Research has found that 43% of young drivers in the South West are unhappy having to rely on schemes like the black box to reduce insurance costs

Nearly half of young drivers in the South West deem the black box scheme ‘unfair’ according to new research* by insurance comparison website, Quote Goat.

The research, which surveyed 1,000 young drivers in the UK aged 17-24 on their perception of car insurance, found that 43% of young drivers in the South West are unhappy having to rely on schemes like the black box to reduce insurance costs - particularly as many come with restrictions such as driving curfews.

However, when questioned on other cost-saving methods such as their use of Dashcams, respondents in the South West admitted to not installing an insurer-approved Dashcam in their vehicle, despite 46% advising they are aware that this could in fact lower their insurance premium.

Other key take outs of the research include:

? Over a third of young drivers throughout the UK pay up to £1,000 per annum for their insurance, with a quarter paying up to £2,000. Just 8% of respondents pay maximum of £2,000 - £4,000.

? Car ownership is lower among young drivers in Bristol, with just 57% of respondents advising that they own their own vehicle compared to75% in Wales and 76% in London.

? When questioned on the recent MP debate as to whether insurance should be applied to the driver or the vehicle, young drivers posed a near even split - with 58% believing it should still be applied to the driver, and the remaining 42% supporting a change in law through insuring individual vehicles.

On discussing the results, Founder and Managing Director of Quote Goat, Michael Foote, said: “Car insurance has become increasingly expensive for young drivers in recent years, with many having to rely on schemes like black box to lower their annual premiums.

“Despite a massive 77% of all participants utilising the scheme, not even a third of young drivers felt it to be fair or beneficial – implying the majority have compromised with the schemes restrictions to receive a more affordable insurance cost. At Quote Goat, we work hard to deliver extremely competitive quotes for young drivers, ensuring they understand all fundamentals that come into play with insurance costs, from pass plus schemes to choosing vehicles with less modifications.”

This research comes following reports that insurance premiums are set to rocket in 2018, where experts predict young drivers will be hit the hardest.

Chris Stone, 21, agrees with Quote Goat’s findings, also deeming it unfair that Young Drivers have to rely on schemes like Black Box in order to reduce annual insurance premiums.

Chris first started his driving lessons in late 2015, and after 5 attempts, passed in January 2018. Although excited to have finally passed his test, Chris was shocked to discover his annual insurance premium as £1,700. Through the Black Box Scheme Chris was able to reduce this fee to £970, but is forced to pay monthly as he was unable to commit to the one-off fee in full.

He confirmed: “I finally past my driving test in January 2018, following four failed attempts. Like all young drivers, I was extremely excited to have passed, but felt quickly disgruntled when I learnt the cost of my insurance. I live in a countryside location, where my car is always parked on a private drive, however the annual premium was still quoted at a painful £1,700. The only way I was able to reduce this fee was by using the Black Box scheme, enabling me to save £730, with an annual premium of £970.”

“I’m in no way surprised to hear that over half of young drivers feel it’s unfair that we have to rely on the Black Box scheme to make insurance more affordable. If it didn’t reduce my costs by such a staggering amount, I would have not have signed up to it, as conditions such as the time of day or night I am allowed to drive are extremely restrictive.”

Launched in 2009, Quote Goat is quickly becoming one of the UK’s leading insurance comparison sites, offering instant quotes on vehicle, household and business insurance.

Visit the Quote Goat website here.

*The Quote Goat Young Drivers research was carried out via the Google Surveys platform.