Young drivers see car insurance premiums rise

Mon, 29 Nov 2010

Car insurance premiums for young drivers have soared over recent months.

Writing for the Daily Mail, Stephen Womack observed that premiums have risen by a staggering 51 per cent over the past year.

In fact, some insurers have pulled products aimed at young drivers, adding to the pressure on rates.

According to AA Insurance, male drivers aged between 17 and 22 pay an average of £2,500 for car insurance .

Meanwhile, women in the same age group pay about £1,400.

"Male drivers aged under 21 are ten times more likely to have an accident than men aged 35 or over, says the AA, while female drivers aged under 21 are five times more likely to be in a crash than women over 35," Mr Womack noted.

"And younger drivers have more expensive accidents because of higher speeds and the greater chance of personal injury ."

It is little wonder then that insurers are running scared, he concluded. 
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