Young driver insurance sky high, but keep feet on the ground, buyers told
Posted on August 07th 2008
Recent research in to the cost of car insurance for 17 year olds has revealed sobering differences between the amounts paid by men and women.
For a 17 year old who has just celebrate passing their test, insuring their first car can be an eye wateringly expensive transaction, but men will suffer far more.
Males can expect to pay up to £2,841 per annum for their insurance; almost £1,200 more than females the same age, who can get away with as little as £1,655 per annum.
The figures may come as no surprise to generous parents that have already agreed to fork out for such expenses, but it should be noted that those insuring a young driver should not skimp on other areas.
Often, there is a tendency to make up for large purchases by scaling back on others, but failing to buy caravan insurance could be financially crippling in the long run.
Peter Gerrard, head of insurance research at moneysupermarket.com said: "Younger drivers eager to get behind the wheel this summer may be shocked by how expensive their insurance premiums are.
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