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Your Questions About Cheap Car Insurance For 17 Year Olds

June 18, 2013

William asks…

What do you belive is the best insurance agency for teens?

I am a 16 year old who needs insurance. I plan on get a new car in a month which is my 17th birthday. The only problem is, I need to know what agent is the cheapest.

Administrator answers:

Most teens are simply added to their parents policy, that’s the cheapest way. I don’t think you can purchase insurance on your own. An insurance policy is a legal contract, and minors can not enter into contracts.

Also I would advise you not to buy a new car. Most teens, because of lack of driving experience, will wreck or seriously damage their first car. Just get something cheap, safe, and reliable for now. Let the new car wait until you graduate from college.

Ken asks…

I was driving back from the supermarket when a boy racer went past me at stupid mph?

I got to the next roundabout about 2 miles up the road and guess what was rapped around a lamppost. I had a little chuckle as I drove past.
My question is…Why do new 17/18 Year old drivers complain about costs they have to pay to insure there car. LETS FLIP THE COIN…Look at the risks these insurance companies are taking insuring these liability’s.

Administrator answers:

I am an underwriter for a well known UK insurer. Our sales team constantly get abuse when they give quotes to young drivers, as they are naive and think that we are making huge profits out of them. In reality, we make a loss out of insuring young drivers. Many insurers have stopped covering them, and the only reason we still do cover them is so that we can get the business of their more experienced parents as families tend to all go with the same insurer.

To quote you the facts, one in four drivers aged under 25 will make a claim within their first year of driving. The average cost of those claims is £4,400, so as you can see, using those maths for every policy taken out, we pay out over £1000 just in claims. We then have to pay tax, make a contribution to the Motor Insurance Database and the Association of British Insurers, and pay our operating costs. Where is the profit there? If they do make a claim, they expect us to provide legal advice which does not come cheap, then there’s the personal injury claims which costs thousands.

Personally, I blame the number of people who rush through their tests. They book these intensive courses so they can pass as quickly as possible, but when you pass within a few weeks, you are not getting the experience of driving in all weathers, and in all conditions. You are learning the bare minimum needed to pass, and when you do pass, and you encounter a situation that you haven’t trained on, how do you handle it?

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