Young drivers news
07/11/2008
Fully comprehensive car insurance cost is soaring
Young drivers insurance premiums have been found to be far higher than the national average in a study just published by leading UK motoring organisation, the AA.
Fully comprehensive cover has jumped three per cent to £724 in the past quarter and 7.6 per cent in the last year - and for cheap car insurance, young drivers have faced similar increases.
AA insurance director Simon Douglas said inexperienced young drivers, especially males, can pay up to double that of females of the same age. Young men tend to make much larger claims.
For motorists over 30 years old, the average claim is £1200 for women and £1400 for men. Research shows average car crash claims for young women tend to be £2700 while for male youngsters, the cost can be almost £4500.
Despite the apparently high cost of car cover, Mr Douglas said car insurance companies were still making losses.
He said, "For every £100 taken in premiums, more than £105 is paid in claims. Insurers are particularly concerned about increasing legal costs and personal injury claims which last year rose by 22 per cent."
For cheap young drivers car insurance, parents and their sons and daughters are advised to shop around - and then ring Hoot who will aim to beat any quote issued.
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