Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
Latest activity
Earn Money
Review Website/Apps
Passive Income
Money apps
Paid Survey
Stock
Forex
Real estate
Paid to write
Social Media Monetization
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Personal loan
Retirement
Debt help
Savings for Students
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Insurance Forums
Why New Drivers’ Insurance is so Expensive
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="LucasWilliam, post: 281651, member: 83313"] If someone has started driving recently, you can ask them how much their auto insurance costs. They’ll tell you how expensive it is because it’s true. New drivers’ insurance is generally more expensive compared to seasoned drivers who have experience. Let’s take a look at some reasons why new drivers are forced to pay more for their auto insurance packages. [HEADING=1]Higher Risk of Accidents[/HEADING] New or young drivers have a higher risk of getting into an accident. [U]As per a report[/U], one in five young drivers is expected to get into an accident within 6 months of them starting to drive. [U]Another report states[/U] one-quarter of new drivers will get into an accident within 2 years of starting to drive. An insurance company’s job is to calculate the risk and their profits depend upon these things. The higher the chances of a crash, the higher the prices of insurance are for new drivers. This doesn’t indicate that every young or new driver is a bad driver or will definitely get into an accident. However, past stats force insurance companies to minimize their risks by offering high prices. [IMG alt="A car overturned after an accident"]https://prontosanangelo.com/wp-content/uploads/2022/10/A-car-overturned-after-an-accident.png[/IMG] [HEADING=1]The Average Cost of Claim for New Drivers is Higher[/HEADING] Insurance companies aren’t greedy, and they don’t think every new driver will get into an accident. However, stats indicate claims filed by new drivers aren’t just higher in number but bigger in amount as well. [U]According to data[/U] obtained from insurance companies in the United Kingdom, the average cost of a claim of a new driver, or a young driver aged between 18 and 20, is £3667, equivalent to over 4088 US dollars. This is nearly £1500 more expensive than an average claim of an experienced driver, equivalent to £2181 or $2430.16. This indicates new drivers are likely to get into severe accidents due to inexperience, causing more repairable damage that the insurance companies have to pay for. Insurance companies charging higher makes sense business-wise. [HEADING=1]How to Lower New Driver Insurance Costs?[/HEADING] There’s no certain way to lower automobile insurance costs for a new driver. However, some companies do offer insurance packages that can help new drivers save up on their insurance costs. One such company is Pronto Insurance. We are known for our reasonably priced insurance packages and we’ve been serving in San Angelo for over a decade. We offer affordable automobile insurance packages for new drivers. Moreover, we also offer other insurance packages like motorcycle insurance, health insurance, homeowner’s insurance, and more. Get in touch with us now for more information. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Insurance Forums
Why New Drivers’ Insurance is so Expensive
Top