Car Insurance for Teenagers
Bring the Costs Down
Car insurance for teenagers is more difficult to obtain at an affordable rate, so if you are looking for one, make sure you know what to do. A lot of families do the usual thing: simply add teenagers to the family’s existing car insurance policy.But hold on a minute; teenage drivers pose different risks, and car insurance companies are aware of that fact. Thus, they can take advantage of that to hike up the price of your insurance premiums more than slightly.
Why the Price Hike?
It seems that there is a price hike when it comes to car insurance for teenagers, and this can be attributed to the fact that teenagers are considered as risky drivers. Check any car accident statistics in any area and you will easily see the reason why. Teenagers account for a large percentage of car accidents, and a lot of fatal car crashes involve young people between the ages 16 and 20.Probability studies also show that teenagers are four times more likely to get involved in motor vehicle accidents than drivers in other age groups. Aside from current statistics, teenage drivers also lack the experience in driving, which raises the risks even more. And since car insurance rates depend on the risks, car insurance for teenagers can be quite expensive.
The Frightening Numbers
Recent statistics attest to this, as it shows that every year, more than 5,000 teenagers die in car crashes. An even larger number, recorded at around 400,000, get physically and sometimes fatally injured.In costs, teenagers are said to cause about 30% of the total cost of car accidents that occur in the United States. This is equal to about $26 billion dollars in all. And alarmingly, although the teenage population makes up only 10 percent of the total population of the United States, they account for 12 percent of the total number of fatal car crashes. Please visit this website