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Study: Young drivers and insurance policies

Young drivers have difficulties finding a cheap insurance policy. Statistically speaking, they are more likely to be involved in an accident than older drivers and this means their insurance will cost more. If you’re planning on buying a fast or luxurious vehicle, be prepared as the prices for such an insurance will be very expensive. Still, there are ways to get a cheap car insurance for young drivers. Buying a small car that has no additional modifications could be the best solution.

In most European countries, the insurance industry has been consistently involved in road education development in an attempt to reduce the number of accidents and to increase social responsibility of citizens. With the information collected from all the insurance companies in the world, there were identified trends in some of the most important countries where measures regarding road safety were taken.

Thus, CEA – Comité Européen des Assurances – recently published a compendium on road safety, which emphasizes the role of the European insurance industry in promoting road safety. The compendium is mainly based on the activities carried out by insurers in the field of road safety activities focused on young drivers. The paper also presents a series of difficulties faced by the insurers in this campaign and solutions applied in several countries from the European Union.
The first category identified as having a higher risk level is that of young drivers, because they have little experience and are likely to assume unnecessary risk. This lack of experience becomes more visible at night when driving on slippery roads or at high speeds. For example, in Italy, today, to get a driver’s license, there is a greater emphasis placed on knowledge of traffic rules rather than driving skills.

Moreover, the cars driven by younger drivers have fewer safety systems and the seat belt is rarely used. In United Kingdom, government data shows that young drivers resort to insurance policies 50% more than the experienced drivers. Therefore, insurance companies support various youth education programs and campaigns conducted with the state entities. In France, a program to educate young people was started through schools, while in Italy a simulator was created available on DVD or online, which reconstructs the dangerous situation, so drivers can gain experience safely.

Also, another survey in Britain showed that one in three young drivers had driven under the influence of alcohol. For this reason, the rate of accidents caused by young people increased in the last years and the car insurance companies had to take measures.
Of the 2079 drivers, 1432 drivers have testified that they drove under the influence of alcohol or hallucinogenic substances. Specifically, 37% of those surveyed have driven after having consumed alcohol, while 18% resulted after they consumed drugs.

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