The fact that insurance companies charge young males higher automobile insurance premiums than young females is an example of

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Risk-based premiums means charging higher premiums to individuals who are considered to be high risk. In this case, young males are statistically more likely to be involved in accidents than young females, making them a high-risk group. By charging them higher premiums, insurance companies are attempting to minimize adverse selection - the tendency of high-risk individuals to seek out and purchase insurance, which can lead to higher overall costs for the insurer. Coinsurance, on the other hand, refers to the sharing of costs between the insurer and the insured and is not applicable to this scenario.

The Fact That Insurance Companies Charge Young Males Higher Automobile