Industry insiders reveal one method that can cut hundreds in premiums while increasing policy costs
Young drivers face rising car bills as car insurance costs start to rise.
However, the cost for younger drivers is much higher, with motorists aged 17-24 facing bills in excess of £1,000 a year.
According to figures from the Market Comparison, which is based on quotes rather than ABI’s method of using actual policies, the average 17-24 year old pays £1,489 a year for their car insurance, more than three times the national average.
However, car insurance expert at comparison site Julie Daniels revealed that drivers can save more than £350 simply by adding another driver.
According to the site’s data, young motorists who include another named driver in their policy save an average of £368 compared to those who are a single driver. This brings the average premium to £1,121.
Jolie said: “The cost of living crisis and high fuel costs mean that many people are struggling to stay on the road. For young drivers, the cost of insurance can be very expensive. Adding an experienced driver to your policy is a legitimate way to cut the cost as long as they are also driving. Our figures are that young drivers can save more than £350 on car insurance if they add a parent or other experienced driver to their policy.”
The method does not work if you add a young or equally inexperienced driver but adding a more experienced driver such as a parent can help. However, it is important for families to be honest about who will actually be driving the car or they risk committing insurance fraud known as the front end, which can have serious consequences for both drivers.
The confrontation involves naming an older and more experienced motorist as the main driver in politics, when in reality, the less experienced person will do most of the driving.
If a young driver is caught up front, his policy could become invalid, and he could face criminal prosecution.
Jolie added: “It is imperative that all information provided to your insurance company is accurate. Young drivers should take care to avoid confrontation as they could land their parents with a criminal record and an unlimited fine and six penalty points.”
While young drivers will always face higher insurance bills, there are also other tricks to lower insurance costs, which you can read all about in our guide here.