So many young people pay for car insurance

Everyone has to insure their car. This can be a significant cost factor, especially for young people. “Car insurance is practically unaffordable for young drivers, who usually do not yet have that high an income,” says Amanda Bulthuis, money and insurance expert at the comparison portal Geld.nl.

Auto insurance premiums have risen sharply over the past six months. Between July and December 2022, the monthly amount increased by an average of about 4 percent. This is due to the increase in car thefts, more claims for insurers in the second and third quarters of 2022 and more expensive car parts due to inflation.

This is how much young people pay on average for car insurance

Just news for young people who want to insure their car. In 2022, motorists aged 18 to 20 paid an average of 183.05 euros per month for car insurance. That’s almost 2,200 euros per year.

The calculation considered 100,000 randomly selected equations.

To illustrate how extremely many young people pay, you have to look at what the average driver ticks off every month. The average Dutchman pays 74.75 euros a month or 897 euros a year for his car insurance. Young people pay 2.5 times as much.

Tips to insure your car cheaper

What can young people do to get cheaper car insurance? In any case, insurance on behalf of the parents is not a good plan. “If the insurer recognizes this, you have to pay for any damage yourself. Also, the parent and the child will receive a fraud report on their behalf. This will make it practically impossible to take out insurance for years to come,” says Bulthuis.

If you want the lowest possible premium, your best bet is to opt for a small, older, low-performance car. “Car insurance for a ten-year-old Volkswagen Golf or a BMW 1 Series is a good 25 percent more expensive than for a Toyota Aygo of the same age,” says Bulthuis. It is of course advisable to compare different insurers before purchasing car insurance.

Awards by age group