How Much Do You Pay For Your Car Insurance?
Added: 16 July 2019
How much do you pay for your car insurance? You may have noticed that the younger you are, the higher the cost. The price of car insurance is mainly based on risk. Unfortunately, younger drivers are more likely to cause an accident and therefore a higher risk on the road. According to GSI Insurance, out of 100 drivers in Britain, fewer than two of those are ages 17 – 19 year old. However, they are involved in more than a tenth of all serious and fatal crashes. Because of this, the cost of car insurance for young drivers is exceptionally high. The average price of car insurance in the UK for all ages is £762. An 18 year old will have to pay an average of £2081, and an average of £1914 for a 19 year old.
There are a number of reasons that the price of car insurance has increased for all drivers over the years. For example, the cost of claims is the highest it’s ever been. According to The Association of British Insurers (ABI), over £23 million is paid out each day. The high level of advanced vehicle technology has resulted to an increase in keyless car crime, theft crime and repair claims. Insurance fraud is also having a major impact on motor insurance costs. According to the ABI, there’s ‘one scam every minute’, costing the industry £1.3 billion. You can probably understand the logic behind it, but does it justify why it’s so pricey for younger licence holders?
Obviously, we understand the importance of road safety but we appreciate that younger drivers can’t always pay the enormous cost of car insurance. There are some ways around this including a black box, or buying a cheaper, lower performing car. Or, you could make the most of our Citroen C1 deal…
For more information, please contact our Richmond Citroën dealership:
Portsmouth: 02392 530 444
We want to help young drivers begin their driving experience without the cost. We’re pleased to be able to offer you a brand new Citroen C1 with the first year of insurance completely paid for! We want younger drivers to be able to afford the luxury of a new car, without the struggle of affording it.