Car insurance for teenagers is even pricier than the already expensive premiums that plague many motorists. In fact, teenagers aged 17 to 19 years pay the most out of any age groups with the average fully comprehensive premium coming to around £1306 each year*.
Unfortunately, one in five drivers are involved in a crash during their first year on the road. Admittedly, not everyone learns to drive when they turn 17, but statistics show that teenagers are 19% more likely to be involved in accidents than older, more experienced drivers.
This is why young drivers tend to pay the most for their cover, because if you have an accident you will usually make a claim or have a claim made against you, and insurers offset the increased risk of a claim with higher premiums.
The EU Gender Directive
Male teenage drivers have historically been stung with more expensive premiums and ended up paying more for cover than their female counterparts. That’s because statistics show young male drivers are involved in more accidents than young female drivers.
This all changed after a 2012 overhaul to the way insurers are allowed to price their policies, which stopped them using gender as a factor and discriminating based on whether you’re a man or a woman.
In an ideal world, this would mean men’s premiums would drop to the levels previously enjoyed by women, but in reality it has made cover for women more expensive.
The high cost of car insurance for teenagers
We’ve seen the cost of motoring climb over the past couple of years thanks to rising fuel prices and insurance costs.
As well as the introduction of the EU Gender Directive, we’ve seen the introduction of Continuous Insurance Enforcement legislation, which means even vehicles not being used must be insured, unless they are declared as off the road with a Statutory Off Road Notice (SORN).
Anyone found to be keeping a vehicle without insurance and a SORN declaration can receive a fixed penalty notice of £100 or face fines of up to £1,000.
MoneySuperMarket research found that two thirds of drivers are changing their driving habits to cope with the rising costs, while five per cent have given up driving altogether.
But there are still people who continue to flout the law and drive without car insurance, and it’s pushing up costs for the rest of us. The Motor Insurers Bureau says that uninsured drivers cost insurers up to £500million a year, adding £30 to average, law-abiding motorists’ premiums.
This makes it more important than ever to shop around to get the best possible price on car insurance for teenagers.
How to get cheap car insurance for teenagers
- Don’t take shortcuts on your cover to get a more affordable quote, this can prove a false economy if it comes to making a claim.
- Take an advanced driving course such as Pass Plus as you will look like a more responsible driver in the eyes of some insurers. High premiums offered to teenage motorists reflect inexperience on the road, so more experience should be rewarded with cheaper cover.
- Adding an older or more experienced driver to your policy as a named driver can bring down your premiums in some cases – 35% of young drivers have a named driver.
- You should never set up a policy with an experienced driver as the main driver if you’re really the main driver. This is called fronting, is illegal and could invalidate the policy or earn you a conviction for driving without insurance.
- When car shopping, the more valuable and powerful a car is, the more it will cost you in insurance: it will be more expensive to repair or replace, and it’s statistically more likely to be in an accident.
- Securing your car with additional security features like steering wheel locks and immobilisers will reduce the chances of it being stolen, and earn you cheaper teenage car insurance quotes.
- Similarly, keeping the car parked in a secure location will also work in your favour.
You can also utilise our young driver car insurance guide to find a more specific guide for people in your age bracket.
Compare car insurance for teens
You no longer need to scour the whole market to find the right car insurance policy for you, because we make it easy for you to seek out the right level of cover at the right price.
With MoneySuperMarket you can compare prices and policies from a wide range of insurers – and choose the policy you want to purchase at the press of a button.
*MoneySuperMarket data. Correct as of September 2017.