Young men pay more for car insurance, study reveals

Tue, 10 Jun 2008

Men in their 20s pay 41 per cent more for their car insurance than those a decade older, new research shows.

According to a study by Moneysupermarket.com, the average car insurance quote for a 20-something man was £370, £108 more expensive than their older counterparts.

However, Peter Gerrard, head of insurance research at the firm, believes that there are still things that young men can do to cut their premiums.

Mr Gerrard said: "There are ways they can cut their insurance costs, such as adding a parent to their policy or looking at specialist insurers who target young drivers.

"It's also clear that insurers view women as far more mature motorists at an earlier age."

Shopping around for the best car insurance deal each year is the best way to make sure that people are not paying over the odds, he added.

Yesterday, uSwitch.com claimed that people could save money by paying their car insurance premium annually, rather than monthly.
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