Cheap insurance news
22/04/2009
Car drivers aged 23 are the riskiest
For many young drivers under the age of 25 finding cheap car insurance can be a difficult task because, as a group, 17-24-year olds are the riskiest motorists to insure.
New data analysis from insurance company Virgin Money Motor Insurance has shown that young drivers aged 23 are the most likely to claim on their insurance policy.
The car cover provider looked at over 14,000 claims and found that one in 20 (5%) came from a 23-year-old.
Almost half of all claims are made by under 30's, according to the study, with 17-25-year-olds making 26% of all claims.
A spokesperson for the company said, "The government focus on older drivers and ensuring they are fit to drive is of course sensible, but it is clear that they are not necessarily the greatest risk."
A Hoot spokesperson said, "We look at each renewal request individually and take driving history, and size and type of car into consideration, amongst many other things.
A young driver who chooses a small car and then drives without making a claim for five years will find their renewal quote substantially lower at 22-years-of-age than when they first tried to find cheap car insurance at 17."
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