British pounds According to Compare the Market, young drivers with automatic-only licenses pay an average of £760 more for auto coverage each year than those who can also drive a manual car. (Photo: Joe Gough/Adobe Stock)

Seventeen-year-old newly licensed drivers in the U.K. have endured significant insurance rate increases since 2023, and now pay an average of £3,075 per year. According to data from Compare the Market, this is a £1,071 increase over the average cost of £2,004 in 2023.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.