Young drivers ARE NOT the most expensive to insure – in fact, older motorists pay higher premiums even if they have fewer accidents
- Motorists aged 30 to 35 pay the lowest premiums, according to comparison firm Uswitch
- Drivers in their late 80s have the highest insurance costs, but the fewest accidents
The cost of car insurance can increase by more than 300% depending on your age, with older motorists paying the highest costs.
The cheapest annual premiums are paid by 30-35 year olds, according to comparison firm Uswitch. This age bracket costs an average of £503 in car cover costs.
The most expensive car insurance bill of £2,063 a year is for people over 86 – 310% more than those in their early to mid-30s.
Meanwhile, drivers aged 17 to 24 are the fourth most expensive group to insure.
Not just a number: your age can have a big impact on your insurance premiums, but young drivers don’t pay the highest costs
It is easy to assume that this difference in premium reflects the different probability of these age groups having accidents.
But Uswitch figures show the 30-35 age group actually had the second highest number of car crashes over a 12-month period (25,235).
In contrast, drivers over the age of 86 had the fewest crashes in 2021 (979).
Young drivers are generally considered the most difficult and expensive to insure, as they have the least driving experience combined with a youthful tendency to take risks.
Research found there was some truth to this, as the 17-24 age group has the most accidents – 25,689 per year.
But they pay premiums of £808 a year which, although high, is only the fourth highest annual average.
| age range | Average premium | Annual accidents | ||
|---|---|---|---|---|
| 30-35 | £503 | 25,235 | ||
| 25-29 | £552 | 19,206 | ||
| 56-60 | £573 | 10,529 | ||
| 51-55 | £577 | 12,729 | ||
| 46-50 | £578 | 13,409 | ||
| 41-45 | £580 | 13,893 | ||
| 66-70 | £588 | 4,419 | ||
| 61-65 | £590 | 7,292 | ||
| 36-40 | £629 | 16,602 | ||
| 71-75 | £712 | 3,624 | ||
| 17-24 | £808 | 25,689 | ||
| 76-80 | £1,190 | 2,495 | ||
| 81-85 | £1,407 | 1,547 | ||
| 86+ | £2,063 | 979 | ||
| Source: Uswitch | ||||
Uswitch insurance expert Leoni Moninska said: “There are many factors affecting car insurance that you cannot easily control, such as your age, years of driving experience and where you live. residence.
“Car insurance premiums can start to rise as you get older because insurers generally consider older drivers to be high-risk individuals. To reduce the cost of premiums, limit your annual mileage. By keeping your mileage as low as possible, you’ll spend less time on the road. For an insurance provider, this means there is less risk of claims, which will help lower your costs.
“If you are a young driver, one way to cut your costs would be to add a named driver to the policy. You may consider yourself a safe driver, but insurers will put you in a high-risk category if you have recently passed your test, if you are under 25 or have any previous claims or convictions A responsible and experienced appointed driver can help you lower your quote.
