Those looking for cheap insurance for young drivers are likely to be confused about whether they can anticipate any stabilisation in the market this year, following 2010's record rises in the cost of premiums.
However, a spokesperson from one cheap quote comparison website indicated that, contrary to the popular view, it was not all doom and gloom for those seeking cheap insurance for young drivers. "Whilst costs are undeniably still rising, there is evidence that the rises are starting to lose momentum," he said.
Adding, "Despite the hefty annual increases, price rises declined for the second quarter running. Comprehensive policies rose by an average of 6.9% between October and December with TPFT ones increasing by 9.2%."
However, the motor cover specialist indicated that he believed any improvements in the availability of cheap car insurance for young drivers would not come yet, despite an official investigation into the issue.
"The investigation into insurance costs for young drivers is a clear sign that escalating costs and their implications are being taken seriously, but it seems there is no light at the end of the tunnel just yet. The rise in Insurance Premium Tax and rising fuel costs will continue to challenge people financially," he said.