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How young drivers can save over £730 on their car insurance

Car insurance for young drivers has always been expensive, but premiums have been on the rise with the average policy for anyone aged 17-24 is now an eye-watering £1,275. But young drivers who only drive occasionally could save themselves £736 by getting insured on their parent’s car insurance policy instead.

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A word of caution…

There’s a fine line between being an additional driver and what’s known as ‘fronting’. Additional drivers must only use the car occasionally. If an additional driver ends up using the car more than the actual policyholder – it’s known as fronting – which is against the law and could invalidate the policy and lead to a prosecution for fraud. 

A cost-effective option

The cost to be added as an additional driver to the policy of a driver aged over 30 would set young drivers back £539 on average – a mere drop in the ocean compared with the £1,275 figure – which equates to steep rise of 12.5% over the last year.

The average cost of cover for a thirty something is £441, even by adding a young additional driver at the average cost of £539, the policy would still be less than the average cost to insure a 17-24 year-old in their own name.

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Our Head of Motor, Dan Bass said:

“For those who want to get on the road but struggle with the huge premiums associated with being a young driver in the UK, becoming a named driver on a more experienced driver’s policy is a very cost-effective option. Average annual motor insurance premiums have reached unprecedented levels which is unaffordable for a large portion of that age-group.”

Comparing car insurance

So whilst there are short term benefits, becoming a named driver does have its drawbacks and it’s important to consider all the consequences before opting for this. But for those young drivers who use their cars regularly and need a policy of their own, you can still save some money by comparing car insurance deals with our car insurance comparison service. For more useful information and guide for young drivers, check out our young driver’s hub.

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