Latest News Reveals Young Drivers Spending More Than 18% of Their Annual Salary on Car Insurance

May 23, 2012 has revealed young drivers are paying an average of £2,499 for their annual comprehensive car insurance. Meanwhile the older generation are statistically the cheapest to insure, with average premiums costing an average of just £440 per year for 66-70 year olds, the equivalent of around £1.20 per day.

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Older drivers are currently enjoying the lowest premiums, with drivers aged 71+ paying an average of just £436 per year. A combination of driving experience, likelihood to travel shorter distances and owning lower-powered cars can make older and retired drivers statistically a lower risk, despite the possibility that their reactions could be slower due to age.

Average costs dip significantly for drivers aged 36-40 with the average price coming in at £597, but rise dramatically again for 46-50 year-old drivers who pay an average of £733.

Gareth Kloet

There are however tips for younger drivers who are looking to reduce their car insurance costs which includes choosing a smaller and lower powered car, installing a telematics device and considering excess protection but as with any product or service, it pays to shop around for the best price by using a comparison site such as


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September 2004

Sarah Wenham


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