Why do young drivers get a tough deal when buying car insurance? It’s all down to risk of them making a claim and statistically they are more likely to have an accident when compared to other age groups.
Car insurance is an expensive business to run and your insurance premium is governed on many different factors such as what car you drive, the drivers driving history and experience, no claims bonus status and much more.
It would seem that young drivers do get a tough deal as they are the ones that tend to pay the highest premiums for their insurance. That’s because they are considered high risk of having an accident and making a claim to the insurance company. Also, because they are young and do not have much experience of driving a car, the likelihood is that they will have a crash or a bang in the first couple of years of driving. They tend to drive a lot faster as well than other drivers, probably because it is seen at first as a novelty.
Young men who are aged under twenty five are the ones who pay the highest priced premiums because they are even more risk than women under twenty five. They tend to buy high performance sports cars and race around with friends in the evening.
Younger drivers tend to go on their parents insurance policy to save money as having a policy on their own is fare to expensive and the young person would not be able to afford the insurance premium otherwise. Why not read the Endsleigh car insurance review and see if they can get you a cheaper premium.
You could increase the voluntary excess level on the policy to reduce the premium. But this can be dangerous because if you do need to make a claim, you will have to pay the excess amount to the insurance, as your contribution towards fixing your vehicle. Just make sure you can afford the excess, five hundred pounds is a lot of money to fork out.
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