Young male drivers pay €2400 for insurance Irish Examiner
A survey by AA’s insurance division found that while women under 25 are paying an average of €1,357 for their car cover, men are paying €2,373.
The authors of the report said overall, men are paying between 20% and 25% more for insurance than a female of the same age.
The company looked at 200 quotes from 12 insurance providers and found that the overall average motor premium for a male aged 25 to 45 years old is now €589, up 3.5% since the start of the year. The average cost for a female driver is €487, up by just under 5% on the figure for January.
The differential between the sexes is, according to AA, not just because of accident rates but also reflects the fact that statistically males are higher mileage drivers than females and are therefore more exposed to risk.
"There is no doubt that the trend is for rising prices at the moment, and that is clear across all insurance companies." said John Farrell of AA insurance services.
It is well known that young drivers are perceived to be high risk when it comes to accidents.With an increasing number of accidents involving young drivers aiding in pushing up premiums for the rest of the insurance world, the stigma associated with young people on the road seems sure to continue.Naivety and lack of judgement can often lead to incidents, and research suggests that being involved in a car crash came top in a list of causes of death for those aged 15-20.Because of the stigma surrounding certain age groups, finding affordable car insurance can be a nightmare experience for those who’ve only just passed their tests.With many car insurance companies wary of insuring young drivers because of the risks involved, finding a quote for the first time to cover a newly-qualified driver can be a very costly process. Many will simply refuse to insure those at-risk groups and focus on specific types of customers.However, there are a couple of steps that can be taken to try and reduce first-time premiums for new drivers:By taking a Pass Plus course after passing their driving tests, young drivers have the opportunity to gain experience in areas such as night-time driving, motorways and driving in bad weather conditions. Many insurers will take Pass Plus qualifications as part of the application, and it could help with the quest for cheap car insurance.Make sure their first car is not too expensive and/or powerful – while it may not be the hot-rod they were expecting, it can help to save money in the long term. And the more careful the driver, the more no-claims bonus can be accumulated, leading to a drop in premium prices in future.It’s advisable to compare car insurance premiums carefully when searching for affordable quotes, and also for renewals – for many insurers may not offer incentives for loyalty.
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