Baked beans or car insurance, the choice for young drivers

Us older drivers who have years of experience and, sometimes, the cherry-on-top of a long-standing no claims bonus, can’t help but feel sorry for younger drivers these days.

Not only are they having to pay for the economic extravagance of their forefathers by coming to terms with years of likely austerity, they are also, compared to us, having to pay through the roof for their car insurance.

According to one comparison site, which teamed up with professional services giant Towers Watson, drivers between the ages of 17 and 20 are having to pay an average of £2,500 for their car insurance.

This is a huge figure, but actually pales into comparison besides the average figure for a male driver – £3,635.

Perhaps most shockingly of all, this £3,500 plus figure is actually more than a quarter of the average annual salary for a young man.

Fine enough if you don’t need to drive, but many, such as my nephew, live miles away from bus services and have no choice but to commute to and from work.

All of which makes it more important than ever that customers are shrewd about finding the cheapest car insurance on the market.

Photo © Matski_98, under Creative Commons Licence

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