Almost three out of every four young motorists living in Sheffield say that they are crippled by high car insurance rates, with their social lives the biggest casualty.
A motor car insurance provider carried out the survey recently, discovering that a total of 72 per cent of younger motorists between the ages of 17 and 25 feel that car insurance companies are inhibiting their social lives by charging exorbitant premium prices.
Younger motorists reported not being able to go on nights out with friends, on holiday, or even to make clothing purchases because the cheapest car insurance they could find was extortionate. The survey respondents indicated a range of £2,000 to £4,000 in regards to the costs of their annual insurance cover.
At 27 per cent, more than one out of every four young drivers stated that they knew someone who had driven their parents’ car without being insured – or that they had done so themselves. The research poll also discovered that 68 per cent of younger motorists with enough luck to be able to afford their insurance premiums had their friends enlist them as a ‘taxi service.’
Swinton insurance development manager, Steve Chelton, commented on the research survey results, stating that the outcome was quite clear: younger car owners are feeling as if they’ve been exploited by insurers, as it is costing them an arm and a leg just so they can enjoy the mobility that previous generations had available to them for much lower costs.
Insurers need to tackle this issue head-on, Mr Chelton said, or else the UK runs the risk of ending up with a frustrated and stranded generation of young motorists, especially as some of them feel they have to resort to breaking the law in order to get behind the wheel.