Drivers born in certain years face £850 charge to keep car on the road

Car insurance costs have rocketed

Motorists born between 2000 and 2007 - as well as those born from 1929 to 1944 - are facing a hefty charge of over £650 just to legally keep their cars on the road.

Comparison site Compare The Market has released new data revealing significant hikes in the annual premiums for drivers across various age groups. On average, car insurance costs have surged by 18 per cent, with the typical price now a whopping £850 per year, an increase of £132. Car insurance is a legal requirement for all drivers on public roads, but the cost continues to rise annually.

Experts attribute this surge to the significant increase in repair costs. With inflation peaking at around 11 per cent at times over the past two years, garages have increased their repair charges, which has been passed onto motorists through higher insurance premiums, despite a decrease in claims.

The average car insurance cost has risen by £310 for drivers under 25, while those aged 65 to 79 have seen a 26 per cent increase. However, the steepest increase is for drivers over 80, who have seen their premiums jump 27 per cent from £517 to £656. This means that drivers born in the aforementioned years are experiencing the largest increases in the cost of keeping their cars on the road.

Those born between 1945 and 1959 have also seen a substantial increase in their costs, albeit not as large as the other two age groups, reports the Express. CompareTheMarket director Anna McEntee said: "The substantial cost of car insurance is understandably causing concern for many motorists.

"Our research shows motor premiums have risen by more than £100 year-on-year. Drivers aged under 24 and over 80 are seeing the steepest increases. Typically, insurers consider motorists in both age groups as more likely to make a claim which could lead them to see higher premiums.

"For those concerned about the cost of their motor premium, shopping around ahead of renewal is one of the best ways to try and save money on car insurance. We want to encourage older motorists who may be more inclined to stick with their existing insurer each year to compare prices ahead of renewal to see what deals are available."