Teenage motorists are paying the price for the reputation of their peers: they face bumper car insurance premiums and some insurers won’t even offer them cover at all. Finding a car insurance deal for youngsters is no easy task but there are solutions. Legally, you might be able to learn to drive when you reach the age of 17, but for many teenagers it may be financially prohibitive. Not only is there the cost of lessons and at least one driving test to factor in, but the price insurance for young drivers can be astronomical. Research from moneysupermarket.com found that an 18-year-old single male driver with a 10-year old Ford Fiesta in the Leeds LS18 postcode area would have to pay £3,167.69 for comprehensive car insurance annually. However, if the same driver waited three years and began driving aged 21 he would pay just £1,686.89 – that’s a saving of nearly £1,500 a year, just for being a few years older. Compare quotes from more than 50 car insurance providers Why do young drivers face higher car insurance premiums? Unfortunately, young drivers pay the price for the reputation of their peers. Research shows that every day Britain’s roads witness four fatalities or serious injuries as a result of accidents involving young people. It is estimated that the country’s 18-year-olds alone cause 50 collisions a day – that’s more than three times as many as drivers in their 50s. Young males have been tarnished with the boy-racer image and they pay the highest premiums paying anything up to £1,550 a year more for comprehensive cover than an 18-year old female, living at the same address, driving the same car. Cars driven by young people are also more prone to theft and vandalism as crime rates are higher among their age group. University towns and cities generally report higher crime rates than other towns and rural areas. As a result students pay the price of having a car while at university, as do other young drivers who live in or around student areas. Insurers calculate premiums on perceived risk – the higher the risk, the higher the premium – and the bad news for young drivers is that the odds are stacked against them. Insurers measure risks in different ways however, so it’s important to shop around as premiums will vary. Slash your car insurance premiums - pick your policy carefully There are three policy options available to all drivers – third party, third party fire and theft and comprehensive cover. Typically, experienced drivers are better off taking out a comprehensive car insurance policy to cover themselves for all risks and scenarios. However, the cost for a young person taking out comprehensive cover will be very high, and in many cases the cost of insuring the car for a year, will exceed the vehicle’s value. Third party, fire and theft could therefore be a better option, particularly if you are driving an older vehicle. For example, an 18-year-old male who lives in Cardiff and drives an eight-year old Nissan Micra, would pay more than £3,000 for a comprehensive policy compared to £1,617.15 for the cheapest third party, fire and theft deal. To drive legally in the UK you only require third party cover. These policies cover any damage to a ‘third party’, but do not cover you or your car – so basically there is no insurance for personal accidents or damage to your vehicle, nor will it pay for a replacement if your car is stolen. With third party, fire and theft you do have protection in case your car is stolen or is set alight.