Car insurance news -
12/08/2009
Young drivers pay top price for lowest cover
Latest research has shown the cost of car insurance for young drivers rose at the fastest rate of all motoring groups between April & June 2009 as the average cost of a third party fire and theft policy, most often chosen by young & inexperienced motorists, rose by 4.6% to £968.22.
The annual cost of a comprehensive car insurance policy hit £778.13 - an increase of 3.5%.
These figures mean that premiums are rising at the fastest annual rate for nearly ten years, increasing by 11% last year.
A spokesperson for Hoot, specialist provider of car insurance for young drivers, said, "These figures pose a serious threat for inexperienced motorists and could see the issue of motor cover becoming a very vicious circle. If rates continue to rise, more drivers may be tempted to drive without full insurance and this in turn bumps up the honest motorist's premium."
Car
Insurance News Archive