost of their premiums when they turn 25.
Waiting to turn 25 isn’t the only way to lower your rates. You might qualify for a good student discount now since you are a student. You can also use the free Jerry app to help you find the best rates possible. Jerry compares rates from the top 50 providers and delivers the best deals to your phone in minutes.
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