Teenagers are considered to be among the highest risk road users in the world. A teenager can only just have passed his test, by simple virtue of the fact that you can’t learn to drive until you are 17 years old – and with teenage boys yet to develop the part of the brain that fully understands consequence (this is a scientific fact; the last part of the brain to develop, in the slow burning male body that can take until the late 20 to arrive) that’s a pretty risky recipe.
Motor insurance coverage for a teenager, then, may need to be slightly more comprehensive than the same insurance package for an older and more experienced driver. The premiums are usually higher for teenagers, as a consequence of everything noted above: and the more powerful the vehicle, the more expensive the policy will be.
Protection Through Price
The cost of a motor insurance policy for a teenage boy can be a protection in itself. For instance, it would be almost impossibly expensive to insure your teenage son to drive a Ferrari – a premium at this level of power and inexperience could conceivably cost more than the car itself.
Most motor insurance policies require a minimum amount of experience before initial premiums begin to fall. Additionally, the penalties levied for actually having to make a claim are high in the first five years (on average, anyway) – so the teenage driver may be forced to learn about cause and consequence in order to stay on the road.
Simply put: teenage boys don’t have a risk aversion function in their brains. Their hormones are all over the place, their testosterone levels (the hormone that causes aggressive and thoughtless behaviour) are high – and they’re behind the wheel of a car for the first time in their lives.
The chances of a teenage boy having an accident within the first five years of his driving life are incrementally much bigger than the chances that he will have the same accident later in his life. So his motor insurance policy almost becomes of double importance early on. To get a good insurance policy for a teenage boy it is necessary to find one that will be financially lenient while the chances of that accident are so high; but that will adequately protect both driver and third party from the consequences of the incident, should it occur.
It’s more or less the case that the majority of motor insurance policy providers will penalize a teenager just for being a teenager. In order to find a policy that is financially bearable, then, you need to look around for a high risk insurance provider – a company, in other words, that deals specifically with insuring elements that other businesses would either leave alone, or would charge very high premiums for. Be aware that even in these special cases the cost of premiums will be higher than other companies or policies – for the simple reason that the risk level of insuring a teenage boy is viewed to be so high.
Motor insurance coverage for a teenager may need to be slightly more comprehensive than the same insurance package for an older and more experienced driver.