Young drivers ARE NOT the most expensive to insure – in fact, older drivers pay higher premiums despite fewer accidents
- Motorists aged 30 to 35 pay the lowest premiums, says comparison agency Uswitch
- Drivers in their late 80s have the highest insurance costs, but the fewest accidents
Depending on your age, the cost of auto insurance can increase by more than 300 percent — with older drivers paying the highest cost.
The cheapest annual premiums are paid by 30-35 year olds, according to comparison agency Uswitch. This age range costs an average of £503 on car insurance.
The most expensive motor insurance bill at £2,063 a year is paid by those over 86 – 310 per cent higher than those in their early to mid-thirties.
Meanwhile, 17- to 24-year-old drivers are the fourth most expensive group to insure.
Not just a number: your age can have a big impact on your insurance premiums, but young drivers don’t pay the highest costs
It is easy to assume that this premium difference reflects the different accident rates of these age groups.
But Uswitch figures show that the 30-35 age group had the second highest number of car accidents in a 12-month period (25,235).
On the other hand, drivers aged 86 and older had the fewest collisions in 2021 (979).
Young drivers are generally seen as the most difficult and expensive to insure, as they have the least amount of driving experience combined with a youthful tendency to take risks.
The study found that there is some truth to this, as the 17-24 age group has the most accidents – 25,689 per year.
But they pay premiums of £808 a year, which, while high, is only the fourth highest annual average.
| Age limit | Average premium | Annual crashes | ||
|---|---|---|---|---|
| 30-35 | £503 | 25,235 | ||
| 25-29 | £552 | 19.206 | ||
| 56-60 | £573 | 10,529 | ||
| 51-55 | £577 | 12,729 | ||
| 46-50 | £578 | 13,409 | ||
| 41-45 | £580 | 13,893 | ||
| 66-70 | £588 | 4,419 | ||
| 61-65 | £590 | 7,292 | ||
| 36-40 | £629 | 16,602 | ||
| 71-75 | £712 | 3,624 | ||
| 17-24 | £808 | 25,689 | ||
| 76-80 | £1,190 | 2,495 | ||
| 81-85 | £1,407 | 1,547 | ||
| 86+ | £2,063 | 979 | ||
| Source: Uswitch | ||||
Uswitch insurance expert Leoni Moninska said, “There are many factors that affect auto insurance that you can’t easily control, such as your age, years of driving experience and where you live.
Auto insurance premiums can start to rise as you get older, as insurers typically view older drivers as higher-risk individuals. Keep your annual mileage low to reduce premium costs. By keeping your mileage as low as possible, you spend less time on the road. For an insurance company, this means there is less risk of a claim, which helps keep your costs down.
“If you are a young driver, one way to reduce your costs is to add a named driver to the policy. You may consider yourself a safe driver, but insurers will group you in a high-risk category if you recently passed your test, are under age 25, or have previous claims or convictions. A responsible and experienced driver can help you lower your quote.’