Throughout the last two years, motor car insurance premiums have increased by 80 per cent for drivers between the ages of 17 and 22, says AA Insurance. Meanwhile findings from one comparison site survey found that the average price of annual comprehensive cover has risen to an incredible £4,006 for male drivers between the ages of 17 and 20.
AA Insurance’s Simon Douglas said that the number of serious accidents that occur on the UK roadways has been in decline, yet the number of young motorists involved in such accidents has been increasing. Older and more experienced motorists are likely to escape unscathed from tricky situations, whilst young people, lacking such insight, end up involved in an accident instead.
Younger motorists also make much higher claims than their older counterparts, which can lead to several insurers to flat-out refuse to provide them with a price quote in the first place. Frustrations have been running high as a result, with specialist insurer Young Marmalade declaring that 93 per cent of younger motorists feel as if they’ve been priced directly off the road
However, industry experts say that for those who have determination to get behind the wheel, there are legitimate ways to keep down the associated costs of motoring without having to resort to driving without insurance cover. Experts recommend choosing a smaller car with an engine less large than your current vehicle, as doing so will land it in a lower cost insurance group, while staying off the road late at night and driving less can also make savings.