Young driver report

Car running cost for young drivers | Compare the Market

When looking to get on the road, car insurance is just one of the many costs that can affect how much goes out every month. Using where you live and what vehicle you have, our tool helps you find out how much driving is likely to cost you.

Car running cost for young drivers | Compare the Market

What is your postcode?

Car running cost for young drivers | Compare the Market

What is your current premium cost?

Car running cost for young drivers | Compare the Market

What is the value of your car?

Car running cost for young drivers | Compare the Market

What is your age?

Use tool

How to cut the costs for young drivers 

The cost of running a car has increased over the past six months by an average of £163, but there are ways young drivers could cut their costs: 

  • Choose a cheaper car to insure - the car you drive can have a big impact on your insurance, with some models offering lower premiums. For example, to insure a Citroen C1 Feel Vti 68 you will be paying out £663 per year, this is an annual £93 saving compared to insuring a Ford Ka Zetec which costs £760 per year. 
  • Consider a black box policy - the cost of car insurance in the UK has risen by £92 (9%) from the first half of 2021 and annual prices now sit at £1,154. But telematics policies are on the rise and can help reduce the cost of premiums for sensible young drivers. The device is installed into your car and it monitors factors such as your speed, acceleration and braking. 
  • Reduce your mileage - the cost of fuel has increased from £1.32 to £1.44 per litre in the past six months. By considering how much you need to drive, and consequently refill your tank, you can reduce your outgoings. 
  • Avoid modifications to your car - you can reduce your premium by avoiding any modifications to your car, as this impacts premiums.
  • Add a (responsible) named driver - you can cut the cost of your premium by adding an experienced driver, or someone with a low risk occupation, as a second named driver if they share your car. Be aware that it is illegal to state that someone is a main driver when that isn’t in fact true.
  • Shop around - you can get a great deal by comparing quotes with our comparison tool. The cheapest annual premium typically available costs £925, so if young drivers switch to this when their policy is due for renewal they can save an average of £229 per year.

Alex Hasty, director at comparethemarket.com, expanded upon this topic:

"Young people will be concerned the cost of driving has risen so dramatically, adding to the financial pressure many are under. Both insurance and fuel costs have jumped significantly over the last six months, meaning that even if people save the money to buy a car, it will be a significant challenge to afford the ongoing running costs.."

ENDS