In the United Kingdom, younger drivers paid more on average for their car insurance than older drivers in 2022. A driver who is around 20 years old would be charged roughly 850 British pounds whereas a driver in their 30s would be charged an average rate of 639 GBP. This higher premium stems from the idea that young drivers engage in more risky driving behavior, such as drink driving, and therefore pose a higher risk to insurance companies.
Young drivers pay more, but also tend to have more coverage
Prices of different car insurance cover plans in the UK decreased slightly between 2017 and 2020, except third party only plans which have increased in price since 2019. Third party, fire and theft plans overall had higher premiums than comprehensive plans. This, however, is because the basket of risks reflect the type of driver that buy such cover, which is typically young drivers.
Average car insurance cost in the United Kingdom (UK) in 2022, by age
(in GBP)
Values are the average Comprehensive Car Insurance Cost for a Ford Fiesta.
To obtain the values, the source collected comprehensive car insurance quotes and averaged the 5 cheapest quotes to reflect costs for a range of policies at the low end of prices. For standardization, the driver is an unmarried male who owns a 2019 model car and has been driving since 18 years of age, hasn't filed any claims, has accumulated up to 5 years of NCD (No Claims Discount), drives 5,000 miles per year and parks in a private driveway. He works indoors as a professional.
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NimbleFins. (October 13, 2022). Average car insurance cost in the United Kingdom (UK) in 2022, by age (in GBP) [Graph]. In Statista. Retrieved September 20, 2024, from https://www.statista.com/statistics/751199/average-car-insurance-cost-by-age/?_sm_au_=iVVk6sZ03WwjSqDNW2MN0K7K1WVjq
NimbleFins. "Average car insurance cost in the United Kingdom (UK) in 2022, by age (in GBP)." Chart. October 13, 2022. Statista. Accessed September 20, 2024. https://www.statista.com/statistics/751199/average-car-insurance-cost-by-age/?_sm_au_=iVVk6sZ03WwjSqDNW2MN0K7K1WVjq
NimbleFins. (2022). Average car insurance cost in the United Kingdom (UK) in 2022, by age (in GBP). Statista. Statista Inc.. Accessed: September 20, 2024. https://www.statista.com/statistics/751199/average-car-insurance-cost-by-age/?_sm_au_=iVVk6sZ03WwjSqDNW2MN0K7K1WVjq
NimbleFins. "Average Car Insurance Cost in The United Kingdom (Uk) in 2022, by Age (in Gbp)." Statista, Statista Inc., 13 Oct 2022, https://www.statista.com/statistics/751199/average-car-insurance-cost-by-age/?_sm_au_=iVVk6sZ03WwjSqDNW2MN0K7K1WVjq
NimbleFins, Average car insurance cost in the United Kingdom (UK) in 2022, by age (in GBP) Statista, https://www.statista.com/statistics/751199/average-car-insurance-cost-by-age/?_sm_au_=iVVk6sZ03WwjSqDNW2MN0K7K1WVjq (last visited September 20, 2024)
Average car insurance cost in the United Kingdom (UK) in 2022, by age (in GBP) [Graph], NimbleFins, October 13, 2022. [Online]. Available: https://www.statista.com/statistics/751199/average-car-insurance-cost-by-age/?_sm_au_=iVVk6sZ03WwjSqDNW2MN0K7K1WVjq