Your Baby is All Grown Up and Ready to Conquer the Road Ahead; Insure Their Safe Travels.

The amount one pays for insurance depends on a number of factors; age is certainly not the only one. The cost of premiums will typically be more expensive for young drivers than they are for older, more experienced drivers.

The most common factors affecting car insurance costs for a 16 year-old young driver are:

  • The type/condition of vehicle purchases
  • Gender of driver
  • Safe driving record/experience

When shopping for policies for young drivers, consumers should become familiar with what their particular state requires.

New drivers are considered by the insurance companies to be a higher risk; it is very difficult to give a rough estimate about how much insurance will cost since it also depends on other factors, i.e. gender and residential location. However, one should expect to pay around $1000.00 every six months (this amount can vary greatly).

Unfortunately for teenage males, the cost of insurance tends to be greater than the cost of insurance for female teens. Most premiums are established by data compiled and analyzed by insurers; this determines the amount of risk that they will assume and charge accordingly.Tenn male driver

Male teenagers can expect to pay more, not only for being male, but also being inexperienced; studies show that less experienced drivers may have a harder time recognizing hazardous situations and more likely to underestimate dangerous ones.

Another reason young males may also pay higher premiums is that a recent study shows that they have accounted for 30% of the cost of injuries caused by motor vehicles annually. However, they can save money by shopping and comparing rates from competitors to determine which company will be more affordable for them.

In most cases, it can be much more economical to be included on a parent’s policy. A considerable amount of money can be saved while still getting the required coverage.

Contact Wolpert Insurance today to speak with an agent about insuring the new drivers in your family!

Published in: on March 8, 2011 at 10:17 am  Leave a Comment  
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