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Do young drivers pay more for their car insurance?

2022-09-26T09:05:40.068Z

Because insurers believe that young drivers are motorists with more risk, they practice insurance prices



Most insurance companies offer specific car guarantees for young drivers.

Considered to be at risk, young drivers pay more expensive

car insurance rates

than other motorists.

Why is an additional premium allocated to new license holders and how can you reduce your car insurance premium?

Response elements.

Why is young driver insurance more expensive?

Insurers set their auto insurance rates based on risk.

On this principle, there is a higher cost for young driver insurance.

Indeed, the lack of maturity in the conduct of young drivers increases the risk of road accidents and material damage.

Road safety figures show a higher number of claims among young drivers.

Consequently, the number of claims resulting in the payment of compensation is higher.

It is with this in mind that

car insurance companies

set more expensive rates for young drivers in order to weigh this risk. 50% the second and finally 25% the third year.

Note that insurers also use the additional premium for motorists responsible for repeated claims, based in particular on the bonus-malus.


I find the cheapest car insurance

The price of young driver car insurance

varies firstly according to the formula chosen:

  • Third-party insurance: the least expensive, but also the least protective;


  • Extended third-party insurance: this is the intermediate formula which includes civil liability, theft, fire and glass breakage cover;


  • All-risk insurance: this covers all material and bodily damage for the insured and third parties.

How to reduce the price of your young driver insurance?

Auto insurance remains

compulsory for any owner of a land-based motor vehicle

.

Consequently, each motorist must take out at least a car contract with a third-party insurance formula.

Although less expensive, the third-party formula only gives you civil liability in the event of damage to others.

If you damage your vehicle, you do not benefit from any compensation.

Therefore, it is preferable to opt for a more complete car formula when you are a young driver.

So, how can you reduce the price of your young driver car insurance?

There are different solutions to reduce the price of your car contribution:

  • Access AAC (Advanced Driving Learning), commonly known as accompanied driving.

    Insurers take this into account and offer up to 50% reduction on the additional premiums applied;

  • Choose an auto insurance company that offers young driver auto packages at competitive prices;

  • Try connected car insurance: created for responsible drivers, you place a box in your car to prove your good driving.

    The price of your car contribution can be reduced by up to 50%;

  • Opt for a small car and a used model: insurers take these criteria into account to adjust the price of your young driver car insurance.

>> SERVICE: Click here to compare insurance contracts for your car

Young Driver Car Insurance FAQ

Do you want to insure your first vehicle?

Here are answers to your questions about car insurance, its rates and conditions.

How much does car insurance cost for a young driver?

The average price of car insurance can vary depending on the formula chosen (third party or all-risk) with an average range of at least 400 euros per year that can go up to 650 euros.

How does the young driver bonus work?

The bonus malus coefficient is the system that allows insurers to adjust the price of car insurance according to the profile of the insured.

The first year, young drivers have a bonus malus equal to 1. After one year, if the young driver does not record any claim, he benefits from a 5% reduction and then displays a coefficient of 0.95.

Source: leparis

All life articles on 2022-09-26

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