The insurance premium for young people has never been as insanely high as it is now. Yes, ladies and gentlemen, we have reached a record.
Driving is extra expensive for novice drivers. Not only in relative terms, as most young people do not yet have a lot of money to drive a car. Driving a car for young people is also extremely expensive in absolute terms, mainly due to the insurance premium.
In principle, it is of course quite logical. Young people are less experienced and the statistics don’t lie: they are more often involved in an accident. A reason for insurance companies to keep tightening the vices. In 2023, a new record has been reached when it comes to insurance premiums for young people. This is reported by the comparison site car insurance.nlso we assume that these people know something about premiums.
Higher premium
The higher premium is not only due to the statistics that they drive more damage. It mainly has to do with the fact that you have not accrued any claim-free years. So you start at zero. But yes, such young people employed there. Nowadays they also have to have 10 years of relevant management experience at board level to be able to fill shelves at the local supermarket, so this is also possible.
We did a quick search and were completely shocked by the leplazarus. If a simple Asian shopping cart wants to insure, a liability + insurance is about 200 to 300 euros per month! That’s an insane amount of money for people who probably have part-time jobs and student loans. And we looked for a 2010 Hyundai i10 1.1i Active with manual transmission, not a Lancia Stratos or TVR Cerbera Speed Twelve or something.
What to do about the high insurance premium for young people?
Naturally, this means that young people are looking for a different solution. Because to pay the value of a used A-segmenter per year now is also a bit crooked. Young people often put the car in their parents’ name, in order to avoid the high premium. However, this is seen as fraud, because you are deliberately fooling the insurance company. Fraud, Charles McGill would say.
Another option is simply to leave the car for what it is and wait a few years for the fontanelles to grow even closer together. For a older youngster the premium is also slightly lower.
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