The cause of high prices
Car insurance for young male drivers tends to be disproportionately expensive when compared to older and more experienced motorists, making it virtually impossible for this group to get on the road.
Young male drivers aged between 17 and 19 can expect to pay an average of £1,149 for a fully comprehensive policy. Being a decade older will slash this cost in half, with the average fully comprehensive premium for 25 to 29 year olds costing £787. That’s according to MoneySuperMarket data for quotes run between April and June 2019.
The reason that car insurance for young male drivers is so expensive is because they are statistically more likely to make a claim on their insurance. Drivers who have only recently passed their tests are more likely to have an accident: one in five drivers is involved in a crash during the first 12 months behind the wheel.
In December 2012 it became illegal for car insurance companies to use gender as a factor when pricing insurance
Statistics also show that young drivers are more likely to be the victim of theft, fire and vandalism leading to insurance claims. And evidence shows that while motorists aged under 25 only make up 7% of UK driving licence holders, they were involved in almost a quarter of all fatal road accidents.*
However, young male drivers no longer automatically pay more than their female counterparts - because it’s illegal for car insurance companies to use gender as a factor when pricing insurance. Despite this, there’s a trend for young drivers to see more expensive car insurance quotes – but this is also driven by a number of other factors aside from age.
*Data collected by The Department of Transport in May 2018, accurate as of September 2019
Telematics car insurance
Young drivers who can’t afford conventional insurance premiums may want to opt for a telematics insurance policy. With this type of policy your driving habits directly affect how much you pay for cover – the better you drive the lower your premiums will be.
The insurer monitors your driving habits using either:
- A black box: The most commonly known type of telematics cover, this is when your insurer installs a black box in your car – in a discreet position. It sends data about your driving to your insurer, who uses it to adjust your car insurance premiums
- A plug-and-drive device: Plug-and-drive devices use the same GPS technology, but rather than being a permanent fixture in your car you can just plug it in for when you drive. It can be useful if you share a car or drive multiple cars, as it ensures only your driving data is recorded
- A smartphone app: Telematics apps monitor your driving data through the GPS on your smartphone, so no other device is needed
Telematics monitors things such as acceleration and braking, as well as mileage and what time of day the car is used. The better the driving young motorists can demonstrate, the greater the chance of premium reductions when the insurance policy is renewed.
Other ways to get cheap car insurance for young male drivers
There are plenty of ways that you can reduce the cost of car insurance for young male drivers:
Another thing to compare is car insurance groups. Certain models of cars are cheaper to insure than others, so if you are a young male driver who is thinking of buying a car, you might end up saving money in the long run if you choose a specific model. If you already have a car, check what group it’s in by using our car insurance group checker.
Increase your excess
One way you can reduce the cost of your car insurance is by raising your voluntary excess - the amount you pay up front in the event of an accident. The higher the excess you choose, the lower your premiums will be, but you must ensure that the excess isn’t too steep, otherwise you might not be able to afford to make a claim at all.
Don’t make modifications
Modifying your car by adding alloy wheels, for example, can increase the chances of the car being stolen; this is why modified car insurance prices tend to be higher than the average. If you want a cheap car insurance quote, you should keep any changes to a minimum.
You can reduce your premiums by taking steps to improve your security with insurer-approved security equipment like a steering wheel lock or an immobiliser. Keeping it in a locked garage if possible is also likely to result in lower premiums.
Get extra qualifications
Taking additional motoring qualifications, such as Pass Plus, is one way young drivers can keep down the cost of cover. Pass Plus fees vary, but the cost is usually around £150. If you passed your test more than a year ago, check that you'll be eligible for the discounts on offer from your insurance company before you take the course.
Add another driver to your policy
Adding a more experienced named driver to your policy is a great way of lower the cost of car insurance for young male drivers. However, remember that it is illegal to falsely declare that they are the main driver of the vehicle.
This is known as ‘fronting’ and can not only invalidate your insurance but can lead to a fine and penalty points on your licence, so it should be avoided at all costs.
Pay your premium in full
If you can afford to, you should try to pay for your car insurance in a lump sum rather than paying monthly. Insurers usually impose steep interest charges if you pay monthly, so you can make significant savings by paying upfront.
Compare car insurance quotes
Always shop around to compare car insurance quotes. Don’t just accept your renewal quote as you could be paying over the odds.
Premiums vary widely depending on which insurer you go with, so it’s always sensible to compare a wide range of quotes before choosing a policy; particularly when it comes to getting car insurance for young male drivers. And remember, just because a policy is the cheapest doesn’t mean it’s the best: it’s a false economy to choose a bargain policy without making sure it includes everything you need, as it could cost you more in the long-term.
How to save even more money
The high cost of car insurance for young male drivers, combined with steep fuel costs has had a dramatic impact on young motorists. Recent research by MoneySupermarket.com found that two-thirds of drivers are being forced to alter their driving habits and 5% say that can no longer afford to drive due to increased running costs.
While it’s possible to stretch your budget by comparing car insurance quotes to find the best deal, being wise about your choice of motor could also have a big impact.
If you’re buying a car for the first time, it makes financial sense to choose a model that’s efficient. Put simply, the more efficient your car is, the less you’ll spend on fuel. And if you buy a car with zero CO2 emissions, it’ll help you save on road tax as well.
In April 2017, road tax changed quite significantly. If your car was first registered before 1 April 2017, the older CO2-based system still applies.
If your car was first registered after 1 April 2017, you’ll need to know the new rules:
- Your first year’s rate is calculated based on the official CO2 figures for your vehicle
- After the first year, there is a standard flat rate of £140 for all carbon-emitting vehicles
- Vehicles that have zero CO2 emissions have a rate of £0
- If your car is worth £40,000 or more, an extra £310 charge applies for the first 5 ‘standard rate’ years
For more tips on how to lower your car insurance premiums or find more information specific to your particular age in our guide to car insurance for young drivers.