Is your car your pride and joy, or are you ready for a change? Let us know and you could win a £300 John Lewis voucher | No thanks

Young drivers 'can cut insurance costs'

Tue, 10 Jun 2008
Young and newly qualified drivers are being advised how to cut car and van insurance costs by an industry expert.

The advice comes as research by comparison site has shown that there are huge discrepancies in the price of cover depending on a driver's age and gender.

Young male drivers fare the worst, according to the study, as a twenty-something man will pay 16 per cent more on average than a woman of the same age.

The analysis looked at more than 12 million car insurance quotes over the past year and concluded that the biggest difference was between teenagers - an 18-year-old woman will pay £861 less on average than an 18-year-old man.

Peter Gerrard, head of insurance research at, said: "There are ways [young and newly qualified drivers] can cut their insurance costs such as adding a parent to the policy or looking at specialist insurers who target young drivers."

Meanwhile, a study by comparison site has revealed that the annual motoring costs for UK drivers have risen by £500 in the past year.

If you want to know how to find the best deal for your car insurance, finance or warranty click here.ADNFCR-1081-ID-18631484-ADNFCR


Add a comment


Ask Honest John

Value my car

Amount to borrow
Sorry. The minimum loan amount is £1000
To pay back over

My credit score

Best available rate 9.20%

Total repayment £8,930.17

Total cost of credit £1,430.17


48 monthly payments

Apply now

Representative example

Borrowing £7,500 over 4 years with a representative APR of 25.4%, an annual interest rate of 25.4% (Fixed) and a deposit of £0.00, the amount payable would be £239.77 per month, with a total cost of credit of £4,008.96 and a total amount payable of £11,508.96.

CarFinance 247 Limited is acting as an independent credit broker

Universal Square, Devonshire Street North, Manchester, M12 6JH