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Despite the sometimes prohibitively high cost of insuring a car as a 17 year old it is absolutely necessary and driving an uninsured vehicle can lead to penalty fines and even prosecution.
Why is car insurance so expensive for 17 years old. The reason why car insurance for a 17-year-old is so expensive is that newer drivers are more apt to get into accidents. Finding cost-effective insurance for a. Newly licensed drivers are expensive to insure.
Young drivers are statistically more likely to be involved in a serious road accident. It should come as little surprise then that car insurance. Ad Extensive Motor Insurance Policy.
Older drivers are statistically less likely to speed text while driving or experience road rage making them a safer financial risk for an insurance company. Car insurance for a 18-year-old driver is nearly 5190 on average for a year of full coverage on their own policy. In 2018 47 of reported road accidents in the UK involving drivers aged 17 to 19 resulted in casualties and 46 involving drivers aged 20 to 24.
Drivers in the 17 – 25 age range are the ones most likely to make a claim on their car insurance. Ad Search Insurance Auto Insurance. As a whole teenagers can be riskier to insure than other groups.
The National Highway Traffic Safety Administration NHTSA says Teen drivers have a higher rate of fatal crashes mainly because of their immaturity lack of. Therefore drivers in the. We crunch the numbers Driving a hard bargain.
Why car insurance for teenagers is so expensive. Teen drivers get into fewer fatal accidents than when their parents were teens. Technology can come to the rescue of 17 year old drivers in the form of black-box insurance.
Statistically speaking 17-year-olds are more likely to engage in dangerous driving practices leading insurance companies to see insuring a 17-year-old driver as a risky investment. Thats more than 3430 over the national average 1758 for drivers age 30. Female car insurance rates can differ by as much as 292month.
Thus since your insurer thinks youre more likely to crash when youre young your rates will be expensive. Drivers aged 16 to 19 are three times more likely to be in a car accident. Ad Extensive Motor Insurance Policy.
They are inexperienced naturally and have a high rate of accidents. Why is car insurance more expensive for young drivers. The report looked at comprehensive insurance prices and found that 17-year-olds paid an average of 1249.
Therefore they cost the insurance companies the most money in payouts. Insurers are reassured by the presence on the policy of an older more experienced motorist and it will probably result in cheaper car insurance for a 17 year old driver. In 2015 drivers between the ages of 15 and 20 accounted for 10 of all fatal accidents despite only accounting for 7 of all licensed drivers.
17-year-old driver will be among the least experienced on the road so statistically they are more likely to be involved in an accident. Our latest car insurance price index shows that 17-year-olds are still paying some of the highest prices in their age group. Adding a 17-year-old to your main policy can be pricey so pay-per-hour could be a better solution.
This makes sense when you consider that recklessness and a likelihood to participate in distracting behavior are a big part of how insurance rates are determined for 16 and 17-year-old drivers. Car insurance companies protect their interests from this risk through higher premiums resulting in higher costs for the consumer. Get Free Quotation Buy Online Now.
The cost of car insurance is higher for teenage boys than teenage girls because they are more likely to have an accident. Get Results from 6 Engines at Once. New regulations introduced by the DVLA and its associates mean that the government are cracking down more than ever on uninsured drivers so it is imperative that you get some kind of cover.
Accidents lead to claims which means costs to insurance companies. Ad Search Insurance Auto Insurance. The cost of car insurance for 17-year-olds can be expensive which is why its more important than ever to shop around to find a good deal on insurance.
Written by Zaneta Wood.