2023-09-29 06:00:02
COLCANOPA
Public transport, museums, theaters, cinemas… Young adults benefit from reduced prices in many everyday areas. A welcome boost for this entire category with its budget under pressure. But there is one area where they pay twice as much as others, that of car insurance. 18-25 year olds pay on average 1,255 euros per year to insure their vehicle, compared to 630 euros for the entire population, according to the Assurland comparator (figures at the end of 2022).
These drivers pay a high price for their lack of driving experience. “A quarter of 18-25 year olds have declared between one and five claims in the last three years, compared to only 18% of 56-65 year olds”, explains Olivier Moustacakis, co-founder of Assurland. Insurance companies pass on this additional risk by increasing their rates for this category. “They charge an additional premium of up to 100% the first year and 50% the second yearspecifies Mr. Moustacakis. These ceilings are governed by regulations and concern young drivers regardless of their age, that is to say those who have had a driving license for less than three years and who have not been insured. »
How to reduce the score? “Not having insurance is not an option, it is even quite simply prohibited, although there are some 800,000 vehicles in this case”recalls Adeline Fortesa, commercial director of the comparator Le Lynx.
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Insuring your car in the name of a more experienced relative, such as your parent, is also not a good idea. “If, in reality, the car is exclusively driven by the young person, this is a false declaration, which could result in the contract being void”, warns Henry de Courtois, president of Direct Assurance. It specifies that in the event of a serious accident an investigation can be carried out to verify who is the usual driver of the vehicle.
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However, there are some solutions to reduce your car insurance premium. “Choose an underpowered, old, low-value vehicle”, summarizes Christophe Sabadel, mobility product manager at MAIF. The insurance premium will be limited because it is partly linked to the value of the car. In addition, this allows you to choose cheaper “third party” insurance rather than “all risks”. The third party formula constitutes the legal minimum including civil liability, covering bodily injury and material damage caused to a third party in the event of a disaster. It can be extended to cover, for example, theft, fire and broken glass.
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