To the south Africa’s insurance companies have a very similar policy as many insurance companies all around the world in relation to car insurance for under 25 year olds. It is an idea that under 25 year olds pays more for both their own monthly insurance premiums as well as their excess. This is because they are considered to be a much higher possibility than those insured who’re older than 25 years of age.
One of the main reasons why car insurance for under 25 year old drivers are much more expensive is because they have got less driving experience when compared with older drivers. Insurance companies believe that the possibilities of someone younger than 20 years old being involved in an automobile accident and claiming from your insurance company is better than that of someone who’s going to be older than 25 yoa.
Statistics have thus far proved insurance carriers correct. About 45% of the particular fatalities on South Cameras roads that occur between 11: 00PM and 06: 00AM are caused simply by young drivers. Young drivers are extra likely to drive recklessly and they are fourteen times more probably than older drivers to have an accident over weekends.
Some Factors That Should be thought about
If you are an automobile owner and driver under the age of 25 years old then there are many things that you may do to lower your risk profile and receive a better rate on your insurance. The type of car that you just drive will also impact your rates. Try to stay clear of modified or sports vehicles. The risk associated with these kinds of cars is very high plus they would push your month-to-month premiums and excess payable way up.
You could also consider taking an advanced driving course. This would bring ones risk profile down and may even result in your insurance provider reducing your monthly rates or excess. Also, you would feel a good deal safer on the roads because you would be better equipped to cope with stressful driving situations as a result of training
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