It is a known fact that a young person's car insurance premium will usually be considerably higher than that of an older and more experienced driver. The fact is that young drivers have more accidents than older motorists and it is for this reason that the insurance companies regard them as risk.
When an insurance company regards you or your teenager as an insurance risk, they can either refuse to insure them altogether, or they can charge a ludicrously high premium on the insurance policy. Insurance companies are not in the business to make themselves and others feel good, their primary objective is to make some money.
If an insurance company has to pay out on a lot of accident claims, then this affects their overall profit and if the situation carries on then they could be out of business. Those insurance companies who don't provide car insurance for young people, say it is because they just cannot afford to take on that type of insurance risk.
Most young people want to learn to drive, and once they have passed their driving test and got a licence, they want to show off to their friends how well they can drive. Insurance companies know that teenagers like to look good in front of their friends, and in order to protect themselves, the premium for a young person's car insurance is likely to be a lot higher than other people's premiums.
Some insurance companies refuse to insure anyone under the age of eighteen, and if your son or daughter is this age then you may have to spend some time looking before you can get them a suitable insurance policy. You should be able to cut insurance premiums if you agree on a certain annual mileage for your teen with the insurance company.
Some auto insurance companies specialize in providing cheap car insurance to young people and to women. It is a good idea to take a look online when you are searching for an insurance policy for your son or daughter as there is plenty of choice and you are more likely to get a cheaper quote than you might if you only went to insurance company offices. You can only visit one insurer at a time, but online you can check out the prices offered by a good number of online vehicle insurance providers.
On the Internet you can get a variety of quotes for a young person's car insurance and then it should be easier to make up your mind whether or not to have it. Some of the best places to look for car insurance quotes are on the cost comparison websites as these will give you a list of insurers who do provide young persons' car insurance at an affordable rate.
Just because your teenager has learned to drive, does not mean to say that they will find it easy to get insurance. You should impress on your teenager that the less mileage they clock up in the first few years of their driving, the more receptive insurance companies may be to giving them reduced insurance premiums.
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