• welcome to honcho
  • car insurance
  • van insurance
  • our insurers
  • our partners
  • B2B
  • our blog
  • about us
  • get prices now!

Young driver rip-off report

Welcome to the honcho Young Driver Rip-Off Report

YDR

It is common knowledge that young motorists in Britain today face by far the highest insurance premiums (149% above the average according to our research), but what impact is this having on the lives of young people also struggling financially with paying off expensive student loans, attempting to get on the property ladder and the rising cost of living?

To uncover the hidden effects caused by high premiums, we commissioned a survey of 750 UK-based motorists aged 17-24.

We asked respondents about everything to do with how the cost of driving affects their lives – from just how much they actually pay for their motor insurance, to how (if at all) they are able to afford it, and (when they have not actually been able to afford to drive) what impact this has on their lives. The results make fascinating reading and show that more needs to be done to help young people overcome the negative impact of being priced out of having the freedom driving brings.

This report clearly identifies what the real life ‘young driver disadvantage’ actually looks like – including its far-reaching effects that have an impact on everything from people’s social lives and self-esteem, to education and job opportunities. Crucially, we’ve also identified a number of ways in which the insurance industry is not necessarily helping its youngest drivers, as well as some shocking gaps in young drivers’ knowledge about how to ascertain the best deals. We hope both young drivers themselves and stakeholders from across the insurance industry find the results as insightful as we did.

Gavin Sewell, honcho CEO

Download the report by clicking here.

  • car insurance
  • cookie policy
  • get in touch
  • team honcho
  • our blog
  • our insurers
  • our partners
  • press
  • welcome to honcho
  • help
  • i'm an interested insurance provider
  • privacy policy
  • promotions
  • refer a friend
  • terms & conditions
  • testimonials
  • update me!
  • van insurance
  • Contact us
  • Honcho Markets Ltd
  • Salvus House
  • Aykley Heads
  • Durham
  • DH1 5TS

honcho is a product of Honcho Markets Ltd, Salvus House, Aykley Heads, Durham, DH1 5TS, United Kingdom. Registered in England No. 09190148, Vat No. 197547159.

Honcho Markets Ltd is an insurance intermediary, authorised and regulated by the Financial Conduct Authority (Firm Reference Number 791467).

biba logo