It seems that driving without insurance has been a fad – and not in a good way – among young drivers as the number of young drivers convicted for driving without insurance has doubled in the past two years. And according to a new report, the rising cost of insurance premiums is to blame.
According to a recent This is Money report, in 2023, 6,316 drivers aged 17 – 20 were convicted of driving without insurance – a 117% jump from the official figures of 2021, which stood at 2,902. This was also up by 15% compared to 2022, which saw 5,486 convictions.
For young people, ages 17 – 20 to go behind the wheel and start driving in year one, they need to shell out £7,609 just for their cars to get insured, according to data from the Money Supermarket’s Household Money Index. This issue is also blamed for triggering the steady decline of young drivers obtaining driver’s licences. According to the latest data, the proportion of 17–20-year-olds with a driving licence substantially declined from 37% in 2018 to 27% in the past years.
Meanwhile, data from the Independent shows that the car insurance premium went up by 25% in 2023, or with £543 average annual premium.
Moreover, licences riddled with penalty points also contribute to the heftier price tag among young drivers. Independent Advisor Car Insurance data stated that young drivers face premiums up to 457% higher on average than older drivers if convicted of traffic violations.
Based on the current data, driving under the influence of alcohol is the costliest, with 18-year-old offenders being charged over four times their insurance costs, paying £17,978.24 in fines compared to “clean” ones who were charged £4,121.
Dangerous driving costs young drivers without car insurance £17,786 or 331% higher than their peers with clean driving records, according to data.
On the other hand, driving without valid insurance bumps up insurance premiums for 18-year-old drivers by £5,156, and convicted young drivers are expected to shell out around £9,278 for car insurance yearly, or almost twice as much as those with a clean record (£4,121).
Aside from these violations, failure to comply with traffic signals, using a mobile phone while driving and careless driving also cost 18-year-olds annual insurance premiums of £6,158. New drivers of the same age could have saved around £2,036 with a clean driving record.
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