Young drivers insurance news
26/03/2009
Many motorists buying cover by the Internet
The way to the best cheap car insurance for young drivers appears to be online as performance figures for one Internet-based insurer shows profits are up despite the economic downturn taking hold.
Admiral Group has reported profits up to £202.5m, an increase of 11 per cent on last year, indicating the online car cover business is profiting from the recession.
With many motorists trying to cut the cost of their insurance premiums, Admiral is not forecasting major hikes during the next year.
Such good news is perhaps surprising in the current economic climate. Having said that, it seems many drivers, young and old alike, are preferring to search for the best car cover deals via the Internet at home, rather than other more traditional methods such as via high street shops.
Many insurance customers are looking to online firms like Admiral and Hoot - a specialist in cheap car insurance for young drivers - to meet their car cover needs.
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