Why is young driver insurance so expensive?
Young drivers face expensive insurance premiums because they’re far more likely to be involved in a car accident than older drivers. This is supported by research from Brake, the road safety charity, which shows that 23% of 18-24 year olds crash within two years of passing their driving test, while drivers between the ages of 16 and 19 are a third more likely to have a fatal accident than those aged 40 to 49.
According to Brake, this increased risk is due to a mix of inexperience, overconfidence and risky behaviour. They found that young people were more likely to speed, overtake on blind bends, not wear a seat belt and drive while under the influence of drugs.
Other factors include peer pressure – it’s tempting to show off in front of a car full of friends or become easily distracted by antics. Young people tend to socialise at night and this is when many accidents happen, especially between 2am and 5am.
As a consequence, insurance providers see young drivers as particularly high risk, and therefore more likely to claim against their insurance. All this means these premiums are higher than average.