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Beat Car Insurance Increases By Shopping Around
By Rochelle Martinez
Young drivers should search online to find the cheapest car policy, according to industry experts.
Steve Sweeney, from Money Supermarket, recently issued the advice following the release of new proposals from the UK government. If implemented new rules forming part of the Equality Bill may mean that car policies for young drivers remains high. Many areas would be affected by the regulations and the market is particularly likely to be shaped by the legislation. The new rules mean insurers are likely to apply "age appropriate" prices for their premiums, which are significantly higher for teenaged motorists.
Figures from the company reveal that males aged under 18-years-old can pay over £3,000 per annum for their policies, with this reducing by approximately half when they reach their 18th birthday. Premiums drop further when young male drivers hit 19-years as the average policy was found to be approximately £800.
A similar picture is found in regard to female motorists, with their premiums dropping drastically when they turn 18-years and 19-years old. Mr. Sweeney criticised the proposed bill, and instead supports a scheme that takes into account the driving skills of individual motorists. He explained that a fairer system would exist if drivers were
judged on ability rather than age.
"It is surprising these overnight price fluctuations still occur. Young and newly qualified drivers have long been perceived as high risk by the industry and often find it hard to get competitive motor insurance," he said.
"There is no doubt that the curse of the 'boy racer' lives on too; insurers view women as far more mature motorists at an earlier age."
Despite young drivers still being charged depending on their age, there is much that can be done to reduce the costs of their policies. The company recently encouraged teenaged car users to make sure their vehicles are as secure as possible, as this will have an impact on how much they pay for insurance. Cars fitted with immobilisation devices and alarms are less likely to be targeted by thieves and this is reflected in premium prices.
Older cars with smaller engines are an additional way to attract cheaper premiums and help money stretch further. Younger drivers are also advised to ask their insurer if they allow discounts for named drivers. Being named on a parent's driving policy, while also attracting no claims, can show insurers that teenaged drivers are safe and responsible. This can have a positive effect on premiums, as some companies offer discounts for claim-free named drivers.
Rochelle Martinez, Freelance Web Content Article Writer for three years. Some of her articles are about www.quinn-direct.com.
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