‘Car insurance has become much more expensive, especially for young people’

Car insurance has become twice as expensive in seven years, according to research by Independer earlier this year. Now the same comparison website has once again examined the development of premiums and it appears that young people in particular are confronted with extremely rapidly rising prices. A young person aged 18 to 24 now spends approximately €313 more annually than two years ago, which is a price increase of 22.5 percent. The average premium for car insurance at that age now amounts to €1,701 per year. By comparison: people over 65 pay €1,097 less per year.

According to Menno Dijcks, car insurance expert at Independer, young people are increasingly hit harder in premium calculations. “The differences with other age groups only seem to increase over the years. The question is therefore whether young people will still be able to insure a car at a certain point.” It makes little difference what kind of insurance young people take out for their car. In two years, third party liability insurance became 23.4 percent more expensive for that age category, third party liability insurance 24.2 percent and all risk insurance 19.8 percent.

Source: Independent

The fact that premiums have increased (for all ages) is of course explainable; “This is due to the increased costs of repairs, increased salaries and the higher costs of materials,” says Dijcks. According to him, it is becoming more and more of a challenge for young people to insure a car themselves: “With these kinds of amounts, as a young person you start to wonder whether you can still afford a car with the associated insurance.” Dijcks gives tips: “There are major differences between insurers and it is wise to look carefully for the best and most affordable insurance for you. There are also insurers where you can get a discount on the insurance with a higher deductible. premium. But: make sure you put that extra amount aside.”