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Rise in young driver car insurance rates 'outstrips other age groups'

20/02/07

Young driver car insurance customers have seen their premiums rise more than any other age group in 2006, according to the latest figures from a car insurance provider.
 
Research from Sainsbury's Car Insurance for its index of premiums reveals that the average young driver car insurance rate for people aged 25 and under was £1,114.09 in January 2006.
 
However, the car insurance figures indicate that this had increased to £1,178.38 in December.
 
This represents a rise in the typical young driver car insurance rate of 5.8 per cent in 11 months.
 
By way of comparison, it is double the 2.9 per cent hike facing motorists aged between 25 and 40 years old and almost six times as rapid a rise as the one per cent rise experienced by 50 to 65 year olds.
 
Commenting on the figures, Steve Johnson, head of car insurance at financial services provider Sainsbury's Bank, suggested that young driver car insurance customers should always shop around to ensure that they do not get overcharged.
 
"It always pays to keep a close eye on your car insurance premiums and shop around to make sure that you are paying a competitive rate because you could enjoy significant savings of over £100," he said.
 
Motorists who wish to compare the market for young driver car insurance rates may wish to use online price comparison sites.
 
These enable motorists to rapidly compare and contrast car insurance deals from a range of car insurance brokers before settling upon an offer.
 
Looking for a cheap car insurance quote? go to Dial Direct