Handyman Insurance – Why Auto Insurance for 16-Year-Olds is Costly
Unfortunately, sixteen-year-old drivers have minimal experience behind the wheel; therefore, car insurance costs are usually quite exorbitant compared to older motorists. Although it may seem to be unfair to base rates simply on age alone, the fact of the matter is that these young motorists are statistically more at risk of being involved in a traffic accident than any other age group, for that matter. Rates are calculated by insurers based on risks; whether it is the driver or the automobile, statistics are taken into consideration when insurers develop premiums, and unfortunately, a newly licensed motorist is the riskiest to insure.
The main factor that makes car insurance for 16-year-olds is the statistics showing the high likelihood of them being involved in a collision. It is a well-known fact that traffic accidents are the number one cause of death for teenagers, but a driver under 17 is highly likely to be involved in a collision. Studies indicate that a motorist in their teens is four times more likely to be involved in a traffic accident but that a sixteen-year-old is three times more likely than a driver between seventeen and nineteen. For this reason, insurers feel it is necessary to charge this inexperienced driver more for automobile coverage; the chance of paying for a loss is much higher than in any other age group.