If you’re under 25 years old, your car insurance will be very expensive because prices are calculated based on statistics and risk.
Government statistics show that 17% of all road traffic casualties were aged 17-24 in 2018.
Your lack of experience will also push up the price. As a young driver, you’re unlikely to have years of no claims bonus proving that you're a safe driver.
It turns out that the stereotype of young male drivers being especially prone to crashing is a bit of a myth – the government statistics show that young female drivers are just as likely to be injured in a collision as young male drivers.
Even if the stereotypes were true, insurers aren’t allowed to offer women’s car insurance cheaper than men’s, so all young drivers pay the price of inexperience, regardless of gender.
The quotes you get depend on your address, your car and the type of cover you go for, plus lots of other factors. Don’t assume that third-party only cover - the most minimal level of insurance - will be cheapest.
If you buy a car with a low insurance group, it will usually cost you less to insure.
Some of the cheapest cars to insure in 2019 were the Citroen C1, the Volkswagen Up!, the Skoda Citigo and the Fiat 500.
As well as the type of car, the insurer will also consider your age, your driving habits and history, where you live and where the car is parked, plus other factors, to calculate your quote.
The right and most cost-effective car for your friends and family won't necessarily be the cheapest for you - your choice should suit your driving habits and budget. Carefully consider how much insurance, petrol, tax and maintenance will cost before you buy.
Comparing different types of insurance will help you find a fairly priced policy.
Start by stacking up the cost and cover offered by fully comprehensive cover, third party only and third party fire and theft policies. Each has a different level of cover - unless you have fully comp, you'll have to pay for your own costs if you're in a traffic accident.
We checked and the average lowest comprehensive insurance quote returned for 18-24 year olds was £1,042. But it was £1,692 for third-party only cover - that’s over £600 more expensive, for less cover!
The good news is that you can expect your insurance to get significantly cheaper with age.
The average lowest comprehensive quote returned for 18 year olds is £1,226 but for 25 year olds it’s much less, at £803.
Your next port of call should be telematics insurance. It calculates the cost of your car insurance by collecting data about your real-world driving. If you're cautious on the road, you'll be rewarded with lower premiums.
Next is short-term car insurance. It'll cover you to drive for just a few hours or for a matter of days. If you need the car to take your possessions to uni and back, short-term cover could be more suitable for you.
Finally, if you're not the main driver and only intending to drive every now and then, compare named driver quotes. If you're the second driver on the policy, it may help to reduce the cost.
It’s tough having to pay so much for insurance during your first few years on the road, but it’s really important that you’re completely honest when you apply for insurance.
Lying about your term-time address if you’re a student, or who the main driver of the car is because your parents occasionally use it, will invalidate your insurance.
The consequences of lying are serious - your insurance will be voided, and you could be prosecuted for fraud.
Up to £250 refunded after claim settled. Car insurance purchases only. Excludes breakdown, windscreen and glass repair/replacement. Full T&Cs apply.
Average cost of comprehensive car insurance where the main driver is aged between 18-24 bought through GoCompare in June 2019