Young people and suburbanites are the losers due to the extreme expansion of car insurance
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Insurance premiums for young people have risen exorbitantly in the last two years. Drivers between the ages of 18 and 24 are paying almost 23 percent more for their car insurance than a year ago.
The extreme price increase is evident from figures from the comparison portal Independer. Older people are less affected by the price increase. Premiums for young people are rising more than three times as fast as those for older people.
Extreme increase in insurance premiums for young people
On average, young people pay 313 euros more in insurance premiums for their cars than they did two years ago. That’s a price increase of 22.5 percent. On average, drivers between the ages of 18 and 24 pay 152 euros per month. This corresponds to an annual amount for car insurance of 1,701 euros!
People over 65 pay significantly less. The increase was also relatively small in this age group: 7.4 percent. A car owner aged 18 to 24 pays an average of 1,097 euros more per year than a person aged 65 or over.
Car insurance is the most expensive in South Holland
In South Holland, young people pay the highest premiums. The car insurance there has an average annual premium of no less than 1,945 euros. The premiums in the Randstad are actually always higher than outside of it. If you have a car as a young person in Friesland, it is significantly cheaper. The average annual premium there is 1,267 euros, more than a quarter less than the national average.
Car insurance prices by type
There are three different types of car insurance. This is the average cost per type.
1. WA
The average annual premium for motor vehicle liability insurance for teenagers in the Netherlands is 1,466 euros, 23.4 percent more than two years previously.
2. WA+
The annual premium for WA+ averages 1,620 euros. You pay 24.2 percent more than in 2021.
3. All risk
All-risk vehicle insurance costs 2,324 euros per year. The insurance premium has increased by 19.8 percent compared to two years ago.
Source: Auto visie
I’m Jamie Bowen, a dedicated and passionate news writer for 24 News Reporters. My specialty is covering the automotive industry, but I also enjoy writing about a wide range of other topics such as business and politics. I believe in providing my readers with accurate information while entertaining them with engaging content.
