Getting car insurance at a very young age often proved to be expensive. The reason behind that is simple; the younger you are, the more risk you take and the chance of you getting into accidents will be on the higher side too. Overall, you are a high-risk driver for the insurance companies.
Lack of driving experience also plays a huge role in the expensive rates of insurance for teenagers.
Now, you’ll wonder why youngsters have to pay more for insurance.
Car insurance quote for 16 years old: why is it on the higher side?
Young drivers are reckless and drive with a risky approach and that puts them in the category of high-risk drivers. The insurance companies will charge you more in premiums and the quotes will be on the higher side for high-risk drivers and that’s the main reason why teenagers pay more for insurance than any other people.
Hence, your gender also plays a decisive role in deciding your insurance premium rate.
Car insurance for 16-year-old female Vs. Car insurance for a 16-year-old male
Driving habits change as per the gender and as per stats, the number of accidents initiated by teenage males is significant as compared to teenage women.
Other Stat shows that a 16-year old female will pay less than a 16-year old male because insurance companies see male drivers as being faster drivers and also being more risk-takers and aggressive on the road.
Boys tend to drive more than girls and this is also one of the reasons why a 16-year old male will pay more than his female counterpart. Besides, they often own a car deemed as “Sports” vehicles which are driven at high speed. Hence, the traffic violation tickets rise dramatically instigating higher premium rates.
Now, you know the reasons why a male teenager pays more than a female teenager. Need not worry as you can get these premium rates down with some tips.
How to reduce the rates of insurance policy for young drivers?
With age, your insurance rates will drop automatically as you will be an experienced driver but you can also reduce the rate of your insurance policy by following these steps:
Shop Around
Every insurance company will give you different benefits and liabilities and different rates for car insurance. The disparity is particularly high when it comes to teenagers and shopping around can help you save thousands of dollars throughout a six-month insurance policy.
Take advantage of various Discounts
Many insurance companies offer a variety of discounts specially designed for young drivers. They are:
- Good Grades: obtain a certain GPA and get yourself a discount on policy rates.
- Pay-in-full: pay for the entire plan in full and you can avail the discount for your car insurance.
- Driving Tracker: install a driving tracker and pay less due to your safe driving.
- Driving Class: take a driving test and pass with flying colors to reduce the rate of car insurance.
Buy a cheaper car
Before buying a car make sure you research well and count how much it costs to insure. Getting a car that is cheap to insure will help you to save money on your insurance policy. Buying fun and a fast car may be a tempting option but they are super expensive to insure.
Are you wondering how and where you can find cheap quotes for young drivers?
Well, need not worry; Alias Insurance can help you to find the best and the cheapest quotes for young and teenage drivers from the companies nearby you in no time. If you wish to obtain cheap rates for this type of insurance, simply meet an expert to get all the assistance you need.
