Over the past year motor insurance premiums have increased by 40%.
This is having a huge impact on motoring costs especially for young drivers who are expected to pay an average premium of £1,533.
Insurers claim that in UK there is a spread of a compensation culture, leading to higher premiums even though roads were getting safer.
The Office of Fair Trading ( OFT ) has said it will look into recent reports and will gather evidence over the next five weeks and publish its findings in December. Read the BBC article