Industry News from Yes Insurance

A price comparison website has revealed the amount of money young people on the road are charged for insurance.

Research from uSwitch.com has found that motorists under the age of 25 pay for around 22 per cent of the total spent on car insurance.

This comes despite the fact that the demographic makes up seven per cent of the market, the company added.

And in ten year's time the firm stated that the average cost of cover for a young person will be close to £2,200.

"Young drivers must do their homework first and shop around to make sure they find the best cover and policy features to suit their needs and budget," said Ashton Berkhauer, uSwitch.com insurance expert.

Motorists heading abroad this summer will be charged on top of their deals by car insurance firms, according to uSwitch.com research reported by the Motley Fool.

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