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 more 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 of new driver insurance is only heading in one direction during 2013.
Why is young persons car insurance so expensive?
The main reason car insurance for young drivers is so expensive is 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 and new 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.
Cheap insurance for young drivers can thus be quite difficult to find, but you can compare the market for new driver insurance on uSwitch.
Finding cheap 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.
There are many things that can impact the cost of car insurance for new drivers including the car, your speed, its security features, as well as its value – you can learn more about the type of cars which attract the cheapest insurance premiums by reading our guide to the cheapest cars to insure.
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.
New driver insurance
Car insurance for new drivers has similar pitfalls to getting car insurance for young drivers – ultimately, it comes down to the providers taking a risk on your inexperience.
New drivers of any age are often cited in statistics that show them being more likely to have an accident than their more experienced counterparts.
This often means that new driver insurance is likely to have the high premiums often associated with car insurance for young drivers.
You can read our guide to car insurance for new drivers to learn more.