Car insurance premiums fall for young drivers

By Charlotte Whyatt - Thu 7th Nov 2019
Car insurance premiums fall for young drivers

A new report published by comparison site MoneySuperMarket has revealed that the average cost of car insurance premiums has fallen for young drivers. 

They analysed 1.7 million different car insurance quotes to track the fluctuations in price and found that the average cost of premiums has fallen for all drivers aged 17 to 30. 

Those between the ages of 17 and 19 in particular, have seen a drop of 4% which leaves them £41 better off overall. 

On the opposite end of the scale, the average cost of car insurance premiums has unfortunately increased for all drivers 30 and over in the last year.

While motorists aged 30 to 39 have seen a price rise of just 1%, the average cost has risen quite dramatically in higher age brackets. 

Drivers between 40 to 49 and 50 to 64 both experienced a price increase of 5% working out as a nearly £20 price hike for some. 

Men and women aged 65 and over were definitely the worst affected having seen the average price of their car insurance premiums soar by 6%. 

Although they’ve technically fallen in price, 17 to 19 year olds do still have the most expensive car insurance premiums paying an average of £991 for their policy. 

This is over double the price of the average policy which MoneySuperMarket states is currently £459. 

Source: The Sun