Drivers suffer fresh blow with 'prohibitively expensive' car insurance as prices spiral to over £3,000
Delaying learning to drive could help young motorists save money
PA
Car insurance prices for young drivers have surpassed the £3,000 mark as costs for all motorists soar to unprecedented heights.
Drivers aged 17 who recently passed their practical test will now be expected to pay an average of £3,075, roughly £1,071 more than last year.
Last year, young drivers paid £2,004 for car insurance while the average cost for a driver with a provisional licence is much less at £726.
Car insurance for recently passed drivers will be more expensive than all other drivers because they are no longer being supervised by someone with experience behind the wheel.
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Some drivers may be forced to pay almost £3,000 for their car insurance premiums
PAHowever, car insurance costs drop by £771 after a year of driving when motoristsare more experienced on UK roads.
Data from Compare the Market found that a newly passed 27-year-old will pay an average price of £1,986 - almost £1,100 less than younger motorists.
Julie Daniels, motor insurance expert at the comparison site, explained that the “significant” increase in the cost of car insurance could make driving “prohibitively expensive” for many teenagers.
Motorists who decided to learn to drive later in life could benefit from cheaper car insurance, she revealed.
While the average premium for a newly passed 17-year-old is over £3,000, the price drops to £2,503 for a 22-year-old.
Due to costs being high for new drivers, the proportion of people learning to drive has steadily declined.
The latest figures from the Department for Transport detailed how just 27 per cent of people between 17 and 20 had a full licence in 2022, compared with 37 per cent of the same age group in 2018
Daniels added that as the cost of car insurance continues to rise, it may force some young motorists to delay learning to drive.
Research from Compare the Market found that drivers could benefit from cheaper premiums if they decide to learn in their 20s instead.
Experts have called on motorists to choose a telematics policy to reduce their premiums by using technology to monitor the performance of the driver.
Having a telematics policy could help reduce premiums in the long run as it monitors how safe a driver is in a vehicle.
The policy, also known as black box insurance, provides more accurate risk pricing and may reduce premiums for those who demonstrate that they are safe drivers.
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Car insurance drops £771 a year after passing a test for new drivers
GETTYInsurers use the data from black boxes to create a driver score, which demonstrates how safe they are behind the wheel.
If someone receives a high score, an insurer will interpret this to mean they are a safe driver. This score can be key when renewing a policy as it could help lower insurance prices.