Getting insurance for young drivers can be a pain. If you’re a young driver between the ages of 17 and 24, you’ve probably thought why is my insurance so expensive?
There are several reasons for this. But one of the main one’s is that they’re collectively perceived as higher risks on the road than other drivers.
Increases in young driver insurance quotes have been attributed to them being a higher risk on the roads. In 2018 the Government reported that 18% of road and traffic casualties was caused by drivers between the ages of 17 and 24. Based on this static and several others to support it, young drivers are seen as a high risk. As a result, insurers increase their premiums, in the efforts to protect themselves and others.
One of the other reasons that raise young driver’s premiums is their lack of experience on the road. Of course, this is kind of a double-edged sword. How can more young drivers gain road experience if the insurance quotes are too high?
But this is how insurers gauge the risk of a driver. To lower your premium, you’ll need to build up your No Claims Bonus Discount (NCB). If you drive consecutive years without a claim, this will build your NCB up and get you cheaper car insurance.