The Influence of Age and Gender on Car Insurance Premiums

The costs for car insurance may be influenced by factors such as age, driving experience and claims history. It should also come as no surprise that youthful drivers pay the highest rates. Age correlates with driving experience and the likelihood of causing a car accident.

CLAIM HISTORY

Past claims history plays a significant role when rating are determined in Motor Insurance.

It goes without saying that a person that has a significant number of vehicle accidents pose a greater risk when it comes to vehicle insurance than a person that has never had an accident.

This speaks to driver behaviour and also driver awareness on the road. It is therefore quite important to drive carefully and it does not only protect your physical well being but also your bank balance.

RISKY YOUNG DRIVERS UNDER THE AGE OF 23 PAY HIGHER RATES

Statistics reveal that the majority of motor vehicle accident involve less experience drivers. Couple the inexperience with the reckless abandon that comes with being young and one can see why this is the case.

Drivers under the age of 23 are more likely to get into severe car accidents due to their lack of experience and reckless conduct. Drivers under the age of 23 are nearly three times as likely as drivers over the age of 30 to cause a motor accident.

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