Some drivers could save more than £290 on their car insurance prices by adding another person to their policy as motorists look to cut their expensive costs.
Car insurance prices have spiralled over the last two years, with costs for the average driver reaching around £1,000, while younger motorists have been charged as much as £3,000 to get behind the wheel.
Experts are now suggesting that motorists could save up to £295 on car insurance if they include an additional driver to their policy, with younger road users set to benefit the most.
On average, drivers aged between 16 and 24 will pay £2,140 for their car insurance costs. However, by adding one other named driver to the policy, motorists can see their costs fall to £1,859 – a saving of £281.
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Motorists could save hundreds of pounds if they add another driver to their policy
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The biggest saving on offer is for the 25 to 34 age group, with costs falling from £1,046 down to £751 by adding another driver – the largest potential saving of up to £295.
Before adding another person to their policy to potentially save money, all named motorists must drive the car for the insurance to be valid.
The research, from Compare the Market, found that Britons of all ages could save at least £40 a year by adding another driver to their policy.
Julie Daniels, Motor Insurance Expert at Compare the Market, said: “Many younger drivers are likely to be struggling to stay on the road as the cost of car insurance has risen by 19 per cent in the past year.
“For these motorists, adding an experienced named driver to their policy is a legitimate way to bring down the cost of insurance.
“Young drivers could save a significant amount of money if they add a parent or other experienced driver to their policy.”
However, Daniels highlighted potential issues with giving accurate information to insurers, with drivers urged to tell the truth regarding their mileage and other factors.
Young drivers have been issued a specific warning regarding the controversial practice of fronting, which is when someone declares themselves as the main driver when they are not.
This is illegal and drivers could be slapped with an unlimited fine, six penalty points on their driving licence and potentially even a criminal record.
Experts have consistently called on drivers to shop around before they renew their car insurance, with expected savings benefits of around £549.
It comes as Martin Lewis warned motorists of one specific day when they can see the most savings when buying a new car insurance policy.
Research from the Money Saving Expert found that drivers could save as much as 55 per cent on the total cost of their insurance if they purchase it 26 days before the starting date of the new policy.
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Martin Lewis has urged drivers to shop around before they automatically renew
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Further research found that as many as 98 per cent of people are unaware of these savings, despite the major savings they could bring for hard-pressed motorists.