Half of Young Drivers Struggle with Insurance Costs, New Survey Shows》

Trakm8’s Young Driver Campaign: Tackling the Cost‑Cramper on Your Wallet

Trakm8—UK’s go‑to supplier for connected car data and the one‑stop shop of devices for insurers and broker‑friendly drivers—has rolled out a fresh “Young Driver Campaign.” The goal? Raise awareness of how skyrocketing insurance premiums are messing with young folks’ lives, careers, finances and independence—and offer practical tips to tighten their purse strings.

Who Needed the Lighter?

A nationwide study, commissioned by Trakm8, dove into the real‑world impact of rising insurance cost on drivers under 25. The findings were gut‑wrenching.

55 % of under‑25 drivers are struggling to afford insurance.
25 % are holding back on buying a car due to those sights‑searing insurance quotes.
30 % feel their education and career trajectories are being choked by reliance on public transport.
10 % report that owning a car would force a permanent move out of the family home.
15 % have reached out to parents for a hand‑out.
20 % aren’t chasing a learner’s permit just yet.
8 % have had to ditch their vehicles entirely because insurance was just too steep.

Why Smart Driving Beats “Cash is King”

Around 86 % say they’d gladly let insurers monitor their driving data if it could unlock cheaper premiums. 93 % argue that insurers should slash rates when they can prove safe driving. And 90 % call for government help to bring insurance back in line.

Trakm8’s solution? A full‑blown telematics suite that draws on machine learning, AI and a UK‑base manufacturing hub. The platform gives insurers deep data into every driver’s habits and vehicle health, letting them tailor policies one–by–one.

What the Boss has to Say

Adam Gooch, Managing Director for Insurance at Trakm8, underlines the urgency: “The inflation of car insurance isn’t just a headline—it’s a reality that’s pushing many young people out of the market. Our mission is to educate and empower them to keep driving without burning a hole in their wallets.”

In a nutshell, PAYD (Pay‑As‑You‑Drive) and UBI (Usage‑Based Insurance) are the game‑changer: they’re fairer, they reward good habits, and they’re a smoother ride for the next generation of drivers.