Cost of being a young driver revealed
www.moneynews.co.uk > Personal loans > Cost of being a young driver revealed
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Money News |
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Cost of being a young driver revealed
Mon 30th Jun 2008
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According to figures produced by uSwitch.com, such people pay an average annual premium of £989, 115 per cent more than the national average of £439.
Also, a young person's vehicle cover is reported to cost 69 per cent of the value of their car.
In addition, some young motorists are said to be denied cover altogether due to their age.
Meanwhile, uSwitch.com predicts that the average cost of young motorists' insurance may rise to £2,196 by 2018.
However, the financial comparison website adds that the car insurance industry could "come under fire" over its age-based cover fees as a result of the new equalities bill, which has just been announced by the government and is designed to tackle prejudices.
In other motor insurance news, The Motley Fool recently advised people planning on taking their vehicles overseas this year to make sure they have the correct cover in place and to read up on foreign road regulations.
Related News : Personal loans |
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