Car insurance for young drivers is notoriously expensive – find out why and what you can do to lessen the blow
Our latest data shows that average premiums for young male drivers aged 17 to 18 are almost than £2,200, while young women in the same age bracket face average bills of close to £2,000 – a 50% rise since the EU Gender Directive came into force on 21 December 2012.
And with insurers no longer able to take gender into account when calculating car insurance premiums, the cost is only heading in one direction during 2013.
Why is young persons car insurance so expensive?
The main reason premiums for young drivers are so expensive is down to risk – statistics show that young drivers are far more likely to be involved in accidents than drivers over the age of 25, with insurance premiums calculated to reflect the stats.
AA research shows that one in eight British drivers is aged 25 and under, with a quarter of all drivers involved in serious traffic collisions within this age group.
As well as being more likely to have an accident, young drivers often have to pay more for their car insurance because they haven’t had the chance to build up a no claims bonus over time.
Getting the cheapest car insurance for young drivers
There are a number of things you can do if you’re struggling with the high cost of car insurance for young drivers.
One factor likely to have a big effect on the price of car insurance for new drivers is the type of car itself, with speed, security features, and value all playing a big part – read our guide to the cheapest cars to insure to find out which cars attract the cheapest insurance premiums.
It also pays to think carefully about the level of cover you need, as well as whether or not to pay a higher voluntary excess – read our 9 top tips to cutting car insurance for young drivers to find out more.
