Why is car insurance for young drivers so expensive?
Car insurance rates are based on a number of factors such as the car you drive, your mileage, and statistically how likely you are to be involved in an accident. Insurance companies spend a huge amount of time analyzing data to reveal trends and patterns in accident statistics. Unfortunately the data clearly shows that, per mile driven, young drivers (16-19 year) are 3 times more likely to be involved in an accident than drivers aged between 65-69 years. For this reason insurers group all young people together in a ‘high-risk category’ and as a consequence charge them higher premiums. But fear not, as a young person, there are things you can do to help minimize the costs whilst maintaining the coverage you need.
