Less for more
Insuring a car is expensive for young, novice drivers. That is common knowledge, but now we also know how much more a young person pays. Car owners under the age of 24 in particular pay much more for car insurance than older motorists, according to data from Independer.
Comparison site Independer is the starting point for many when looking for new car insurance. On average, this resulted in an annual premium of €1,010 in November 2023, or about 84 euros per month. A lot of money, but the situation looks very different for young people. People between 18 and 24 years old were offered an average premium of €1,718, so no less than 143 euros per month and 70 percent more than average.
Although Independer does not say this in so many words, it seems inevitable that on average young people will simply receive less for that much higher amount. After all, the 18 to 24 age group is not the category with the largest budget and is therefore undoubtedly more likely to look for third-party liability insurance for a third-hand car than for all-risk cover on a brand new X5. But again, that is our interpretation.
It is not without reason that 24 years has been chosen as a maximum for this sample, because this age is a kind of magical limit for insurers. This of course has everything to do with the risk of damage, which apparently research shows drastically decreases above the age of 24. This is also evident from a short and unprofessional investigation by AutoWeek, in which we entrusted a Toyota Aygo and an imaginary person to the digital calculators of Independer. For an 18-year-old this results in a premium of at least €114.37 per month, for a 23-year-old it is €70.46 and for a 25-year-old the monthly amount drops to a minimum of €44.83.
– Thanks for information from Autoweek.nl