Young drivers could save up to £380 per year if safety standards were improved according to the Association of British Insurers (ABI). Currently 127 to 18 year olds pay as much as £1,800 per year to insure their cars. It is estimated however that up to 3 million young drivers could save up to 20% of their insurance.
The ABI want young drivers to become safer drivers and at the same time reduce the number of deaths. Young and new drivers are at a greater risk of having a serious accident and this is reflected in the cost of their insurance.
The ABI want to see young drivers learn for a minimum period of one year. They also want to see a limit on the number of young passengers that new drivers are allowed to carry and also restrictions on driving in the dark which carries additional dangers.
It is claimed that 40% of young drivers have an accident within 6 months of passing their driving test. These proposals are being reviewed by the government along with other safety measures.