Young motorists aged under 25 could save up to £281 on their car insurance by adding an experienced named driver to their policy, said Compare the Market.
It reveals the typical premium for a young driver is £1,859 with an additional named motorist on the policy. Without any other named drivers on the policy, the average premium for a young person is £2,140 – a 15% increase. However, all named drivers must drive the car for the policy to be valid.
The research also shows motorists aged between 25 and 34 could save up to £295 on average by adding a more experienced driver to their policy. For motorists in this age group, the typical premium for a driver is £751 if they have another named driver on the policy compared to £1,046 if there are no additional drivers. This is equivalent to a 39% saving on car insurance.
Car insurance costs have surged in recent years with young drivers facing the steepest increases. The average premium for a motorist aged under 25 with no additional drivers now costs £2,140 compared to £1,783 last year – a £357 increase.
The cost of car insurance usually declines by adding an experienced driver to the policy as insurers typically take both motorists’ information into consideration when determining the premium, based on the car being shared.
However, it’s essential that motorists are honest and careful to avoid fronting. Fronting is a type of insurance fraud. This is when a driver gets someone more experienced to be listed as the main driver on their vehicle, even though they do most of the driving.
If a young driver is caught fronting, their policy could become invalid, and they could face criminal prosecution.
