It was an expected announcement: Elisabeth Borne confirmed this week that the age to get the license and drive would be lowered from 2024 to 17 years. A way of promoting the mobility of young people, especially in areas that lack public transport and where access to a car is essential.
A population at risk and therefore more expensive to insure
However, the reactions were mixed, with some pointing out the risk in terms of road safety, since young drivers have statistically more accidents than the rest of the population. 25% of young people aged 18-25 have declared between 1 and 5 accidents in the last 3 years, that is, 7 points more than those aged 56-65. And traffic accidents remain the leading cause of death and disability among young people.
A direct consequence of this increased risk is the cost of car insurance, which also skyrockets among the youngest. According to the Assurland comparator, the average annual contribution of young people between the ages of 18 and 25 in France was 1,255 euros in 2022, compared to the 630 euros for the national average for all categories*.
A population that has also suffered more strongly from the blow of inflation, also in this area of the car insurance premium: +18% in 2022, compared to the 3% national average.
“100% premium the first year”
To limit this cost, young people between the ages of 18 and 25 generally reduce their level of coverage: 38% are insured against all risks, against 55% for all motorists, recalls Assurland.
“The lack of experience behind the wheel and the loss of experience on the roads lead insurers to apply an additional premium of 100% the first year, 50% the second and 25% the third, without having suffered an accident in the meantime” , remember the insurer. comparator
However, it is difficult to anticipate the future cost of insurance for these 17-year-old drivers.
“Indeed, insurers should continue with the logic of the premium by applying prohibitive rates, given the risk that this population can represent on the roads”, simply indicates Assurland’s press release.
Ornikar online insurance, which launched its own car insurance solution this year, also anticipated this future problem and indicates that it is “working with its insurance partners to find lasting solutions that strengthen coverage for this young audience,” it explains in a press release Philippe Maso. and Guell Rivet, general director of Ornikar.
how to pay less
Assurland’s tips to narrow down the cost of insurance: Firstly, compare different insurances… obviously this is their core business, but there are real savings at stake.
Accompanied driving (which already allowed you to get your license at 17, but without being able to drive alone until you were 18) also reduces the additional premium that insurance applies to young drivers. The latter can also benefit from a discount if they are designated secondary drivers by the parents’ insurer.
It is also recommended to opt for a first car that will be less expensive to insure: ideally a small, old and not very powerful car.
*Source: study carried out by Assurland.com in 2022 on an analysis of 50,000 car insurance quotes returned by the comparator between January 1, 2022 and October 1, 2022
Source: BFM TV
