If you want to know how car insurance for young people works, in this article we will tell you everything about the best young driver insurance car: from how to identify the best policy and which companies offer insurance, to which coverage is the most interesting.
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The Best Young Driver Insurance Car Company
Among the companies operating in the car insurance business, there are those that offer special products to young people, specially designed for them. But there are also those who promise to adjust the price of their policies for young people, offering the same guarantees, such as AXA with the FlexiRapid product. Here are some insurance policies for young people that you can find on the market:
MAPFRE Car Insurance for young people
With MAPFRE it is possible to take out car insurance for young people with all the company’s protection and at an attractive price. You can choose from the usual types of insurance.
It offers advantages such as the driving license deprivation subsidy and the fine management service. MAPFRE provides special treatment to its youngest policy holders with benefits such as motorist assistance. If you want to know what other attractions MAPFRE may have when it comes to insurance for young people.
Línea Directa Car Insurance
Línea Directa is one of those companies that think about the group of novice drivers with a specific insurance that includes coverage specially designed for them. This is the case of the night assistance service for young drivers, available between 0:00 am and 6:00 am. Thanks to this useful coverage, if you find yourself unable to drive, you will be taken to your home (by cab) and a tow truck will tow your vehicle (by tow truck). Línea Directa offers other advantages in this insurance, such as payment in installments and free choice of garage.
The main advantage of AXA FlexiRapid is, in addition to its online contracting, its flexibility. It allows you to add a series of guarantees and benefits with which you can enjoy all the quality of a traditional company such as AXA. This option is ideal in the case of insurance for young people.
The customer service vocation is one of its strong points and they demonstrate it with advantages such as the commitment of towing in 60 minutes and the FlexiRapid Repair Service. To configure the insurance to your needs, you can choose coverage such as replacement vehicle, full assistance, assistance abroad and driver insurance extension.
Factors that determine the price of insurance for young drivers
Young people, especially those between the ages of 18 and 25, bear the highest insurance premiums, which can be up to 400% higher than those of older drivers in the same circumstances. Why does this happen? We analyze some of the reasons:
Higher expenses for insurers
The fundamental reason is that insurance for young people is the one that generates the highest expense per policy for insurance companies. According to statistics, the imprudence and lack of driving experience of those under 25 years of age increase the probability of having a traffic accident. These young people are not only the ones who are involved in the most accidents, but they are also the ones who have the most serious accidents (involving third parties and personal injury, among others) and, therefore, the most costly for the insurance company.
Inexperience, another key factor in insurance for young people
However, in this age range, premiums also vary greatly depending on factors such as the age of the driver’s license, the number of years you have been insured or the technical characteristics of the vehicle to be insured. That is why, if you are a young driver (less than 25 years old) and a novice (less than two years with your driving license) it is likely to be more complicated and expensive for someone to insure you.
Thus, it can be stated that those users who are less than five years old will pay more for insurance than older drivers. For example, third party insurance with the same coverage costs a driver under 25 years of age 20% more than another driver under 30 years of age. The difference can be as much as 40% if we are talking about All Risks with excess.
Unadvisable alternatives to insurance for young people
There are other ways to reduce the cost of car insurance for a young and novice driver, but they are not recommended. One of them is that the young and novice driver does not appear anywhere on the policy and yet drives the insured vehicle.
This is possible if a family member is placed as the policyholder and driver of the car without actually being the policyholder and driver.
Since the policyholder is a veteran driver, the insurance will be cheaper, but this trick has its drawbacks. One of them is that, since he will not appear as a regular driver, he will not enjoy the bonuses for good driving, so in the future, any other insurance will be more expensive.
Another disadvantage is that if you have an accident, it will be added to your family member’s accident record. In addition, if he is under 26 years of age and/or has held a driver’s license for less than two years, the insurance will not cover the damages for which he is responsible. The young person benefits from a lower price, but it is to the detriment of others.
It should be noted that insurance contracts make it clear that the actual driver of the vehicle must be declared. The insurer can interpret such concealment as bad faith and void the policy. Thus, the bill for the accident will be borne entirely by the driver.
Another trick or alternative to car insurance for young people is that the latter appears as an occasional driver in the policy and, nevertheless, drives the vehicle regularly.
Many companies already apply a surcharge to these situations, as a way of penalizing them. The insurance will be cheaper than if you appear as the main driver, but the same disadvantages as in the previous scheme.
In any case, none of these options is recommended. The best we can advise you is to appear in the policy, either as a policyholder or as a second driver.