Press office

Young hot hatch drivers can cut their car insurance in half

Young men like hot hatches. Unfortunately, for most of them, the cost of insuring a fast car is sky-high. But there are ways they can keep their premiums relatively low and still be seen in a top-notch hot hatch.

Leading car insurer, Admiral has looked at the cost for a typical young, male driver to insure a range of popular hot hatches. And, by finding the right insurer and keeping his nose clean, he can insure himself in a hot hatch for less than £700 a year.

Admiral managing director, Jane Stone, said, "Men, under-25, in hot hatches are among the likeliest motorists to be involved in an accident. Unfortunately if you are a young male who likes fast cars, but doesn't drive like an idiot, the fact that you are in a high-risk group usually pushes the cost of insuring a hot hatch through the roof."

Admiral found that even with full no claims bonus, a 23-year-old male would pay on average, £1200 for one year's fully comprehensive insurance in a hot hatch. But if they shop around, they could half their premiums.

The case study is a 23-year-old male office worker from Romford, with full no claims bonus, driving the following hot hatches (the quotes comparisons are at the end of the release):

VW Golf GTI
Peugeot 106 GTI
Seat Ibiza Cupra R
Vauxhall Astra SRI
Peugeot 206 GTI

Admiral's research reveals some insurers refuse to even quote for such drivers. While the difference between the lowest and highest quote was as high as £2000 on one car.

Jane Stone, continued, "Many insurers only want low risk drivers, and when it comes to calculating premiums, they take in many factors, including sex, age and of course the car. This explains the huge difference between the quotes and also why some companies refuse to quote at all. We'd suggest that anyone in a typically high-risk insurance group take time to contact as many insurers as possible. They could save themselves £100s."

Issue date: 11-04-03