If you are a young male who has not long passed his driving test and you are hoping to purchase an expensive sporty car, then be prepared for a shock. You might be asked to pay several thousand pounds just for third party insurance. According to insurance companies, young male drivers are very high risk, especially when they are driving fast cars. Statistics bear this out too.
As a rule of thumb, one in eight of all drivers (male and female) who hold a full driving licence are aged 25 or younger. However when you look at road fatalities, one in three driver deaths occur to drivers in that age group.
Comparing age groups: a forty eight year old driver in only one third as likely as an eighteen year old driver to be involved in a car accident and twenty percent of new drivers are involved in a car accident in the first six months after passing their driving test. Young male drivers have far more accidents than young female drivers. Considering just male drivers, young men aged from seventeen to twenty are seven times more likely to have an accident than all male drivers grouped together. The worst time for them to be on the road is in the early hours between 2.00 and 5.00 in the morning when the chances of them having an accident are seventeen times more likely.
The reason why young men are so accident prone is not difficult to fathom. By their nature they are risk takers and highly competitive. However, many insurance companies tend to penalise them more than would seem to be fair. That does not go for all insurance companies though, and there are some such as Endsleigh who are quite happy to insure them at a reasonable price assuming that they drive a reasonable rather than a high performance car. Endsleigh are in fact known for young drivers insurance, especially for students – with discounts of up to 23% available depending on your university.