Young Drivers, Car Types and Costs of Insurance Premiums

Teens want the newest and the coolest cars.  It’s just their personalities.  And yet, according to Mail Online, the fact that newly-licensed drivers are in older vehicles might be a key to why they’re involved in more accidents than any other age group of drivers.

According to the Department of Transportation, drivers between the ages of 17- and 24-years-old are involved in about 20 percent of all traffic collisions.  The fatalities in accidents involving younger drivers account for well over 20 percent of all road deaths.

Our Boca Raton car accident lawyers know it’s critical to make sure that our newly-licensed drivers are prepared for their duties behind the wheel with a thorough driving education and knowledge of road expectations and regulations. But it’s also critical that they’re in a vehicle that’s going to serve and protect them.  According to a recent study from manufacturer Alfa Romeo and insurer Marmalade, close to 65 percent of people surveyed feel that it’s wrong for younger drivers to be charged higher insurance premiums because of their age – especially because about 75 percent of these young drivers claim they were forced to drive an older car (which as we know increases the risk of an accident, and/or injury in the event of a collision.

Insurers say that these premiums are largely a result of the cost of driver claims.  Accidents that involve older vehicles are oftentimes a lot costlier than the newer vehicles that have better safety features – mainly because newer vehicles produce fewer injuries and fatalities.

The average premium for female drivers between the ages of 17 and 20 is at an all-time high – running at more than $3,400.  That’s a more than 20 percent increase from the year before.  Males of the same age saw a reduction in their claims of more than 21 percent. But that’s a trend in the UK since the induction of the EU Gender ruling at the start of the year, which made it illegal to price according to sex.

Should the U.S. consider enacting these same rules?

Of the nearly 1,500 young drivers who were surveyed, almost all of them said that having a vehicle was an important factor in their freedom and/or independence.  About 70 percent of them even considered vehicle ownership to be a rite of passage.

On the other hand, about four out of five of the young drivers who were surveyed said that they relied on their parents to help purchase (financially) their first vehicle.

If you are in fact contributing to your teen’s first vehicle, we ask that you consider safety.  Help to teach your teen responsibility by not only asking them to contribute as well, but by making sure that they’ve got all of the safe driving tools necessary to prevent an accident.  Your educational efforts can wind up saving their life – and will be easier on the family budget in the process.

If you or someone you love has been injured in an auto accident, contact our lawyers at Hollander Law Firm for a free and confidential consultation.  Call (888) 751-7770 today!

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