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What would they like to say? The data suggests that it also takes approximately 10 years to form the skills one needs to drive. Hence why insurance rates typica

What would they like to say? The data suggests that it also takes approximately 10 years to form the skills one needs to drive. Hence why insurance rates typically decline to a meaningful degree when one turns 25. But, like all things in life, there are tradeoffs. While road safety would no doubt improve if everyone had to spend 10 years learning and developing driving skills, there would be a lot of social consequences to keeping people from driving until so late in life. Consequences we have not been willing to accept. We could just as easily allow medical professionals to practice without such lengthy requirements. Anyone can become a shoddy doctor. It is not hard job to do poorly. But we've selected different tradeoffs there. It is not as socially impactful if a doctor can't practice until later in life, and is arguably more socially beneficial to see them wait until their skills have really developed.

eru 3y ago
> Hence why insurance rates typically decline to a meaningful degree when one turns 25. Germans, for example, typically learn driving much later than Americans. Would be useful to check the data to see whether their insurance rates drop at around the same age, or around the same years of driving experience. Because the obvious null hypothesis to explain your observation of insurance rates is that young people just take more risks.
- tharkun__ 3y ago
  Age does affect it yes. And it starts dropping earlier: drivers between the ages of 25 and 67 can expect a discount on the average claim requirement - the insurance premium drops thanks to age being taken into account. Drivers aged 27 to 41 receive the largest discounts of 26 percent, while those aged 63 to 67 benefit from discounts of 6 percent So while Germans start driving later they also drop rates earlier. And the older you get the less you get your rates dropped based on age! Around 45 is where you benefit the most from your age for rates. But older people according to this also have the advantage of having a longer driving record and if you didn't have an accident in that time it can counteract the bad effect of advancing age on your rates. https://www-gdv-de.translate.goog/gdv/themen/mobilitaet/so-wirkt-sich-das-alter-auf-den-kfz-versicherungsbeitrag-aus-12464?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp https://www-gdv-de.translate.goog/gdv/themen/mobilitaet/so-w...
  - eru 3y ago
    Thanks!

eru 3y ago

> Hence why insurance rates typically decline to a meaningful degree when one turns 25. Germans, for example, typically learn driving much later than Americans. Would be useful to check the data to see whether their insurance rates drop at around the same age, or around the same years of driving experience. Because the obvious null hypothesis to explain your observation of insurance rates is that young people just take more risks.

tharkun__ 3y ago
Age does affect it yes. And it starts dropping earlier: drivers between the ages of 25 and 67 can expect a discount on the average claim requirement - the insurance premium drops thanks to age being taken into account. Drivers aged 27 to 41 receive the largest discounts of 26 percent, while those aged 63 to 67 benefit from discounts of 6 percent So while Germans start driving later they also drop rates earlier. And the older you get the less you get your rates dropped based on age! Around 45 is where you benefit the most from your age for rates. But older people according to this also have the advantage of having a longer driving record and if you didn't have an accident in that time it can counteract the bad effect of advancing age on your rates. https://www-gdv-de.translate.goog/gdv/themen/mobilitaet/so-wirkt-sich-das-alter-auf-den-kfz-versicherungsbeitrag-aus-12464?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp https://www-gdv-de.translate.goog/gdv/themen/mobilitaet/so-w...
- eru 3y ago
  Thanks!