It’ll almost seem like a no-brainer to you that young adults in the United States spend more than half of their wages on car insurance.
Do you understand what it means when someone says "auto insurance"?
Well, it is one of the things the largest minority of people have trouble paying.
In fact, according to a study conducted by the National Conference of State Legislatures (NCLB), 65 percent of 18-24-year-olds in the United States are unable to afford their auto insurance payments.
This means that the majority of the American population has trouble affording their vehicle insurance.
What do we mean by this situation? Let me clarify.
How much does each state charge each driver for their car insurance? While some states will cover your entire car insurance premiums from your pocket, some of them will only cover your car insurance premium if you drive somewhere within that state.
The same thing applies if you drive abroad, which means not being able to afford your car insurance premium.
In addition to the annual cost to be paid per month by driving within the U.S., there are also costs to be paid when driving overseas, such as license fees.
Not all states offer free driver’s licenses or minimum age requirements, so you might need to file paperwork and prove your legal driver’s license before your monthly premiums are even affordable.
In other words, many state governments restrict how you can get your car insurance before you have a chance to protect yourself. In most states, this is because you would not be able to afford the amount of insurance required to insure your car.
It might not be fair if everyone had to take out some more money just to be treated fairly. If your family is poor, it might not be easy for anyone to provide for themselves.
So who is saddest? The answer depends on what state you are based upon.
however, here are the top 10 states with the lowest rates for insurance for young adults:
California: $16 per month (From the 2016 Census.)
: per month (From the 2016 Census.). New Jersey: $20 per month.
: $20 per month. Pennsylvania: $22 per month (based on 2018 Census data.)
: per month (based on 2018 Census data.) Virginia: $24 per month (based on 2017 Census Data.)
: per month (based on 2017 Census Data.) South Dakota: $28 per month (based on 2014 Census data.)
Texas: $28 per month (based on 2013 Census data.)
What about auto insurance for women?
I know a lot of car insurance companies might not see eye to eye with those looking for inexpensive car insurance.
However, women are overrepresented amongst the American population but underrepresented in the car insurance market and this is something that should be altered.
Here in the US, nearly 90% of consumers use cars and trucks; however, women account for 30% of those people.
So why are women overrepresented among those that use and drive their vehicles? More than 500 million females are driving in the US today, representing 24% of the total market.
That puts women at 25% of the overall number of cars registered.There are a few reasons why women are less represented in the industry of car insurance.
First, women and girls are often excluded from employment during times when unemployment occurs.
When unemployment increases in any industry, it is usually the men employed who typically end up receiving higher paychecks and bonuses. Since young people are still entering the labor force, when they look for jobs there is likely to be less demand for these professions.
This is especially true in the car insurance industry where there is already less demand.
More women than men hold jobs as driver’s licenses, and this fact could lead to employers discriminating against female applicants for driving discounts.
Some states allow more flexibility to choose between driver’s licenses, whereas others require you to purchase both driver’s licenses.
In short, a woman drivers car insurance, because she isn’t making enough money.
She wants to live better than her mother and father. What a lovely method to save cash. But, while there is an affordable option available, it is still not good enough.
A woman should not have to play second fiddle to her husband or child, whether it is driving or his role.
She should be able to support herself without giving up time and money.
And that is exactly why it is absolutely important to car insurance for young adults, especially women.