HomeInsuranceInflated car insurance premiums deflating young drivers

Inflated car insurance premiums deflating young drivers

He’s certified to fly commercial passenger planes, but car insurance companies still consider him “high risk” simply because he’s a young driver.

Robin Somers, 20, has tried for weeks to find affordable car insurance for his 10-year-old car. His search has been futile.

Despite having been driving for four years with an unblemished record, he faces upwards of $6,000 to $8,000 a year in insurance premiums — more than half of what it cost for the used car itself.

“Having to pay this much just because I’m young, and having no control over that despite having a clean driving record, is as just sad and disheartening,” said Somers, a recent college graduate who works as a commercial airline pilot.

Young drivers under 25 pay upwards of four to five times the amount for car insurance compared to more experienced drivers. For many already straddled by student debt and the…

Read more at www.thestar.com

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