Why do younger drivers pay more car insurance premium as compared to tenure drivers?


Driving is something that is a privilege offered to you depending on your economic condition. Sometimes, it is easy to take it for granted. However, once you lose out your driving rights, you will realize how valuable it actually is. People miss the things the most only when they don’t have access to it. Thus, before arriving at such a situation, it is better that you learn its value beforehand. Even when it comes to driving, try to be a good driver early on and you might not have anything to worry about.

For teen drivers, it is unfortunate that statistics are against them. The number of teen drivers involved in accidents is alarmingly high. There are a lot of deaths on the roads that are caused due to teen drivers and there needs to be a way to keep these on check. One solution that has been proposed is to increase the insurance rates. This serves as double advantage, since even insurance companies get more money for insuring such risky drivers. It can also instill some fear in the teen drivers so that they drive more sensibly on the road.

In contrast, older and mature drivers have been at the wheel from a longer time. Hence, it is impractical to have them pay more for their insurance rates. Consequently, they have the flexibility to pay depending on their driving style. A lot of parameters are considered when it comes to insuring such drivers and their premiums are decided only after all the factors are taken into consideration. Thus, statistical data cannot be the only thing that is going to be used when insuring such drivers. Even other aspects like their driving history and whether or not they have good credit ratings comes into play while deciding on the premium rates.

You need to remember that regardless of which group you might fall in, you need to be a good driver. This is the only foolproof way to ensure that you don’t unnecessarily pay more for being insured. Even if you are relatively young, insurance companies have a point system of rewarding their drivers. Thus, if you have constantly worried about things like age and credit score affecting your ratings, you should be happy to know that even your driving history has a say in how much you are going to be paying for your car insurance.