Student car insurance statistics

How much should you expect to pay for car insurance while studying?

As a student paying the costs that come with living on your own, is it worth spending additional funding to keep driving? We’ve broken down the kind of premium prices you can expect to pay as a student looking for student car insurance.

Our findings have shown that, as of 2018, the average increase in car insurance for females compared to males is 3.3% among all age groups, with the costliest age group for car insurance being for 20- to 29-year-olds. In addition to age and gender, insurance is highest for students attending university in major cities, like London and Manchester.

The latest facts

  • The average annual price for student car insurance in the UK is £1,037.
  • The average bodily harm insurance claim following an accident is £10,347.
  • From 2017–2018, annual premium quotes fell most for under-25s (-15.4%) and least for over-50s (-6.8%).

The average price for car insurance by age group 2018

Average car insurance cost Female Male
20-29 yrs £1,060 £1,013
30-39 yrs £843 £820
40-49 yrs £699 £684
50-59 yrs £610 £589
60-69 yrs £698 £676
The average car insurance cost by age and gender shows premiums are most expensive for 20-year-olds and least expensive for those in their 50s. Additionally, for all groups, females are charged the most, with the highest being almost 5% in the 20s age group. In turning 30, the average costs decrease by 20% to an average of £832.

How car insurance premium costs have changed in the past 10 years

For comprehensive and third party, fire and theft cover, prices have fluctuated over the last 10 years. When considering buying car insurance, keep in mind that while averages can give a good indication of price, it is common for insurance premiums to change based not only on age and location.
Year Comprehensive Third party, fire and theft
2010 £432 £526
2011 £612 £859
2012 £628 £900
2013 £586 £876
2014 £491 £719
2015 £458 £673
2016 £552 £770
2017 £665 £1,066
2018 £630 £943
There is a strong correlation between the two insurance policies, suggesting that the costs for these have both been influenced by the same events. For the two policies combined, if you were to buy the two in 2018 compared to 2015, you would be charged £270 more for third party, fire and theft and over £170 more for comprehensive cover.

The average car insurance policy price for students in different universities

This figure is representative of the different policy prices you will experience living in different locations in 2019.
UNIVERSITY AVERAGE COMPREHENSIVE POLICY PRICE FOR CITY
University of Oxford £632
University of Cambridge £698
University College of London £1,338
The University of Edinburgh £627
The University of Manchester £1,110
The University of Nottingham £758
University of Glasgow £746
University of Leeds £902
The University of Warwick £790
Newcastle University £701
University of Southampton £635
University of Birmingham £1,094
The University of Sheffield £813
The University of York £589
University of Liverpool £1,011
The most accident-prone areas with the highest crime rates charge the most to cover any car damage: London, Manchester and Liverpool. By studying in York compared to London, you could save over half of the £1,338 you would have spent.

Sources

statista
AA
Confused.com
ABI
Consumer intelligence

Click here for more research. For all media enquiries, please contact:

Matt Mckenna
UK communications manager
T: +44 20 8191 8806
matt.mckenna@finder.com@MichHutchison/in/matthewmckenna2

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