2023 was particularly harsh on young drivers, with premiums soaring by over 50% as the cost-of-living pressures took effect.
The sky-high cost of learning to drive combined with these higher insurance premiums and new emissions costs for older cars, are all making it a struggle for young drivers to get on the roads.
Data shows the average car insurance premium for young 18-year-old drivers increased to £1207 in 2023.
The experts at Quotezone.co.uk have revealed ten savings hacks to help young drivers give their finances a fresh start for the new year.
One of the most important things for young drivers is to be safe and avoid penalty points, a fifth of convicted drivers in the UK have been driving for a year or less – according to a sample of over 15,000 convicted drivers, analysed by Quotezone.co.uk.
Penalty points on a licence may not only result in a steep fine but will also bump up the insurance costs. Drivers can expect premiums to rise by 5% for three points and 25% for six points if they’re starting from a clean licence.
Young drivers or those with penalty points may be able to get cheaper insurance by opting for a telematics policy, or black box insurance.
Black box insurance starts collecting data on their driving immediately, if they’re a safe driver, this can help the insurer see them as less of a risk and may result in a more competitive price. Although, like all premiums this year, prices are on the rise, in 2023 telematics was still able to save young drivers an average of £75 annually.
| Age group 18-24 | NO telematics | YES telematics |
| 2021 | £1199 | £938 |
| 2022 | £1047 | £1050 |
| 2023 | £1230 | £1155 |
Quotezone.co.uk CEO Greg Wilson said: “Young drivers had a tough 2023 with delays to driving tests and backlogs for lessons plus the rising cost of everything associated with motoring – insurance, repairs, fuel – we’re hoping 2024 is a much better and cheaper year for those new to the road.
“There are lots of things young drivers can do to help bring the cost of driving down, from knowing how to avoid even the most unusual fines and penalty points to installing a black box and keeping modifications and mileage to a minimum.
“We’re researched the top 10 ways we think will help young drivers save in 2024 along with the essentials such as shopping around and comparing product details, annual payments if possible and reviewing when exactly is the best time to buy, normally three weeks before the policy is due for renewal is the most competitive.
“Passing your test and taking to the road for the first time is a rite of passage and it would be worrying if new drivers started to struggle to make driving a reality due to cost, hopefully our money saving tips go some way to making a more affordable 2024.”
Quotezone.co.uk’s Top ten hacks that could help young drivers save:
1. Do check your mileage
When taking out insurance, you will be asked to estimate your annual mileage. The costs will rise in incremental bands so the more miles you drive, the more you pay so try to be accurate and realistic with your prediction.
2. Do park in a safe place
Car owners that make use of their garages, driveways or carports for overnight parking could make big savings on their car insurance – parking on driveways rather than on the road can save you over £140 on average every year and carports could save you even more, with £230 savings on average.
3. Do consider switching to a smaller engine
Be sure to check your vehicle’s engine size and horsepower, both can impact the cost of your premium. Also, some small engines are turbocharged and that can give them more power than might be expected, which will likely cause the premium to increase.
4. Do keep modifications to a minimum
It comes as no surprise that adding a custom exhaust or putting in lowered suspension might cause insurance premiums to rise, but even seemingly innocuous changes such as adding branding to a vehicle can affect the cost.
5. Do consider a black box
A telematics policy, or black box insurance – starts collecting driving data immediately, this can help the insurer with their risk analysis, safer driving increases the chances of a competitive price for young drivers.
6. Don’t over pack the vehicle
Packing items above the seat line will impair vision, while heavy loads are likely to affect a car’s handling and stopping distances. Overloading a car past its capacity is a punishable offence, with a fine of up to £300 and 3 points. Driving without full visibility out all windows is also punishable and could result in a £50 fixed penalty.
7. Don’t forget your sunglasses
Sunglasses are labelled with a ranking from zero to four in order to determine their strength and the time of day they can be worn. The average pair of sunglasses is categorised as a number two – these are recommended for daytime driving. Driving with inappropriate eyewear could be detrimental to other road users, leaving drivers unable to detect dangers. Motorists could be hit with a £100 on-the-spot fine and up to three penalty points for driving without due care or attention.
8. Don’t use the wrong fuel
Misfuelling is one of the most expensive mistakes motorists make. Pumping diesel fuel into a petrol car can lead to engine failure, leaving motorists to pick up the maintenance costs. Rule 97 of the Highway Code states before drivers set off, they should ensure they have ‘sufficient fuel or charge for your journey, especially if it includes motorway driving’. Careless or dangerous driving caused by low fuel will see motorists face fines of up to £100 and three points on their license.
9. Don’t leave the car switched on while waiting for friends
‘Idling’ or leaving the engine running unnecessarily while stationary on a public road goes against Section 42 of the Road Traffic Act. Drivers risk a £20 penalty notice that will double if not paid in full within 28 days. According to research conducted by Quotezone.co.uk, almost 11% of drivers fail to turn off their engines while waiting.**
10. Don’t splash pedestrians
Splashing pedestrians is actually illegal under section three of the Road Traffic Act, 1988 – and is considered to be driving ‘without reasonable consideration for other persons using the road’ – resulting in a fine of £100 and three penalty points on the licence, in some cases, fines can reach as much as £5,000 for driving without reasonable consideration for others on the road.
Quotezone.co.uk can help if you’re looking for learner drivers or young drivers insurance. If you live in Northern Ireland, CompareNI.com can help.
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