The 10 cheapest cars to insure for young drivers revealed

  • Young drivers need to find at least £4,750 to be on the road in their first year
  • They can expect to pay around £2,200 after their first year
  • Insurance makes up half the yearly cost
  • The VW Up! is the cheapest car to insure for
  • 17-24 year olds

up

 

Comparethemarket.com has said that insurance alone accounts for around half of the yearly motoring fee, costing an average of £1,247 for each of the first seven years a 17 to 24-year old driver has a policy.

But there is good news, because there are cars that cost around half as much as that to insure – as long as you’re willing to drive something small.

According to comparethemarket.com’s latest Young Driver Index report, drivers in the youngest age bracket are spending an average of £4,750 in their first year of driving – that’s including buying a car.

After the first year, average spend drops to £2,200 a year to cover the cost of insurance, maintenance, breakdown cover and fuel until reaching the age of 25. But it’s insurance that people are having to spend the most on.

The average young person hands over £1,247 for cover each year, comparethemarket.com said in the report.

The most popular car choice among the youngest drivers is the Vauxhall Corsa, which is even more expensive to insure than this average and is valued at around £1,979 to buy. It’s also around £320 more than the average premium across the top ten cheapest cars to insure if you’re in this age group.

Topping the cheap list is the Volkswagen Up! city car, which costs an average of 805 per year to insure for 17 to 24-year-olds.

CHEAPEST CARS TO INSURE FOR 17 TO 24-YEAR-OLDS

CAR AVERAGE PREMIUM AVERAGE VALUE OF CAR ENQUIRIES (%)
Volkswagen Up! £804.79 £5,238 0.35%
Hyundai i20 £809.67 £7,027 0.18%
Fiat 500 £814.72 £3,113 2.33%
Vauxhall Adam £829.37 £3,791 0.46%
Hyundai i10 £838.08 £5,750 0.35%
Volkswagen Fox £842.44 £4,945 0.26%
Fiat Panda £867.27 £6,537 0.23%
Mazda2 £868.40 £5,986 0.43%
Peugeot 107 £871.10 £4,060 1.18%
Toyota Aygo £874.95 £4,709 0.96%
AVERAGE £842.08 £5,116

Simon McCulloch, director of insurance at comparethemarket.com, said: ‘Newer models can come with hefty price tags but older cars tend to have higher premiums and maintenance costs as there is a greater chance of them breaking down and causing an accident.

‘When picking your car, it is important to choose a model which won’t carry hefty insurance premiums.’

Comparing the list of the top 10 cars with the cheapest insurance prices to the top 10 that 17 to 24-year-olds are most commonly actually buying shows what a difference size really makes.

Of the cheapest, all 10 are either city cars or supeminis.

However, the top 10 most popular cars includes the Vauxhall Astra, VW Golf and Ford Focus, all of which are medium-sized hatchbacks.

Vehicle value also has a big impact.

While the average cost of the cheapest 10 vehicles is just over £5,000, the most frequently bought models among young drivers cost around half as much.

MOST POPULAR CARS FOR 17 TO 24-YEAR-OLDS AND COST OF INSURANCE

CAR AVERAGE PREMIUM AVERAGE VALUE OF CAR ENQUIRIES (%)
Vauxhall Corsa £1,162.23 £1,979 15.00%
Ford Fiesta £1,110.17 £2,661 10.48%
Renault Clio £1,121.32 £1,640 6.76%
Volkswagen Polo £1,139.42 £3,267 5.24%
Vauxhall Astra £1,258.28 £3,574 4.47%
Ford Ka £940.32 £1,578 4.28%
Volkswagen Golf £1,327.64 £4,599 3.62%
Fiat Punto £1,199.89 £1,529 3.42%
Ford Focus £1,168.91 £4,156 3.17%
Peugeot 206 £1,193.52 £659 3.12%
AVERAGE £1,162.17 £2,564

 

X