Young driver car insurance

The nuts and bolts

Young drivers typically pay more for car insurance than any other group, leaving them – in the words of Liverpool striker Mario Balotelli – asking “Why me?”

But before we go about trying to answer that question, let’s look at the extent of the challenge facing new motorists taking out young driver insurance.

How much?

The average cost of comprehensive motor insurance in the UK is £579 – this is according to the latest Towers Watson industry cost index.

The figure actually shows a fall of 15% compared with the second quarter of 2013. Experts partly attribute this to new restrictions on claims management firms, as well as clampdowns on fraud.

In fact, drivers aged 17 and 18 have actually enjoyed the biggest reductions, at 32% and 29% respectively.

But despite this, young drivers typically pay more for their car insurance, as the following industry-wide table suggests:

Age	Average yearly insurance premium
17	£1,997
18	£1,876
19	£1,515
20	£1,371
21	£1,171
22	£1,060
23	£963
24	£899

Why do young drivers pay more?

The following stats provide substantial evidence that drivers aged under 25 are far more susceptible to the dangers of the road:

- 40% of 17-year-old boys are involved in a ‘shunt’ in their first year behind the wheel

- A car crash is the most common reason behind accidental deaths among 15-24 year olds

- Motorists under 25 are responsible for one in three road accidents - despite only representing an eighth of the motoring population

- 18-year-old drivers are three times more likely to have a road accident than a 48 year old

- A total of 30,850 male motorists aged 20 or below are just one offence away from a driving ban, with six penalty points on their driving licence. This is more than three times the number of similarly aged female drivers

Four ways to lower your car insurance premium

There’s no substitute for driving safely. It really is as simple as that.

Until you start accruing a bank of consecutive annual no claims discounts (that’s when you drive a whole year without claiming on your car insurance), you could:

1) Get a cheaper car: Simple but effective, and should ensure your motor falls into a more favourable insurance band

2) Install security devices: Add a device to your vehicle such as an immobiliser or car alarm. Plus always try and park somewhere secure, like a private garage

3) Pay a higher excess: This is the sum paid by you as the first part of a claim - raising the voluntary excess can reduce premiums

4) Undertake an advanced driving course: What you spend on the initial expense (£200, for example) will more than be recouped in cheaper insurance premiums eventually