Under 25 Car Insurance For Male Drivers
If you're a male under 25, you have two strikes against you when looking for auto insurance- being young and being male. Young male drivers are deemed as being of higher risk than other categories of motorists on the road. This is because statistics show that young males are more likely to cause accidents due to speeding, drunk or distracted driving, and other moving violations. Young males (under 25) pay as much as $300 more in premiums than the average driver in the country.
But all is not so gloomy for this group of motorists. You can still find cheap car insurance if you shop around, look for discounts, and maintain a clean driving record.
Young males pay more in premiums than young women
Gender is one of the factors that insurance companies consider when calculating premiums. In general, men pay higher premiums than women. The same trend applies to young drivers under 25. Statistics show that young males under 25 are more likely to end up with bad driving records, previous violations, and being at fault for vehicle accidents. For example, men have twice as many speeding tickets and DUI convictions than women.
Insurance companies determine how much risk a driver is likely to cause while on the road. This data is then used to calculate your premiums and coverage limits. Young male drivers are viewed as riskier than young females, and thus, they end up paying higher premiums.
Males under 25 also incur higher insurance prices because they tend to drive more expensive cars than women of the same age group. Young males typically purchase sports cars, SUVs, and recent vehicle models that cost more to insure. A more expensive vehicle will cost more in premiums.
Age also matters
Age is another significant factor that determines auto insurance cost. Younger drivers pay up to 3 times as much as experienced drivers in their mid-thirties. Young male in their teens will pay the highest in premiums, owing to the level of risk that they may cause on the road.
These premiums typically drop once you're 25 and above. This is because older drivers (between 25-65) are deemed as more experienced and more sensible while on the road. They also have a longer driving record that insurance companies can use to evaluate risk.
And finally, there's the credit-based insurance score. Older drivers who have good credit and a clean record can save a lot in premiums. Younger drivers typically have limited credit history and driving experience.
How you can save on insurance as a male under 25
Males under 25 can still save on car insurance by looking in the right places. Some insurance companies offer lucrative discounts to this age group, while others design low-cost coverage options that increase accessibility to insurance.
Here are some useful tips to help you find cheap car insurance as a make under 25.
- Compare multiple policies
Always start by comparing multiple policies. Obtain quotes from at least 3-5 insurance companies and read through the fine print before making a decision. You'll find that some companies are friendlier to young male drivers than others.
For example, Geico offers the most competitive rates for males under 25, while State Farm provides the most lucrative discounts.
- Look for discounts
Speaking of discounts, look for auto insurers that offer competitive discounts that will help you save on premiums. There are many different options available- including good student discounts (if you have a GPA of 3.0 and above), military discounts (if you're a service member), and safe driver discounts (if you have a clean driving record).
You can also further save on costs by taking a defensive driving course. Such courses show that you've taken steps to reduce your likelihood of causing an accident. Defensive driving can also help you expunge a violation from your record (such as a speeding ticket or reckless driving citation).
- Keep your driving record clean
As a young male driver, having multiple violations on your record may cause your premiums to skyrocket. For example, a DUI conviction may result in a 2-3 times increase in premiums. Young males are also more likely to over speed, drive while distracted, and engage in reckless diving.
You can save significantly on auto insurance by maintaining a clean driving record. Avoid driving over the speed limit or getting behind the wheel while intoxicated. Also, remember always to wear your seatbelt and keep your cell phone away while driving.
- Buy a less expensive car
While it's exciting to cruise down the highway in a brand new sports car, an expensive vehicle may also burn a hole in your wallet. This is because you'll need to purchase comprehensive and collision coverage in case of an accident. Such coverage costs much more than a simple liability policy for an older sedan.
In most cases, older vehicles don't need comprehensive and collision coverage because the policy cost may supersede the car's value. Therefore, driving a less expensive car will help you save hundreds of dollars in premiums every year.
- Join another person’s policy
Another useful tip is to join your parent's (or older sibling's) insurance policy. Being added to such a plan can help you save as much as 50% in premiums. However, you can expect an increase in the amount that your parent's (or sibling's) policy will cost.
Insurance companies for young males to consider
As you begin shopping around for competitive insurance rates, consider the following companies. Each has its pros and cons, so take time to determine the type of policy that will suit your specific needs.
Geico: Geico offers the most competitive premiums for young male drivers. You can also further reduce premium costs by setting a higher deductible.
State Farm: offers the best combination of discounts and perks, including accident forgiveness and student discounts.
The General: offers favorable rates for high-risk drivers. If you have multiple violations on your record, consider them during your search.
AllState: provides the best coverage options for young male drivers. You’ll be able to access multiple resources and quality service whenever you need help.