A big challenge for young drivers is purchasing car insurance without having to rob the “bank of mum and dad” to pay for it.
Men and women aged 17 to 25 face an almost insurmountable struggle to obtain cover for numerous reasons.
Many insurance companies do not even want to provide quotes to people in this age group, no matter what type of car, and those that do, do not really want to, so they quote a rate so high that many young drivers will find themselves paying more for insurance each year than the value of the vehicle.
Statistics however support insurers decisions as a teenage driver is up to 3x more likely to be fatally injured in a traffic accident than someone in the 25-64 age range.
While such statistics cannot be argued against, insurers branding all young drivers with the same brush does nothing to encourage such drivers to insure their vehicles leading to more and more taking a chance and driving around without the necessary legal minimum requirements.
It would be good to see some intervention or sensible thinking applied by insurers and the Government to address what is tantamount to unfair victimiisation of the young.
After all, young drivers involved in accidents and found to be at fault that do not carry the mandatory insurance requirements will often result in claims through the Motor Insurance Bureau (MIB).
And who is legally obliged to contribute to MIB? – the insurance companies of course!
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