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People taking out Car Insurance later and later

Mon, 10 Oct 2005

More people are taking out Car Insurance policies later in life, according to a new report.

Research from insurance provider MORE TH>N suggest that many people are not getting on the "motor ladder" until they are in their early 20s.

Traditionally, many people would pass their driving test at the age of 17 and quickly start building up their no-claims bonus; however, many more consumers are choosing to wait until they graduate from university before learning to drive. This also means that their first car is not usually a parents' "hand-me-down" car but is likely to be a new model.

"We’ve seen that first time drivers are getting older, and that they are more likely to buy newer cars once they get on the ladder," said David Pitt, head of insurance at MORE TH>N.

"Our suggestion to any new driver is to build up as many years without making a claim as possible as this can help to reduce premium costs. Experience helps to achieve discounts of up to 65 per cent on your policy in just four years of driving, so a £1,000 premium would reduce to £350," he added.


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Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.