Youth (up to 24 years) with a liability insurance still pay more, according to figures research Independer. Why? Because according to insurers they pose a higher damage risk and have built up little to no damage-free years. The premiums continue to rise. Currently, a young person pays an average of € 1266 per year, which is € 437 more than two years ago. A 53 percent increase.
According to insurers, young people are a risk group (just like older drivers).
Beginning drivers are more likely to drive damage than experienced drivers. This gives the insurer more costs.
In order to compensate for this, a premium surcharge will be added to the premium and / or they will have to pay a higher deductible .
Little chance of a discount
The gross premium and the no-claim discount determine the prices of a car insurance policy. If you do not claim damages that are your fault, you build up damage-free years. The more damage-free years, the more premium discount you will receive. That is the no-claim discount. Young people can not (almost) claim this benefit because they have not yet had the chance to build up those damage-free years.
Insurance soon too expensive?
There is a chance that young people will no longer be able to pay for their car insurance; there is still no end of the premium increase in sight. This is particularly worrying for young people. They usually have less to spend. The question is how long they can still afford the premium increases.
You can therefore already take action now to lower the premium for your car insurance. Our insurance specialists are happy to help you.
A structural solution is possible to ensure that young people drive less damage, so that they pose less risk. Then the premium does not have to rise or even fall. You can stimulate good driving behavior by rewarding young people for example with an accelerated build-up of damage-free years. Another solution is to apply stricter policy conditions. For example, England has insurances with policy conditions that offer no cover on weekends and evenings. You can prevent damage by not driving at risk moments. As soon as young people pose less risk to the insurer, insurance remains affordable for them.
Costs at a glance
If you (as a youngster) are going to buy a car, it is wise to list all the costs in advance. This provides clear insight into what is involved in buying a car. In addition to car insurance, consider, for example, the road tax, maintenance costs and the consumption of the car. Our insurance specialists are happy to help you compare car insurance and make the right choice.