Young drivers now have to pay an average £5,731 to get on the road, much of which is taken up by car insurance premiums, research from Gocompare.com has found.
A growing number of young people are opting not to become drivers because of the increasing cost of young drivers' car insurance and the other costs associated with driving, such as paying for lessons and buying a car.
Car insurance for young drivers accounts for two fifths of the total cost of a young person getting on the road; consequently, 13 per cent of parents say that their children are not becoming drivers at this stage for that reason.
The research discovered that the majority of parents have contributed to their child's driving aspirations, with 70 per cent helping to pay for lessons, putting money towards their first car, and helping with car insurance costs.
Learning to drive costs an average £680, including 22.3 hours of driving lessons, with the test and provisional licence fees.
After the cost of buying a car – an average of £2,477 – young drivers' car insurance represents the most expensive aspect of getting on the road for young people, at an average £2,455.
Car insurance for young drivers is more expensive than a quarter of parents were expecting, and many think that the car insurance industry should be working to make it more affordable to avoid a growing number of young people driving uninsured.
Lee Griffin, spokesperson for Gocompare.com, commented, "There is no getting away from the fact that insurance for young drivers is expensive but all insurers treat the problem differently and therefore it is young drivers who benefit most from shopping around."
To try and keep car insurance premiums to a minimum, Mr Griffin recommends that "While the initial costs are high, the best advice in the long run is to shop around for the best price for insurance in the young driver's own name. That way they start accumulating no claims bonus as soon as possible."
Other things young drivers can do to keep the costs down include choosing a car with a small engine, avoiding modified vehicles, taking a Pass Plus test, driving safely to avoid accidents which damage no claims bonuses and push up premiums, and ensuring that they compare car insurance quotes to find the best deal.
© Fair Investment Company Ltd