Young drivers pay £940m more to insure their used cars

Young drivers are paying more than double what other motorists shell out to insure their cars, research by uSwitch.com reveals.

Some young motorists may even find they are prevented from getting cover altogether because of their age, the comparison website adds.

It warns that the car insurance industry could come under fire when the government announces new measures to tackle age-based prejudice in the equalities bill as age is a major deciding factor when insurers price their policies for risk.

Ashton Berkhauer, insurance expert at uSwitch.com, says the bill could mean the end of the road for higher premiums for young drivers.

"Whether the equalities bill impacts young driver premiums or not, the most important thing is to research the cost of insurance before you buy a car," he adds.
"Young drivers must do their homework first and shop around to make sure they find the best cover and policy features to suit their needs and budget."

On average a young driver's car insurance policy costs 69 per cent of the value of their car.

AA Insurance this week urged drivers taking their vehicles abroad to check their insurance policy before leaving the UK.

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