Car insurance premiums for red and green P-platers are generally higher than those for more experienced drivers because of their age, driving experience, claims history or a combination of these things. Insurance premiums reflect the likelihood of drivers making a claim and the estimated cost of those claims, based on factors like age, car, location, any claims history of the drivers and data about the costs of other similar claims. So, because younger and less experienced drivers are statistically more likely to have accidents, insurers factor this into their pricing. The good news is that your car insurance premiums may decrease once you're in a less risky age group and gain more driving experience, assuming no other changes such as you don't make any car insurance claims or swap your car for example.
The other potential cost that young drivers should know about is the excess. Excess is the amount of money you pay to your insurance company if and when you lodge a claim. For example, for Bingle, the age excess amount for a driver under 25 years is $600 - you'll need to pay this in addition to the standard excess and any other excess that applies. Some insurers also have an Inexperienced Driver excess if you've only had your licence for a short period of time.
Driving on your own can be scary at the start, but it can help to know you're covered by the right type of car insurance for your needs. Find out more information about Bingle Car Insurance.