Young drivers are considerably more internet savvy that their more mature road users and yet they are not necessarily using their knowledge to save money. Gocompare.com carried out a recent survey and its findings were interesting to say the least. The results drew attention to the fact that those between 17 and 21 were the biggest users of comparison websites when it came to choosing their policy for the year but because of their choice of car they were far from making a saving.

Costly cars cost more to cover

A high percentage of these drivers using comparison websites to source their car insurance cover, some 63 per cent are seeking cover for vehicles with an engine size larger than 1250cc. Another reason many of the young drivers are failing to find larger savings is because they have customised their vehicle, increasing its risk factors and thus hiking up the price of your policy. Unfortunately the study also added credence to the boy racer stereotype with over 65 per cent of young males aged between 17 and 21 driving cars that have a greater engine size than 1250cc, while just under 55 per cent of their female driving peers were found to be doing the same.

It appears that not only will the young speed racing male choose a faster car than their female counterparts but are also twice as likely to quote for a car that has modifications than the females in the same age category. Hayley Parsons the chief executive of Gocompare.com stated that “while young drivers are savvy about comparison sites to get a better deal on their insurance, the majority still haven’t got the message that ‘small is beautiful’ when it comes to choosing a car”. Considering “young drivers find it notoriously difficult to find affordable car insurance” it is not necessarily the wisest move to purchase a vehicle and then modify it if you are trying to be mindful of your money.

Driving down the cost

Motorists can “drive down their insurance costs further by choosing by choosing the right car” commented Hayley Parsons. She went on to say that “the car you drive has a dramatic impact on your premium” and it’s “just the value of the car, but the performance and engine size”. A lot of young drivers are under the impression that the price you pay for a car determines the price you pay for a policy. Unfortunately many find out the hard way, after they have bought a set of wheels that to insure their relatively cheap car is still costing them heaps of cash.

Similarly a young person behind the wheel of car that has a large engine size, capable of reaching higher speeds is seen to pose more of a risk than an older driver behind the same vehicle. Parsons concluded that cars with “body modifications are” also “more expensive to insure” as the minute you begin to alter a car from its original state you are calling into question the quality of the parts, their origin and suitability for the car in question. Young drivers should consider taking part in the Pass Plus scheme as it indicates the driver’s willingness to invest and develop their skills, almost guaranteeing a saving on one’s car insurance policy.