A majority (61%) of UK motorists believe the relatively higher cost of young driver insurance is completely fair.
39% still believe young driver insurance is unfairly expensive.
Many ask why young driver insurance is so expensive –and the answer boils down to statistics.
Statically, young drivers (usually classed as drivers between 17 and 24 years old) are the most at risk group on the road when it comes to road accidents.
Mark Bower-Dyke, Chairman of Be Wiser Insurance, comments:
"While it might seem that insurance companies are trying to punish young drivers, this is far from the truth. Young driver insurance presents a higher risk to insurance companies: over a quarter of road accidents involve a young driver and one in five drivers have an accident in the first year of driving. The majority of those responding to the survey seem to understand the inherent risks of the road for young drivers."
This doesn't mean that insurance companies are complacent about the costs of insurance for younger drivers.
Mark Bower-Dyke continues:
"As with much of driving safety, advancing technology is likely to come to the rescue. Telematics systems or 'black boxes' are the first wave of what could be considered 'pay-as-you-go' insurance. While the technology is still in its infancy it can allow young motorists the chance to prove they're safe and careful drivers. But sadly, for the time being, passing your test is still one of the most costly things a young driver can do!"