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Young men 'have the most expensive car insurance'
10 June 2008
Young male motorists pay significantly more car insurance than any other demographic, claims a price comparison website.
Research by moneysupermarket.com revealed that teenage male drivers pay on average £861 more than their female counterparts but by adding a parent to their policy or by shopping around they can get a better deal.
Peter Gerrard, head of insurance research at moneysupermarket.com, said: "Young and newly qualified drivers have long been perceived as high risk by the insurance industry and often find it hard to get competitive motor insurance."
Older motorists enjoy much cheaper car insurance with a man in his fifties paying on average £171 less than a man in his twenties, according to moneysupermarket.com.
"Older drivers generally find their cars cheaper to insure so this can make it tough for specialist insurers to offer better value for elderly drivers," said Mr Gerrard.
Over 500,000 vehicles are written off each year, according to insurer Click4Gap.co.uk.
