Auto insurance companies calculate premiums largely based on the risk and potential loss that an applicant poses. Unfortunately for younger motorists, the rates for a driver between the age of 16 and 25 are usually quite a bit higher than more mature drivers. While this may seem unfair, studies and statistics show that those less experienced behind the wheel account for a high number of traffic accidents which leads to increased premiums.
If a motorist is under the age of 25 and especially in their teens then locating cheap insurance for young drivers is a must in order to have the ability to afford and maintain coverage. Unfortunately due to statistical data it can become a little difficult to find an affordable policy. According to a study conducted by the Kentucky Office of Highway Safety, it states that “In 2008 there were 26,660 total crashes involving drivers under 21 years of age. These crashes resulted in 8,966 injuries and 138 fatalities.“
Source: http://highwaysafety.ky.gov/files/tip_sheets/youngdrivers.pdf
Due to these staggering numbers, insurers must raise rates for youthful drivers to compensate for the losses that they have incurred from insuring this class of motorist. The best chance for these motorists to locate an affordable policy is to simply shop around and compare various companies; carriers who have not suffered significant losses with younger motorists may be able to offer cheaper premiums.
Websites such as OnlineAutoInsurance.com provide helpful tips to assist younger motorist in finding affordable coverage. By visiting http://www.onlineautoinsurance.com/teenagers/cheapest-car-insurance-young-drivers.htm one can obtain numerous quotes to compare from in order to locate a cheap policy.