🚗 The Youth Premium: Why Inexperienced Drivers Pay More for Car Insurance
If you drive in Ireland, you’ll know that the car insurance isn't cheap. But what is driving up the premiums? The Irish Times says that your age could be why your bill is significantly higher.
An important cause of high car insurance premiums in Ireland is driver age, with the Irish Times highlighting that the average 20-something driver pays over twice as much (€1,692) as a 50-something (€765). However, other key cost factors, particularly the type of vehicle you choose, are significant. Selecting sensible, lower-risk models has been shown to result in significantly lower average premiums, often below €500.
But why do younger drivers pay more? It's not just your age that determines how much you pay, it's also how much experience and driving record you have. A driver's age directly correlates with their inexperience level, which is understood to increase the likelihood of being involved in an accident. New drivers often face higher premiums due to their lack of driving experience.
If you're browsing to find a Car Insurance plan, check out Zurich’s Car Insurance offer for One Big Switch members. Not a member yet? Join One Big Switch today (for free) and discover how much you could save.
Image Source: Base image © Andrew Angelov/Shutterstock, modified by One Big Switch Ireland.
OBS People Power Holdings Limited, trading as "One Big Switch" is regulated by the Central Bank of Ireland as an Insurance and Mortgage Intermediary.
Zurich Insurance Europe AG is authorised by the Federal Financial Supervisory Authority (BaFin) in Germany and is regulated by the Central Bank of Ireland for conduct of business rules. Zurich Insurance Europe AG is registered in Frankfurt, Germany (133359) with its registered seat at Platz der Einheit 2, 60327, Frankfurt A.M. Registered in Ireland as a branch (910127) with registered branch office at Zurich House, Frascati Road, Blackrock, Co. Dublin, A94X9Y3.
One Big Switch earns a commission paid by the Insurer when a member takes up an offer. Further details can be found in our Commission Summary Document.