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Insuring a teen driver is expensive. Teen drivers are involved in more fatal or serious injury collisions that any other age group, and this drives up the expense of insuring them. However, there are ways to lower the costs of car insurance for young drivers.
The kind of car given to young drivers will have a direct impact on insurance costs. Most young drivers want a small, fast and sporty car. However, the combination of the three can create a substantial insurance premium. the faster the car, the higher the insurance premium will be. Also, sports cars have a higher theft rate, which also makes them more expensive to insure. To lower insurance costs, young drivers should have a larger, older model car. Larger cars are heavier, and therefore prevent young drivers from speeding and driving recklessly. Also, an older car that is paid for will only need liability insurance instead of collision and comprehensive insurance. Finally, an older car will have a lower blue book value, therefore it will cost less to insure.