There is no way around it; teenagers are expensive little creatures to have living in your home. From their activities to clothing them and everything else in between, they cost a lot of money. Paying for auto insurance when they start driving is no exception to that rule either. It definitely costs more to insure your teen drivers. Some parents might be wondering why this is the case. Signet Insurance Group is here to talk about the several factors that leave you paying more for auto insurance when you have a teenage driver.
Why is Insurance Higher for People Under 25?
There are many different reasons that you will find yourself paying more to insure your young drivers. Some of them are obvious, while others may not be.
– Auto Accidents: We have all been there. A nervous and not-so-confident teenage driver. When you are first learning how to driver, you are going to be more prone to getting in an accident. In fact, teens and young adults have the second highest fatality rate when compared to all drivers on the road. This means that insurance companies are taking a risk by insuring them, and you will pay more for that risk.
– Driving Inexperience: When you look at the other drivers on your policy, they more than likely have years of experience. An insurance company can look at them and see that they have proven they are a good driver over the years that they have been driving. Teenage drivers don’t have the luxury of a proven record like that. This means that the insurance company has to take your word for it. When you have a proven record to back up your driving, you don’t have to pay as much for auto insurance.
– Distractions when Driving: There are many studies that show that teenage drivers are going to be more distracted than drivers with more experience. Sometimes, they may be distracted by the friends that in their car with them. Other times, they may be distracted by the endless texts and calls they get on their phones. These distractions make teenagers less trustworthy behind the wheel for insurance companies.
– Recklessness: Some teenagers are going to be reckless when they are driving when compared to older and more experienced drivers. Whether it is racing their friends or trying to impress their date, teenagers have proven to be more reckless which can play into the high cost to insure them as well.
Home, Business & Auto Insurance Agency in Henderson, North LV, Reno, Spring Valley, Enterprise, Sunrise Manor, Paradise & Las Vegas, NV
When it comes to adding teenage drivers to your auto insurance policy, there is no way around the higher cost. However, some insurance companies will offer some discounts for things like good grades, defensive driver courses and things of that nature. At Signet Insurance Group, we will make sure you’re getting the best deal possible for your auto insurance. Call us today!
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