73% of young drivers under the page of 25 claim their social lives are being adversely affected by high insurance costs, according to a survey this week by broker Swinton.
Here are some of the key findings from the 2,900-strong poll:
- 90% of youths believe a car allows them to be more independent
- 51% believe motoring costs are a ‘rip off’
- Car insurance costs cause 27% to cut back on buying clothes, 27% nights out and 17% holidays
- 64% of young car owners reported being used as a ‘taxi service’ by friends
- 66% said they would install a black box device in their car if it significantly reduced insurance costs
- Over a quarter surveyed claim to have driven their parents car uninsured, or know someone who has done.
This survey reiterates the message we already knew – car insurance has gotten out of control for young drivers. It’s encouraging to see that two thirds of those surveyed would opt for telematics-based insurance, which is proving to be a market gaining real traction among teenagers in particular.