Generally, student drivers will pay more for insurance because they don’t have as much road experience, which means the odds of them getting into an accident are higher. Premiums are expensive for new and student drivers because the risk involved with them being on the road are greater.
Most new drivers are young, especially males, tend to be prone to risky behavior, which increases their chances of getting into an accident. Furthermore, many have yet to master all the rules of the road needed to operate a vehicle safely.
How Much More Do Student Drivers Need To Pay?
The Ascent has some data they have collected over the years on auto insurance premiums throughout the US. According to the data, the national average for car insurance premiums is around $2700. In contrast, 18-year old drivers or those with not much road experience can expect to pay upwards of $5900. In other words, a new driver will pay up to $3300 more than any other typical driver on the road.
The problem is that many student drivers and those in their teens aren’t equipped to pay for expensive auto insurance. Many of them are still in school or are just starting to work. That puts the auto insurance they need to be on the road out of their reach.
We often advise that drivers buy more than just the bare minimum because they face a higher risk of a crash owing to less experience. Student drivers should also have collision coverage, which will pay for any losses to their vehicle if it is involved in a crash that is their fault.
Comprehensive coverage will pay for damages to the vehicle like those by hitting a deer or vehicle being damaged by hail. Since most young drivers can’t afford a new car if it is destroyed, they shouldn’t skip comprehensive coverage.
Can Young Drivers Save On Auto Insurance?
We often advise against young drivers skipping on car insurance but instead trying to find cheap insurance. You have a few other things that can be done to reduce premiums, like completing a driver’s education course, which will keep costs down via insurance discounts.
You will also want to do a bit of comparison shopping to ensure that you get the best rates, instead of just sticking with your parent’s insurer. Many times insurers will impose much higher premiums on inexperienced drivers than others, which makes affording car insurance impossible.
Finally – Choose The Right Coverage
Many people don’t think as much as they should about car insurance. You should choose a car insurance company that offers you the best deal, which may still be expensive as a student driver, but you’re still saving money.
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