Why Young Male Drivers Pay More on Motor Insurance
Men do not benefit from their gender when it comes to car insurance, much like how women do who are considered a lower risk profile than men. The lack of savings on your premiums are even worse if you’re under the ages of 25 as car insurance is more expensive due to you being perceived as a high risk profile.
Some may argue that men are higher risk drivers without having any verifiable proof but that fact is that car insurance companies reach these decisions based on their claim statistics and the risk assessment by their actuaries.
Therefore the proof is in the facts or should I say statistics now what? You may wonder well despite your age and gender kind of working against you (sorry to say) the good news is car insurance is available for all car owners.
And there maybe way to get car insurance, here are some of the options. If your car is not under finance, you can opt for cheaper and lesser cover rather than no cover at all. By looking into a combination motor and vehicle household insurance. You may not own your own house but you can still qualify for this cover if you insure the household contents which belongs to you. It can translate into a saving in terms of under 25 car insurance.
You could also opt for the cheaper third party insurance rather than comprehensive cover. Although comprehensive car insurance cover is the better cover due to it’s overall cover. But third party insurance would be the better option especially if you’re on a tight budget. It’s cheaper and covers you against the costs of having to pay for the accident damage repairs should you be at fault in the accident.
Better yet opt for basic car insurance that unlike with third party car insurance, which protects you against the financial implications of damaging another person’s vehicle or property. But what should happen if you need reimbursement for the damage to your own vehicle. That even if you can pay for the damages on your own, you may lose your vehicle in the event of theft, hijacking or even a fire. Well with basic car insurance. It contains third party cover along with theft and fire cover for your car.