Young drivers quoted high car insurance rates

After new research has brought the fact that younger motorists are being charged an arm and a leg for motor car insurance to the attention of the general public, young drivers have been on the hunt for cheaper car insurance any way they can get it.

While some cases have seen younger drivers being given a car insurance quote of as much as £90,000 for a year’s worth of cover, such astronomical rates are usually the result of a system glitch and not a legitimate price quote.  Despite this, discount car insurance for young drivers has become exceedingly difficult to find in recent years.

Younger motorists have always paid more for their insurance cover due to a predilection for accidents, say car insurance companies.  The AA has stated that 20 per cent of new drivers are involved in serious accidents during their first year of motoring. This results in claims costs of around £4,500 for young male drivers and in excess of £2,700 for females.  Statistics also indicate that male motorists aged 21 or younger are ten times likelier to become involved in an accident than those over the age of 35.

This statistical data has resulted in the cost of motoring for both provisional and new drivers quite dear.  Luckily for these classes of drivers several companies in the UK have begun to offer a ‘black box’ telematics device that records drivers’ motoring habits and can reward safe driving with reduced premiums.

One car insurance specialist remarked on the new technology, stating that young motorists simply don’t have th cash to spend on the exorbitant premiums being offered by insurers.  No 17 year old student still living at home with their parents could reasonably afford an £11,000 insurance premium that some insurers would expect them to, the official added.

Fortunately new technology has enabled insurers to instead offer telematics solutions to these classes of motorists in order to reduce the costs to a young driver in insuring their vehicle, commented the official.

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