A
comparison website has revealed that 17- to 20-year-olds have seen an 8.2 per
cent annual rise in premiums with the Commons Transport Committee told that
they are being priced off the road.
Turning to fraud
The
research finds that the average price for a premium for a 17- to 20-year-old
during the third quarter of the year was £3,878 when insured as the only driver
– that compares to an average for male drivers in total of £1,006.
For
women the premiums aren’t quite as high – the average was £2,063 for 17- to
20-year-olds. That compares to an average of £907 for women overall.
Overall,
the cost of comprehensive car insurance has increased by 12.3 per cent year on
year and a separate survey by insurance group Young Marmalade has found that
nearly all young motorists asked thought they could not drive because of high
car insurance premiums. A fifth even went as far to say they had considered not
being upfront about the information they give to insurers just to secure a
lower quote.
How to reduce
premiums
Young
drivers feeling the pinch of high premiums should take all the measures legally
possible so they can reduce their costs.
For
example, they should consider the vehicle they drive – generally older cars
with smaller engines and no modifications will earn cheaper premiums. They
should also see if they can complete an advanced driving course following their
test to lower premiums further; and look for rapid bonus schemes that offer a
full year’s no-claims bonus in less than 12 months to new drivers.
Finally, make sure
you’re getting the most competitive quote available by shopping around with a
comparison website and applying car insurance voucher codes.
