Car insurance costs more for young drivers

Fri, 03 Apr 2009

It has been suggested by a price comparison website that cheap car insurance could be a thing of the past.

According to a study conducted by Tescocompare.com, younger drivers today tend to own cars at an earlier stage in their life and generally have better models as their first cars than their parents did. The research also found that these days two-thirds of drivers between the ages of 18 and 24 have upgraded their first car to a better model within two years.

Debra Williams from Tescocompare.com, said: "Clearly young drivers are lucky to own cars at a younger age and driving something more modern and reliable. But the fact that the vehicles they typically drive are higher in value could have an impact on the cost of their car insurance ."

Recently, the AA revealed that the first three months of the year could be the best time to buy car insurance as companies deliberately keep their prices low in an attempt to attract renewal customers.
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