The online car insurance comparison portal found that those drivers between 17 and 22 years of age could be facing monthly premium payments of as much as £546. Annual car insurance rates for newly qualified drivers are approximately £5,957, the survey found.
Due to a higher risk of traffic accidents, premiums have nearly always been greater for younger drivers. According to Brake, the road safety charity, one out of every five new motorists end up becoming involved in a road traffic accident within the first half a year of passing their test.
However, younger male motorists have traditionally shown to be the demographic with the largest risk factors. Brake’s figures show that 74 per cent of fatalities among younger Brits are now road-related. Moreover, more teenagers aged between 16 and 19 died in 2009 as passengers in car wrecks than those who had been behind the wheel.
Geraint Anwyl, Chief Superintendent, told the Transport Select Committee this past November that the greatest problems for young drivers weren’t drink or drugs but adrenalin. The worst possible risk for a young woman is to be in a car being operated by a young man, he remarked.
With in excess of 448,000 of these young motorists passing their driving tests on a yearly basis, many simply do not have the ability to pay such exorbitant premiums. Resultantly Motor Insurers’ Bureau figures demonstrate that one out of every five motorist between the ages of 17 and 22 is thought to be motoring without proper insurance.