Car insurance premiums skyrocket by £2k for drivers born in certain year

Motorists are being hit with steep increases in car insurance premiums. Compare the Market's data shows that the average cost for a 17 year old driver's insurance is now at £3,075, marking an increase of over £2,000 from last year's figures.

Julie Daniels, a motor insurance specialist at Compare the Market, cautioned: "The significant increase in the cost of car insurance could make driving prohibitively expensive for lots of teenagers. And as the cost of car insurance continues to increase, it may force some potential young motorists to delay learning to drive."

Paul Daly, director at InsureDaily.co.uk, highlighted industry trends: "Interestingly, the industry seems to have managed to reduce personal injury claims (down eight percent) by bringing in new legislation in recent years that restrict claim amounts, but things like excessive costs for hire vehicles during repair periods (up 35 percent) still need addressing."

He also noted that while these surges are largely beyond individual control, drivers can still take steps to mitigate their own insurance costs, reports Birmingham Live.

"We are all being robbed blind, companies trying -and succeeding- to get the money they lost during the pandemic. No longer is it a competition to charge the least now a competition to see who can charge the most and get away with it. Car insurance was increased by £300, it was claimed to cover admin costs, admin that is mostly done by computers that never get a pay rise," fumed one motorist.

A second concurred, stating: "And the more risk you pose the higher it is young drivers are more likely to make a claim than older. So we won't be too surprised when the number of uninsured drivers goes up 'AGAIN'? Current uninsured vehicles according to the Motor Insurance Bureau on UK roads are around 1 million which increases each time insurance premiums goes up."

Another motorist chimed in: "You should be offered a 'no hire car' discount, just like larger excess and trackers usually offer a discount."

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