Young Drivers And Their Parents

According to a car insurance survey many young drivers in the UK start to consider driving and the associated costs, they are disheartened by the prospects of the extremely high expenses involved, including car insurance premiums. So much so they decide to borrow their parent's vehicles so they are able to save money. The age of these motorists can range from early to later twenties.

Car insurance companies do abide by the knowledge that younger drivers are more likely to get involved incidents and because of this will charge a higher car insurance premium. This unfortunately will always be the case and young drivers are painfully aware of this.

Also according to the research, the average cost of running a car for the young driver would be around £250 every month. Again, this is the cost of just 'running' the car i.e. the road tax, car insurance and fuel. This does not include the expense of purchasing the car.

Younger drivers in the end have no choice but to be a named driver on their parent's insurance policy. This is a disadvantage because in the end they will not reap the rewards of their driving experience by being unable to earn their no claims bonus rewards.

Date - 15/09/2006