Young Drivers Feel the Car Insurance Pinch
It's been another expensive year for young drivers, with the cost of car insurance increasing drastically across the board. Indeed, it looks as if, once
again, insurers are placing the biggest burdens upon the under-25s. A brand new quarterly Car Insurance Price Index, conducted in partnership with
EMB, looks at how changes in the market are affecting your pocket, and the results are startling.
So what did it find?
Well, let's start with the good news. 17 to 20 year-olds saw by far the smallest increases in premiums in the last year. Sadly, that's where it ends. The
average driver under 20 will now pay Â£1,610 on their premium, according to the findings; more than three times the average across all categories.
Not only this, it's almost double the rate paid by the next age group - the 21-25's - but that doesn't mean this age bracket have escaped punishment -
far from it. In fact, the average cost of a premium for drivers in this age group soared by 14.8 per cent in 2009, compared with the year before, making
it the biggest increase of any age category.
If you're a 17 year-old boy living in inner London, then you might want to start saving - the findings suggest that you are likely to pay more than anyone
else in the UK for your car insurance. However, the good news for the gents is that the gap between male and female premiums appears to be closing,
albeit at little more than at snail's pace.
Across the UK, the West Midlands saw the biggest overall increases in premiums in the last year at around 18 per cent - however, inner London was
once again not far behind with premiums rising by 17.4 per cent.
Meanwhile, it seems that those looking to escape soaring car insurance costs should head north of the border, with the three smallest rises in
premiums seen in East and North-East Scotland, the Highlands and Islands, and Central Scotland.
...and it gets worse
One thing is clear - prices are increasing across the board, and sadly there is no hiding place with experts suggestin