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Why Does Car Insurance Cost More For A Young Person?

Bright Young Things

Trying to second guess what your insurance is going to cost you is a nightmare. Despite all the insurance groupings, one thing you do know is it will cost a lot more for a young person than somebody of more advanced years. Why?

Young spells trouble

The young are always blamed and getting into trouble. The term “boy racer” isn’t always an accurate description of young men behind the wheel, but quite often it is, as they do so often seem to associate their cars with their manhood. And they like to show off!

Using a car to show one’s prowess at driving would be perfectly acceptable if most of those who did it actually knew how to control a car. The young grow up these days on a diet of computer games that show them how to ram cars into everything on a street. That doesn’t help out in the real world.

When those game players sit behind the wheel of a real vehicle we can’t blame them for thinking it’s going to be pretty similar to controlling their electronic cyber space ones. We’re not saying they are going to crash deliberately into everything that moves, but quite often those young testosterone filled minds do play tricks on them and they end up wrapping their vehicles around a lamp-post or a tree; hopefully not losing their lives in the process.

That’s why young people are a high risk; they have a recorded history of crashing. That makes them expensive to insure simply because they are expensive for an insurance company to have on the books.

Groupies

Of course, sometimes young people who complain about how expensive their insurance is only have themselves to blame because of their choice of vehicle.

All vehicles are separated out into different insurance groups, rated between one and twenty. They each attract a different insurance value: group one will be the cheapest and group twenty the most expensive.

These groups are based not only on the performance and cost of the car, but on the cost and availability of spare parts, security features, and repair times, or how complicated the layout of the engine is. Unfortunately, anybody under twenty five who owns a car with a high insurance group rating will have heavy premiums to pay.

Group 1 vehicles include: Fiat pandas, Citroen 2CVs, Vauxhall Corsas and Seat Marbellas.

Group 20 vehicles include: Aston Martins, Porche 911’s, Audi TT’s, Ferraris, and the BMW M series.

Time will tell

In the last ten years car insurance premiums have almost doubled. Fortunately this has led to more drivers under 21 not driving. There are now the same number of those aged 21 and under on the roads in Britain as there were in 1975. We say “fortunately” because we would rather see people off the roads unable to pay than be on the roads with no insurance, which is the other option for them.

How can I cut the cost?

The average cost for an annual premium for an under 21 year old is £1,026! That could easily be more than their cost of their car. There are some easy ways to help reduce the cost of your car insurance premiums. One way is to take “Pass Plus”, a series of lessons that can be taken after passing the standard driving test. These are designed to heighten a driver’s road awareness and can reduce insurance premiums by up to a third.

Don’t ever modify your car in any way. If you like to tinker save yourself more money and do your own servicing. If you only do a very low mileage tell your insurer, you can get up to 15% off your premiums. Above all, don’t be tempted to buy a high performance car if you are below thirty!

We know which insurance Group we would prefer to drive, but boy, do you need deep pockets, no matter what age you are!


Posted on: [ November 03, 2017 ]       Add to Del.icio.us   Digg it   Add to Blinklist   Add to FUrl   StumbleUpon