The average premium for those aged under 25 stands at £825, according to the Association of British Insurers (ABI).

While those aged 17-24 only make up 7% of all UK licence holders, they’re involved in nearly a quarter of all fatal collisions, which is why premiums skyrocket for this age group.

But the ABI has come up with top tips for young drivers to reduce the cost of car insurance:

1. Pick the right car

As a rule of thumb, the greater your engine size, the more likely it is to be involved in an accident and the higher the insurance cost. The value of your car will also impact on your premium. If it’s more expensive to replace or repair, the premium is likely to increase.

2. Shop around

The UK’s motor insurance market is fiercely competitive, so it always pays to shop around to find the best price. As well as checking price comparison sites, go direct to insurers or get in touch with an insurance broker.

As with any insurance, it’s just as important to choose a policy that fits your needs as well as your price point. Remember, car insurance is here to give you peace of mind, so there’s no point in buying a policy that doesn’t cover everything you need.

3. Drive safely

By driving safely and avoiding accidents, you’ll build up a no claims discount (NCD), which will help keep costs low in the future. Penalty points on your licence can also negatively impact your premium so don’t speed, get behind the steering wheel after having a drink or use your mobile phone.

4. ‘Black Box’

Black Box or telematics devices are installed in cars and track exactly how you drive. By being careful, not exceeding speed limits and with smooth start and stops, you may be able to cut the cost of your car insurance from the typical ‘boy racer’ premium.

5. Be financially savvy

Paying a higher excess is another way that could lower your car insurance costs but make sure you can afford to pay this amount. As a young driver, you may already have a higher compulsory excess than someone who has been driving for a while. In addition to your compulsory excess, you can set a voluntary excess. If you do need to make a claim, you’ll need to pay both the compulsory and voluntary excess.

6. Secure your car

Adding extra security features, such as an alarm or an immobiliser could deter thieves and help reduce your premium. Parking your car in a garage overnight or on a drive could also keep the costs down.

7. Steer clear of modifications

Any changes to your car that aren’t safety-related are likely to increase the cost of insurance.

8. Never lie

Small white lies like saying your car’s kept on a driveway when it is actually kept on the road can be considered to be insurance fraud. Be aware of ‘fronting’ – this is where you add an experienced driver as a main driver when actually you’re the main driver.

These tweaks to the truth mean you risk invalidating your insurance and gaining a criminal prosecution. If you’re marked as a fraudster, you may struggle to get cheap insurance in the future.