A 17-year-old student has discovered that it could cost him up to £17,000 to insure his £2,000 Vauxhall Corsa.

James Hayes saved for months to buy his first car – a second-hand one-litre model – but has discovered that he may have to work for even longer to fund the insurance.

James, who is currently taking his driving lessons, said he shopped around for quotes for his insurance and was staggered by what he saw.

"I used six comparison websites and the cheapest comprehensive quote I found as a learner driver was £2,257 with ibuyeco," he said. "This rises to £3,555 with Admiral when I pass my test. It's ridiculous when my car is only worth £2,000."

He said the quote from The Green Insurance Company was the most galling, coming in at £15,172.58 for a one-off payment, rising to £17,325.54 for payment in monthly installments.

Insurance premiums for young male drivers are some of the highest around, due to damning statistics that reveal that men aged 17 to 20 are almost ten times more likely to be killed or seriously injured on the roads than older drivers.

Prohibitive premiums like this are responsible for the significant rise in young, uninsured drivers.

James Daley, editor of Which? Money, says, "Uninsured driving is just a knock-on effect of insurers charging high premiums. If insurers really want to combat this then they need to come up with innovative solutions to help young drivers reduce their costs."

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