Driving a car can be very fascinating especially for those who just had their very first ride. However a car must come hand and hand with auto insurance policy unless you decided not to drive but just to stare at your car forever.
By now we might all be aware that car insurance premiums are costly moreover there are a lot of considerations and factors that can influence this rate. your driving record, credit history, your continuous coverage, location, car’s model, its mileage, the safety features absence or presence, your occupation, marital status, whether you are a male or female, where you park your car and a lot more can all influence your car insurance premium rate largely or slightly.
Another factor that car insurance companies take into account is your age. The lucky number that you might want to take note is 25. Well that is the age that will give you freedom from the being labeled as risky driver due to age.
Car insurance companies are working around the principle of risk assessment. The more your profile shows that you are more of a risk to the company chances are you’ll get a skyrocket high insurance policies or worse denial of your policy application.
Unfortunately there are circumstances where one is automatically considered as risky. Being young generally posts risk for car insurance policy providers. More risk means higher cost of policy thus for student drivers it is expected that their rate will be more than of that of people aged 25 and above.
Based on statistics, young people have higher tendency to be involved in car accidents than adult people. Therefore young drivers are more likely to file car insurance claims. This is just the perfect scenario car insurance providers are avoiding as much as possible. Young drivers however, as according to studies, can bring their providers to face what they are trying to run away from. The risk therefore is serious thus student drivers should pay more.
What can students do about this? Being students they rely more on their parents for financial support for they cannot yet provide for their own expenses unless they are into some part time job.
The thing is young drivers need to just add one more word to their label as students that is “responsible.“ you do not have to be Einstein genius just to be qualified for a discount from your insurance company. Aim for good grades, generally 3.0 and higher GPA will make you eligible for some discounts from your provider.
