Ipswich, Suffolk (PRWEB UK) 10 October 2012
A recent study by the Institute of Advanced Motorists (IAM) revealed that the cost of learning to drive is far greater than the average full time annual salary for a 16-17 year old, making it very difficult for young people to get on the road. This provides young motorists with little hope of being able to drive unless they rely on their parents to contribute or borrow money to cover the cost of getting behind the wheel.
According to the IAM the average full time annual salary for a 16-17 year old in 2009 was £9,300. Since 2009, statistics show that this figure has fallen by 9%, while the cost of learning to drive has remained constant. Such high costs could have an implication upon whether or not a young person is able to gain employment. With over 1 million youngsters in the UK currently unemployed, the cost of learning to drive could cause further complications, particularly for those in rural areas. Even for those fortunate enough to be in full time employment, relatively low salaries and expensive public transport alternatives still make it very difficult for youngsters to get to work.
The IAM’s study profiled a 17 year old male driver, driving a 2007 1.1 litre Kia Picanto valued at £3,000. The findings revealed that car insurance accounted for the highest proportion of the cost of driving. The cheapest quote found in the study was approximately £4,400 for a telematics or black box insurance policy, with a standard car insurance policy costing in excess of £7,000. The IAM’s estimated initial driving cost of over £12,000 includes: the vehicle; the cost of a traditional insurance policy; the theory test; the practical test; a provisional driving licence; a full UK driving licence; road tax; MOT; driving lessons and fuel and car maintenance for a year.
IAM Chief Executive Simon Best said: “The expense of learning to drive may affect young people’s chances of getting a job, especially in rural areas where it is essential to get to work, creating a vicious cycle.”
Andrew Goulborn, Commercial Director at popular car insurance comparison site Tiger.co.uk commented: “The figures published by the IAM show just how difficult it can be for young people to get on the road and the potential knock on effect on unemployment figures. For many Tiger.co.uk shoppers, especially young drivers, telematics policies provide better value than “standard” policies. Drivers buying them like the fact that their insurance prices are based on their actual driving behaviour and careful, safer drivers can benefit from this. We have increased the amount of telematics partners on Tiger.co.uk and now offer quotes from six providers, with the intention of adding more over the coming months.”
Tiger.co.uk is a trading name of Call Connection Ltd. Tiger.co.uk is a UK based, independent motor insurance comparison site, offering insurance quotes from over 150 insurance brands. Call Connection Ltd is authorised and regulated by the Financial Services Authority (number 308374).