Average Car Insurance Cost Uk By Age

The abi found that young drivers aged 18 21 pay an average of 973 per year for comprehensive car insurance more than twice the overall average.

Average car insurance cost uk by age. This bears out when you look at average car insurance rates by age. What is insurance group 14 average cost. Teens and young drivers are inexperienced behind the wheel and statistics show they as a class in whole are more likely to be in accident than other age groups which makes them a high. All else equal the cost of car insurance should drop until around age 60.

According to carpages co uk which lists all the prices for cars in group 14 the average price is around 15 000. Between february 2019 and february 2020 the average cost of a fully comprehensive car insurance policy for drivers aged 17 to 19 was 1 028 compared to 1 613 for third party fire and theft and 2 709 for third party only. Average cost of car insurance by age. The age of the car.

This figure represents around 10 of the average young driver salary making car insurance quite burdensome for many young people. Older cars are likely to have less safety and security features often costing more to insure. Car pages group 14. In fact the average cheap quote in our study was 639 for a 35 year old which was 80 less than the price for a 25 year old.

For drivers between the ages of 31 and 70 who experience claims frequencies as low as 7 and claims as low as 2 360 premiums fall significantly. Where is an insurance group prices table for the uk. Published by statista research department nov 6 2020 in the united kingdom uk younger drivers would on average pay more for their car insurance than older drivers in 2020. A brand new audi a3 is likely to cost in the region of 7 000 8 000 to insure.

The age of the car can also be a defining factor in the calculation of insurance premiums. Cheap cars won t always mean lower premiums. There are several sites available that have group price tables for car insurance groups online. Car insurance for people under 25 years of age is typically quite high.

However younger drivers still pay a lot more compared to people in their 50s according to ci s data drivers under 25 often pay an average of 1 544 a year compared to an average 395 for over 50s. Of this group drivers aged between 66 and 70 are the best off paying just 272 for their car insurance which is only around a quarter of the average price paid by 18 20 year olds. With age comes wisdom and lower car insurance rates up to a point. Moneysupermarket says the average cost of annual car insurance from january july 2018 was 514.