Here is an excerpt from a new blog post at GreggMarcus.com:
Insuring
a teen or young adult is obviously extremely expensive. Depending upon
the age of the drive, the make and model of the vehicle, and the
applicable state restrictions enforced by the law, adding a young or
teen driver can increase insurance rates by 100 percent or more. It is
surprising that so many parents are even willing to license their teens
with insurance premiums being affected so greatly and increasing
uncontrollably. In this post, Long Island Insurance Executive, Gregg S.
Marcus will explain what you need to know about insuring a young driver
and what you can do to prevent your rates from rising immensely.
The
high cost of insurance for a young driver is due to the one simple fact
that teen drivers and younger adults pose a much higher risk of loss
for the company. Premiums for any type of insurance be it life, health
or automobile, are always based off of risk. Studies have proven that
for younger inexperienced drivers, risks are four times as high as any
other type of driver. The cost of claims from teenage drivers involved
in accidents is also proven to be higher than those of adult drivers.
To read this post in it’s entirety, click here to visit the Gregg Marcus official website.
