Gerard is 21 years of age and has recently passed his driving test - Junior Cycle Business Studies - Question 4 - 2019
Question 4
Gerard is 21 years of age and has recently passed his driving test. He has now purchased an old car and needs to insure it.
Outline two factors that the insurance c... show full transcript
Worked Solution & Example Answer:Gerard is 21 years of age and has recently passed his driving test - Junior Cycle Business Studies - Question 4 - 2019
Step 1
1. Gerard is young.
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Answer
Gerard's age of 21 years categorizes him as a young driver, which typically results in higher insurance premiums due to perceived higher risk.
Step 2
2. Gerard's car is old.
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Answer
The age of Gerard's car may lead to different insurance costs. Generally, older cars may have lower market values, impacting the amount of coverage and premiums.
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