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Getting out on the road is notoriously expensive for young drivers, but it is possible to take steps that can help to keep costs down.
Some cars are cheaper than others, but it may also surprise you to hear that the most popular cars among young drivers are not necessarily the cheapest.
New figures from MoneySuperMarket, based on four million enquiries for insurance from 1 April 2018 to the end of March 2019, found that the Vauxhall Corsa is the most popular vehicle.
Other favourites among drivers aged 17-20 include the Ford Fiesta and the Volkswagen Polo, although the cheapest of the most popular cars to insure are the Fiat 500 and Ford KA.
The Fiat 500 costs an average of just over £470 a year to insure, while insuring a Ford KA will set you back £644 for a year of cover.
In comparison, it will cost an average of £943 for fully comprehensive cover for a Vauxhall Corsa for young drivers aged under 20, while those over 21 can expect to pay 68% less for the same cover on the same vehicle.
The most expensive to insure of the ten most popular vehicles is the Volkswagen Golf, followed by the Vauxhall Astra and Seat Ibiza.
All three vehicles typically cost more than £1,000 for fully comprehensive cover, with the Golf and Astra topping the £1550 mark.
It also means there is more than £1,000 difference between the costs of insurance for some of the UK’s popular cars for young drivers, showcasing why it can pay to be selective when hunting for a car.
Young drivers often face higher premiums as they carry a greater level of risk, according to MoneySuperMarket’s Rachel Wait.
She explained that a high rate of personal injury claims result from cases involving young drivers, which is a factor behind why their policies often cost more.
However young drivers can take steps to bring their outlays down, such as by using a telematics box that records driving habits or by having a higher excess and then separate excess insurance.
Opting for a higher excess often results in a lower premium, although young drivers should ensure that the excess remains affordable, as it would still need to be paid in the event of a claim.
The ten most popular vehicles for young drivers are listed in order below, alongside the average cost of insurance:
Date Created: 03/06/2019