You’re a 17 year old male driver who’s celebrating one year on the road. You’ve managed to be as safe as you can be as a driver in that year. Now you may be wondering why, despite your best efforts, your premium is still very expensive. Find out the reasons below as well as ways you can decrease the blow that car insurance for young male drivers such as yourself can create for their parents’ budget.
Why Car Insurance for Young Male Drivers is Prohibitively Expensive
Numerous studies have shown that young male drivers under the age of 18 are one of the groups most likely to get into a serious car accident. Some studies put this figure as high as 85% more likely to be the cause of serious vehicular accidents. Some studies attribute these alarming statistics to stereotypically male behavior such as brashness and impatience. Whatever the reason for these figures, this means sky high premiums for young male drivers in their first few years on the road. However, there are things you can do to mitigate these extra costs.
Buying a Safer Car
I know, I know. You’ve had your eye on that sleek sports car ever since you were thirteen years old. But before you start to sharpen your negotiation skills to use on your parents, know that you driving an expensive sports car at the tender age of 17 can drive your insurance costs through the roof. One reason is that many insurance companies believe that these types of cars are more costly to maintain and repair. Some companies even believe that young men who have expensive cars may be more likely to be reckless drivers. Several reputable and independent organizations release a yearly list of the safest cars on the road. If you buy a car off this list, your insurance company may even give you a discount off your premium.
Getting Safety Features
Adding safety features such as immobilization devices, visible VINs (vehicle identification numbers) and sophisticated locks can be one avenue you can take to get some savings under your youthful belt. Many insurance companies will give you a discount if you add certain features to your vehicle. The reason these insurance companies are willing to give you savings in this area is because they want to encourage their young drivers to take care of their vehicles. Adding these features may be costly, but you can end up saving money in the long run.
Taking Advantage of No-Claims Discounts
A no-claims discount is a percentage taken off of your premium because of the absence of claims filed within a certain timeframe. As a 17 year old, you most likely won’t be eligible for the next couple of years. Most insurance companies don’t give out no-claims discounts to drivers under the age of 21. However, there are a few companies that will give these savings to 19 year old motorists who’ve been on the road for at least three years. If you’re interested, do a bit of online research to find companies who give out no-claims discounts to young drivers. Simply type in “no-claims discounts young male drivers” or something similar into any popular search engine.
Even though you’re a 17 year old driver who just happens to be male, it doesn’t mean that you have to be saddled with high premiums until you’re 25. Doing a bit of diligent research into car insurance for young male drivers can bring you substantial savings. I know, I know. You’re doing enough research in school to last you a lifetime. But unlike that paper on Shakespeare, this type of research can put cash in your pocket. You still have to do that report, though. Sorry.