The enthusiasm that young drivers feel when they pass their test and purchase their first car could quickly turn into frustration as they search for cheap car insurance.
Young drivers in the UK aged from 17-21, have traditionally faced higher car insurance premiums primarily due to their lack of experience behind the wheel which has equated to a higher percentage of accidents among their age group.
However, now several car insurance companies are withdrawing coverage for young people altogether in the face of escalating claims.
Which car insurance companies are withdrawing cover?
The insurers in question are Axa, More Th>n, Saga, Swiftcover and members of the HBOS group which includes Halifax, Esure and Sheila’s Wheels. Each of these insurers will now automatically reject applications from 17-year-olds although some may accept them as named drivers on their parents’ policies in exceptional circumstances.
Even Norwich Union, part of the Aviva group, which is the UK’s largest insurer, is considering withdrawing its business from young people. A spokesman for the insurance company recently stated that it was reaching the point where premiums for young drivers had to be set at levels which are generally unaffordable.
According to AA insurance, the biggest car insurance broker in the UK, fewer than a quarter of all car insurers in the UK are willing to offer quotes to 17-year-olds and around half have stopped quoting for drivers under the age of 21.
What has caused this backlash from the car insurance companies?
In many respects, the statistics speak for themselves. There is a high casualty rate among young drivers with a recent survey revealing that male drivers under the age of 21 are ten times more likely to be involved in a motoring accident than drivers over the age of 30.
It’s not just young people that are being affected either – the more claims that are made, the higher...
23.09.11
Ford KA2 'cheapest vehicle for young car insurance holders' By Tom Farley , Fri 23 Sep 2011 - Published in Car InsuranceThe cheapest vehicle for young car insurance policyholders to get cover for is the Ford KA2, according to research by Confused.com.
Its report highlighted that for drivers aged between 17 and 20 the Ford was the leader in getting cheap policy premiums, closely followed by the Peugeot 107.
The firm's survey also found that the Honda Civic is the most expensive vehicle for people in this age group to get cover for.
Gareth Kloet, head of car insurance at Confused.com, said: "Young drivers and learners are telling us that the cost of insurance is the biggest barrier to getting behind the wheel: more so than the cost of buying the car."
"Buying your first car should be exciting, not a worry about whether you can afford the insurance costs," he added.
Recently, Defaqto stated that the car insurance industry must concentrate on improving policy car insurance costs for young drivers in the UK.
Source: Compare Now
Cheap Car Insurance For Young Drivers Some tips presented in this text could be applied by young driver to get cheap car insurance. If the age of ...
|
Young Marmalade recognised for road safety Insurance Daily - Jan 05, 2010
which offers a combined car purchase and insurance scheme for young drivers, has recently received praise from Tom Gardener, general manager of Honda UK
|
|
Pete Barber set for 2010 European Drift Championship girlracer - Jan 06, 2010
And, just as he was last season, the 24-year-old will be supported by performance, modified and imported car insurance broker Swinton Specialist. and more »
|
|
Saga Car Insurance Looks at How Important Specialist Car Insurance Really Is Advertiser Talk - Dec 17, 2009
London, UK (PRWeb UK/) 17-Dec-2009 — And that's great news. It means, as a car driver, whether you're a young driver, older driver,
|
|
Tips to save £1000 on your car insurance Money High Street - Dec 17, 2009
Latest data gathered from major auto insurers in the UK has revealed that you can find some of the cheapest car insurance policies in the country in and more »
|
|
Late night driving needs to be cut Linex Legal (registration) - Dec 14, 2009
The car insurance specialist for young motorists is considering incentive schemes to get young drivers off the roads at night. Nick Moger, co-founder of the and more »
|
|
|