Fines cheaper than car insurance for young drivers, says expert

Money News

www.moneynews.co.uk > Insurance > Fines cheaper than car insurance for young drivers, says expert

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Fines cheaper than car insurance for young drivers, says expert

Expensive insurance rates for young drivers make it more cost effective for them to get fines than to pay for cover, according to Young Marmalade.

Nigel Lacy from the car purchase and insurance scheme aimed at young drivers said that instead of trying to work with young drivers, firms move out of the market and push up premiums.

"A 17 year old male in London is looking at £3,500 before you start and that's just the insurance. If you have to buy the car on top, the prices are horrendous," he added.

Recent research by moneysupermarket.com found that 18-year-old males pay an average of £1,801 more for cover than girls the same age. By the time they reach 20, the average cost will have dropped by over £1,000 to £1,004 a year.

Mr Lacy suggested systems like i-kube, where costs are reduced as the policy holder is discouraged from driving between 23:00 and 05:00, would make insurance more affordable.

Click here for more insurance newsADNFCR-323-ID-19459358-ADNFCR

Related News : Insurance

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet