If you’re a young driver between the ages of 16 and 24, looking to insure your first car, you probably already know that you face some of the highest car insurance premiums around. Insurers base the price of premiums on lots of different factors:
- The car you’re insuring – Its age, engine size, value and more
- Information about you – Your age, where you live, how long you’ve been driving, whether you have any driving convictions, number of years no-claims bonus you have, number of claims you’ve made and more
- The type of cover you’re looking for – Whether that’s comprehensive, third-party, or a black box policy
Because this information alone isn’t enough to base a quote on, insurers also have to use statistical data from all of its customers to determine the level of risk.
The industry statistics show higher accident levels amongst teenage and young drivers between the ages of 16 and 24 which therefore means they’re a higher risk to insure.
Five facts about accidents involving young drivers
- One in five drivers has an accident in the first year of driving
- 26 % of road accidents involve at least one young car driver aged 16 to 24
- 79 teenage drivers were killed on the roads in 2009, another 770 were seriously injured and 9,500 slightly injured
- A higher proportion of young driver accidents occur on Friday and Saturday nights
- 57% of reported accidents involving young car drivers occur in urban areas
Being aware of the risks that come with being an inexperienced driver can help you to think about how you can drive safely and avoid incidents which may involve an insurance claim.
SAVE 10% upfront on Insurance for Young Drivers at Acumen Insurance
We’re all about encouraging safe driving, and with good reason – young drivers have more accidents. This is what makes insurance for young drivers more expensive. So if we can help our community of young drivers stay safe on the road, we can reward them with savings on their auto insurance with Ingenie. We’ll send you an Ingenie Smartbox for you to install in your vehicle – it’s quick and easy. The Smartbox sends us information on how you’re driving, so we can treat you as an individual and reward you for driving well. The Ingenie Smartbox you install in your vehicle records speed, acceleration, braking and cornering. We also collect data on your vehicle’s GPS location. Using the Ingenie Smartbox, we build up a picture of your driving style – including your speed, acceleration, braking and cornering. We review your billing 3 times a year based on how you’ve driven – so if you drive well, you’ll pay up to 25% less. Call and speak to a insurance broker in our personal lines department at (905) 574-7000 or email us at firstname.lastname@example.org