Oscar Wilde once said: “Experience is one thing you can’t get for nothing”, and when it comes to experience behind the wheel, young drivers certainly pay for it.
With perhaps the highest car insurance premiums of any group of motorists, teenage and young drivers might feel a little hard done to when it comes to the cost of cover. In fact, recent research said young drivers think the insurance industry is “greedy and corrupt”.
But there’s a reason young drivers’ car insurance is so expensive. You won’t get cheap car insurance if you have little experience, and you can’t get more experience unless you get on the roads – forcing young drivers to pay up.
Things could change in the future as the government takes steps to bring young drivers’ insurance costs down (more on that later) but in the meantime, here’s a closer look at why car insurance for young drivers is so expensive.
