Car insurance premiums for P platers are generally higher than those for more experienced drivers because of a combination of factors that reflect the likelihood of drivers making a claim and the estimated cost of those claims. These estimates are based on factors like age, car, location, any claims history of the drivers and data about the costs of other similar claims.
The good news is that car insurance premiums may decrease once you're included in a less risky group and gain more driving experience, assuming there aren't any changes to your policy details.
The other potential cost that all drivers should know about is 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.
Making sure you're aware of your insurance coverage is important – whether you've only just started driving, or you're an experienced navigator. Bingle makes it easy, find out more about car insurance for young people.