Drivers born in these years hit with £850 charge to keep car on the road

Drivers born in these years are facing a massive charge of over £650 just to keep their cars on the road legally.

Comparison website Compare The Market has compiled new figures on car insurance which show some big increases in the cost of annual premiums for drivers in various age brackets.

Across all ages, the average car insurance cost has risen by 18 percent, with the typical price now a staggering £850 a year, a jump of £132.

Car insurance is mandatory legally for all drivers using public roads, but the cost is increasing every year. Experts have put this surge down to the cost of repairs having increased significantly. With inflation running at about 11 percent at times in the past two years, garages pushed up their repair costs which in turn was passed on to motorists again through increased insurance premiums, even though the number of claims has dropped.

The average cost of car insurance has increased by £310 for those aged under 25, while those aged 65 to 79 have been hit with a 26 percent increase.

But the biggest increase is for drivers aged over 80. They have seen premiums leap 27 percent from £517 to £656. 

In total, it means drivers born in the years 2000 to 2007, and at the other end of the scale, born in 1929 to 1944 are seeing the biggest increases to the cost of keeping their car on the road.

Those born in the years to 1945 to 1959 have also seen a big increase in their costs, although not as big as the other two sets of years.

CompareTheMarket director Anna McEntee said: “The substantial cost of car insurance is understandably causing concern for many motorists.

“Our research shows motor premiums have risen by more than £100 year-on-year. Drivers aged under 24 and over 80 are seeing the steepest increases.

“Typically, insurers consider motorists in both age groups as more likely to make a claim which could lead them to see higher premiums.

“For those concerned about the cost of their motor premium, shopping around ahead of renewal is one of the best ways to try and save money on car insurance.

“We want to encourage older motorists who may be more inclined to stick with their existing insurer each year to compare prices ahead of renewal to see what deals are available.”