The AA has reported a huge rise in the price of car insurance premiums, with the younger age bracket being hit hardest by the increased costs.
Figures due to be published this week show premiums for 17 to 22-year-olds have risen by 47% in a year – the biggest increase since the AA first began tracking the car insurance market in 1994.
Young male drivers are paying the most, with the average of the three cheapest quotes they get standing at £2,457. The motoring group said that was nearly double the premiums offered to young women.
As a result, many young drivers are being priced out of the market altogether, unable to afford to run a car. For information on how to get affordable insurance for younger motorists, visit the Which? guide to car insurance for young drivers.
Increase in personal injury claims
The record car insurance costs are being blamed on a surge in claims for injuries sustained in accidents, with young men said to be twice as likely to be involved in such incidents as young women.
Simon Douglas, director of insurance at the AA, said: ‘The number of claims is increasing and the number of passengers involved is increasing. Some of that is being driven by no-win, no-fee lawyers. Their numbers have doubled in the last two years.’
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