HOW? ‘OR’ WHAT
The type of car and the guarantees that the motorist needs are taken into account by the insurers to define the amount of the insurance contributions. However, the driver profile is at the top of the list of the main criteria that determine the price. Focus!
What is a young driver?
According to the Highway Code, anyone who obtained their driving license less than three years ago is considered a young driver (or novice driver). However, this notion is not precisely defined in the Insurance Code. In general, it concerns:
– People who have never been insured;
– Motorists whose license has been canceled following serious traffic offenses.
Any driver forced to retake the theoretical and practical tests after the cancellation of his driving license is also considered a young driver. The same is true for an individual who has not taken out auto insurance for at least three years. Indeed, as an insured, he starts from zero despite his many years of driving experience.
Other pricing parameters
Apart from the driver’s profile, other criteria are taken into account to define the cost of car insurance, including:
– The make, model, and age of the vehicle;
– The purchase value, whether it is a new or used car;
– Fiscal horsepower and motorization (gasoline, diesel, LPG, hybrid, or electric);
– The various options such as the driving assistance device for example.
The average cost of young driver car insurance
For the three types of car insurance, the rates offered to “confirmed drivers” are estimated at:
– 450 euros per year for third-party insurance;
– 600 euros per year for the intermediate formula;
– 800 euros per year for comprehensive insurance.
For the young driver, an additional premium with a coefficient of 100% will be applied to define the number of his contributions when subscribing to an auto insurance contract. If he drives in an irreproachable manner and is not responsible for any accident, this additional premium is revised downwards. Indeed, the second year of the insurance, it is reduced to 50%, then to 25% the following year to finally disappear at the end of the fourth year.
How to pay less?
By opting for accompanied driving, the additional premium applied is lower. Indeed, it is reduced by half or 50% of the base rate during the first year. It then increases to 25% at the end of the second year, then 12.5% the following year before being abolished.
Be that as it may, the payment deadlines must be respected to avoid any penalties provided for in article L113-3 of the Insurance Code. Several payment methods are offered by insurers: cash, check, bank transfer, etc.