Cheap car insurance news
30/05/2007
Young driver car insurance will cost £3,000 by 2017
The average young driver car insurance premium could hit £3,000 within the next 10 years if current pricing trends continue, according to uSwitch.com.
The prediction comes after it was revealed car insurance companies have raised their premiums for 17- to 21-year-olds by 92 percent in the past decade. A similar increase in rates between 2007 and 2017 will see young drivers paying as much as £3097 to insure a Ford Fiesta, according to the online car insurance comparison site.
"Young drivers do get a raw deal when it comes to insuring their cars," said uSwitch's head of insurance.
"While they are typically deemed a more risky group of drivers because of their lack of experience on the roads and prevalence of dangerous driving, unfortunately all young people, even if they are sensible drivers, get tainted with the same brush."
Young driver car insurance rates are much higher than average because these motorists account for a disproportionate number of accidents on UK roads. Today, young drivers occupy just 4.2 percent of the insurance market - yet they are responsible for 16 percent of all motoring offences.
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