Getting insurance for young drivers can be a pain. If you’re a driver between the ages of 17 and 24, you’ve probably thought ‘why is my insurance so expensive?’
There are several reasons to explain this.
But one of the main one’s is that young people are collectively perceived to be higher risks on the road than other, more experienced drivers.
The expensive young driver quotes have been attributed to the fact that youthful drivers are considered to be a higher risk on the roads. In 2018 the Government reported that 18% of road and traffic casualties were caused by drivers between the ages of 17 and 24. As a result, insurers tend to increase their premiums for young drivers.
One of the other reasons for such high premiums for young driver’s is their lack of experience on the road. Of course, this is a double-edged sword. How can 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 (NCB). If you drive consecutive years without a claim, this will build up your NCB and your car insurance will become cheaper over time.