Henry Ford’s ‘Tin Lizzie’ never needed an insurance coverage, but today’s mechanical monsters that are capable of shooting up from 0 to 100 mph in 3 to 4 seconds, and those that are driven by people below the age of 25, obviously attracts the wrong eye.
Car insurance companies suffer from distaste for young male drivers who were born 25 or a few years ago. Females in the same age group are however treated better. This boils down to the fact that, under 25 car insurance is a top dollar affair in Uncle Sam’s own country.
Nevertheless, there are reasons behind the high rate that is charged by the insurance companies. In fact, the reality is, they cannot be blamed for this altogether. Statistics have proved that most accidents are caused by young drivers who are aged between 20 and 25, and most of them are males. Naturally, the insurance companies have to fork out large sums of money as compensation, and they will thus want to protect their own interests and that of their investors. The bottom-line is, if you are less than 25 years of age, you should be driving more carefully.
Ways to Reduce the Premium
However the good news is, you can still reduce the premium in certain ways. There are indeed a few proven methods that can help you here.
One of them is to take an advanced lesson in safe driving. In some cases, the insurance companies specify the type of lessons that would qualify a young driver for an insurance premium discount. These mostly relate to defensive driving. It will further help if the young driver is a student with good grades. When the academic records of an applicant is found good, the insurance companies take a lenient view about charging the premium. It is assumed that the good performance there will somehow be reflected on the road too.
The features installed in the proposed car to be driven, can also determine whether you will get a discount or not in your policy. A vehicle that is fitted with air bags, anti-lock brake and other safety devices would get you a discount.
There is also the option to have the under-25 driver get registered under his or her parent’s car insurance policy. For this however, the young person need to stay with his or her parent or parents, and the car he or she is driving, needs to be registered under the father or mother’s name.