Young Drivers Insurance

Why does insurance cost so much for young drivers?

Figures show that nearly 20 per cent of young drivers between the ages of 17 and 20 are driving whilst uninsured and the reason usually given for this is that car insurance premiums for younger, inexperienced drivers are extremely high. The highest premiums of all are generally charged to 17 year old males who have just recently passed their driving tests, and the premiums are often substantially higher than those they were charged whilst they were learners. Just how high these premiums are can be eye watering; as an example, a 17 year old student who wanted to insure a ten year old 1000 CC Vauxhall Corsa fully comprehensively in July 2010 was quoted anything between 3600 and an incredible 17,000! It would appear strange at first that had our student been a learner driver the premium would have been about 1200 lower than this but the explanation is simple; as a learner he would have to be accompanied on the road by an experienced and qualified driver, whereas with his brand new licence he would be able to take a machine capable of around 90 MPH out onto the roads by day or night, in all weathers and all conditions without any supervision whatsoever.

Many people have commented that these rates are an absolute rip off and that it is hardly surprising that so many young people choose to drive without any insurance at all. Statistics show however that most of these premiums are very fairly priced considering the risks; not only are about 20 per cent of new drivers involved in a substantial accident within six months of passing their tests, but the costs of the claims are usually far higher than the average, usually because the accident occurs at a higher speed. Of far more interest to the parents of these young people is another extremely grim statistic; young males between the ages of 17 and 20 are about nine times more likely to be killed on the roads than older drivers. Whilst the human cost is high the financial cost is substantial too; uninsured drivers cause about 500 million worth of damage every year, and this is paid for by other law abiding drivers in the form of higher premiums. Hardly surprisingly, many insurance companies are reluctant to insure new drivers at all, at any price.

With premiums for younger drivers being offered at around three times the price that an older driver would be expected to pay any way of reducing them to a more manageable level would appear to be welcomed but one method of reducing them by anything up to a third is ignored by around 95% of young males; and that is the Pass Plus course. Whilst the cost of the course may be greater than the amount by which one years insurance premium would be reduced, the benefit is continuous and over the years should add up to a very considerable sum; and this is completely ignoring the fact that the young driver who has successfully completed the course will be far less likely to be involved in an accident which could cause him or her serious injury; or even death

Compare prices from young drivers specialists

Go Compare's comparison site lets you compare the prices from many of the UK's top insurers (some of them accept monthly payments if you're 18+) but they don't just find you the lowest price on offer from them but they also let you compare the different policy features too so you can see how much you can save by accepting a higher excess, lower mileage, etc. Sometimes these can make a considerable difference to premiums.

Click here for a price comparison

 

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 Driving tips for young drivers
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 Restrictions on young drivers
 Young drivers car insurance
 How to avoid car accidents
 Pay as you drive insurance
 Slashing insurance costs
 Bad weather driving
 Buying a safe car
 Driving safely

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