Author: Eric Penning
Source: ezinearticles.com

Car insurance for young drivers especially young males in their teens is getting more expensive each year. You can’t help but feel some sympathy for them, it’s bad enough them having to scrimp and save for their first second hand car only to find that the cost of insurance is extortionate. Most young drivers expect their first years premiums to be quite expensive, but it comes as a shock when the cost might be twice what they paid for their second hand motor.

So why are insurers taking such a hard line with young male drivers but not with the young female drivers. Generally speaking insurance cover is costlier for drivers who are still in their teens than in any other age group. But when comparing teenage boys against teenage girls, female drivers can save up to forty percent (40%) on their insurance for identical cover.

One look at the accident statistics explains why insurers take this approach. Figures reveal that one in every five young male drivers will be involved in a serious car accident in their first year of driving after passing their test. As a result of these statistics a 17 year old males could end up paying as much as 14 times more in insurance premiums than a 35 year old males for the same vehicle.

Young male drivers also tend to buy more powerful ‘performance type’ cars than they used to, this contributes to a higher accident rate, costlier vehicle repairs and therefore higher premiums. The statistics show that on average when it comes to claims, young female drivers under the age of 21 years will claim forty percent (40%)less than a young male driver.

The amount that can be saved on insurance is to some extent proportionate to the age of the driver. Car insurance for young drivers over the age of 25 years can be as much as 9 times less than what a male teenage driver has to pay.

So how can young drivers and in particularly male drivers make substantial savings on their policy. The obvious but sensible approach is to buy a small engine motor in the lower insurance group especially after having just passed the driving test. Performance cars are not only costlier to run in terms of fuel consumption and in future maintenance costs but the insurance premiums will rocket through the ceiling as well.

Comparing as many quotations online is the most obvious place to start. Even though the motor insurance industry is a highly competitive market you’d be surprised by how much quotes can differ. A little internet legwork could result in substantial savings.

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