Why is student driver insurance so expensive?
A combination of factors contribute to student driver insurance being expensive. Firstly, students are generally young and inexperienced drivers. This means they’re statistically much more likely to have an accident and make a claim – which is costly for insurance companies. Naturally, this drives up the price of the premiums as the insurers recognise that they’re far more likely to need to make a payout.
Secondly, students often live in neighbourhoods where the crime rate is high – and are seen by many criminals as easy targets when it comes to car theft and vandalism. Sadly, student drivers bear the brunt of this cost.
At MyFirstUK, we specialise in finding the right student driver insurance that offers adequate protection while recognising the need to stick to a student budget!