Young drivers AREN’T the most expensive to insure – in fact older motorists pay higher premiums despite having fewer accidents
- Motorists aged 30-35 pay the lowest premiums, comparison firm Uswitch says
- Drivers in their late 80s have the highest insurance costs, but the least crashes
The cost of car insurance can rise by more than 300 per cent depending on your age – with older motorists paying the highest costs.
The cheapest yearly premiums are paid by those aged 30-35, according to comparison firm Uswitch. This age bracket average £503 in car cover costs.
The most expensive car insurance bill of £2,063 a year is faced by those over the age of 86 – 310 per cent higher that those in their early to mid-30s.
Meanwhile, 17 to 24-year-old drivers 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 do not pay the highest costs
It is easy to assume that this premium difference reflects the different chance of these age groups having crashes.
But Uswitch figures show the 30-35 age bracket actually had the second-highest number of car crashes in a 12-month period (25,235).
By contrast, drivers over the age of 86 had the fewest collisions in 2021 (979).
Young drivers are typically seen as the hardest and priciest to insure, as they have the least driving experience combined with a youthful tendency to take risks.
The research found there is some truth to this, as the 17-24 age group do have the most crashes – 25,689 a year.
But they pay premiums of £808 a year, which, while high, is only the fourth-highest yearly average.
| Age bracket | Average premium | Yearly crashes | ||
|---|---|---|---|---|
| 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 can’t easily control, such as your age, years of driving experience and where you live.
‘Car insurance premiums can begin to rise as you become older as insurers typically view elderly drivers as higher-risk individuals. To reduce the cost of premiums, keep your annual mileage low. By keeping your mileage as low as possible, you’ll spend less time on the road. For an insurance provider, this means there’s less risk of a claim, which will help keep your costs down.
‘If you are a young driver, one way to reduce your costs would be to add a named driver to the policy. You may consider yourself a safe driver, but insurers will group you into a high-risk category if you have recently passed your test, are under 25, or have previous claims or convictions. A responsible and experienced named driver can help lower your quote.’
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