Learner permit drivers are paying as much as 23% more for car insurance than those on a full licence, new figures from Peopl Insurance show.
Peopl examined the cost of car insurance for learner drivers of various ages and the savings which can be made by moving from a learner permit to a full licence.
There are currently 368,924 learner permit drivers in Ireland.
Peopl's research shows that a 20 year old driver of a Hyundi Tucson would pay €2,079 for motor insurance on an provisional licence compared to €1,850 if they had a full licence.
It also shows that a 18 year old driver of a Hyundi Tucson would pay €2,618 for motor insurance on an provisional licence compared to €2,232 if they had a full licence.
Paul Walsh, from Peopl Insurance, said that of the 368,924 learner permit drivers in Ireland, almost 160,000 of these are on their second or more learner permit, while 37,000 drivers have rolled over to at least their fifth learner permit.
"All of these drivers are likely facing a three-zero bill for car insurance each year and losing out on significant savings by falling to pass their driving test," he said.
He said that car insurance costs for young people in particular can be prohibitive, especially when they are just starting out on the road.
"There are substantial savings to be made by moving from a learner permit to a full licence - to the tune of about €400 a year for some young drivers. Giving the ongoing loading which those on learner permits would otherwise face, the savings will add up over the years," he added.
