17-25 Year Olds Say Social Lives are Blighted by High Car Insurance Costs-and One Quarter May be Driving Uninsured - msnbc.com

MANCHESTER, UNITED KINGDOM — According to what is believed to be the UK's biggest ever survey(i) of young drivers, commissioned by leading insurance broker Swinton, 73% of young drivers under the age of 25 say their social lives are being blighted due to high car insurance costs.

The poll, which questioned 2,900 young people on their attitudes towards motoring, revealed that those who can't afford insurance, over a quarter (27.10%) admit they have committed the offence of driving their parents' car without insurance, or know someone who does this.

Over 70% (73.26%) of youths questioned believe that owning a car is a key step to becoming an adult, and a huge number - nearly 90% - believe a car enables them to be independent. But a majority (50.50%) believe motoring costs are a 'rip off'.

Insurance costs for 17-25 year olds have hit new highs with recent reports that average premiums often top GBP 4,000 per year for young men and GBP 2,000 for young women(1).

94.73% of the sample says that high insurance costs are having a negative impact on their social lives. Large numbers of this frustrated generation say that choosing to run their car means they have cut back on buying clothes (27.29%) or holidays (16.93%) and are prevented from going on nights out (27%).

Those that do own and maintain a car reported being used as a taxi service for friends (63.93%), with nearly half (43.39%) claiming their friends fail to contribute to petrol expenses.

When asked if they would be willing to install technology to a car that monitors driving behaviour including speed and hours of driving, with the aim of rewarding safer drivers with lower insurance premiums - 65.92% said they would install the device if it significantly reduced motor insurance costs.

However, more than half of drivers surveyed would not refrain from driving during the hours of 11pm and 6am to reduce insurance premiums, indicating that night-time socialising is still an important factor for young drivers.

Steve Chelton, Claims Manager at Swinton said, "We are all aware of the rising costs of young drivers insurance, but the impact that this is having on their social lives is often overlooked.

"The results from this survey clearly highlight that young car owners feel they are being exploited. It is costing them a fortune to enjoy the lifestyle that previous generations took for granted.

"Insurance companies need to address this issue so that the UK doesn't end up with a stranded and frustrated generation of young drivers, some who are breaking the law in order to drive a car."

(i) researched completed by One Poll, October 2011

About Swinton

      --  With 553 branches nationwide Swinton is the UK's largest high street       insurance retailer    --  Unlike many other companies in the financial services industry, Swinton       is committed to keeping its branches open for business, and part of the       community    --  Swinton provides a one-stop-shop for the insurance and related needs of       its clients, offering home, car, caravan, business, holiday, motorbike       and even classic car insurance    --  With a dedicated team of advisors on hand at every branch to search a       panel of insurers to offer quality cover at competitive rates.      

(1) As reported in the Financial Times Online, 20/08/11

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