The teenager quoted £17000 to insure his £2000 Vauxhall Corsa!
28.07.10
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.
'It's in
everybody's interests to encourage young people to be better drivers
and those who are responsible and maybe need to drive for their job
should not be made to feel as if they're being discriminated against.'
Car insurance premiums have rocketed 11 per cent in the past three
months, according to the AA. The average premium for drivers who shop
around is £704, but most young drivers can expect to pay at least
£1,500 more than this.
Mr Hayes says: 'I used six comparison websites and the
cheapest comprehensive quote I found as a learner driver was £2,257
with ibuyeco. This rises to £3,555 with Admiral when I pass my test.
It's ridiculous when my car is only worth £2,000.'
The most expensive comprehensive quote he received was from The Green Insurance Company at £17,000 per year.
Have you ever aimed at acquiring vehicle insurance for new drivers? If you have aimed at locating any, you would know that finding vehicle insurance for a individual, less than 25 years of age is one of the most difficult things to accomplish. The costliest fees on insurance apply to individuals between 16 and 24 years of age. This is something that many persons find difficult to accomplish, and endeavor to complete. But, it is easy to get car insurance for new drivers and that also be at cheap premiums.
Underage drivers are in a situation in the case of getting auto insurance. License is a legal requirement and youthful may not use vehicles until and unless they acquire it. But, they also face the problem of being at a tough financial environment and having to invest quite a lot in terms of insurance amount or fee. Also, their financial position at that age tends to be very unsettled.
This truth may appear obviously unfair, but let’s examine the other side too. Young persons are usually not experienced. Most young may be safe drivers; yet, considering the elder group who drive, Underage persons are not experts in traveling. Being inexperienced, Underage drivers are at a greater chance of meeting with injcidents. So, the cost that the Young persons cause to the insurance groups is much higher than that caused by experienced persons.
So, if you need auto insurance before you turn 25, the rate that a underage driver may have to invest for the insurance will be much higher than the sum you may have to invest after you turn 30. However, there are several ways available to you in case you desire to find affordable insurance fees for young individuals. There are some steps you can do to keep your premiums lower.
The type of car that youthful persons drive in is a main point that affects your insurance premiums. At that age, all new individuals would be wanting to drive fast autos on their own. But flashy vehicles cause quite a increased total as insurance fees. So, the primary step you take towards saving money through less premiums is to get a simple make of auto, with a small engine. You want to convince yourself of the chances to trade in the vehicle to get a better make, once you gain a little driving experience and you are older, and are abe afford to invest the higher premiums.
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