Cheep car insurance companies are on the rise in the UK, which is good news for young drivers. Many smaller and internet-based insurance businesses are exploring ways in which they can get the young driver market and create great policies that would suit their pocket, one way or another.
Most young drivers probably don't know the statistics and research that shows that young drivers are, in fact, more reckless than drivers in any other age group. They might be wondering if the rates are actually fair or not, especially since it cannot be that all young drivers are such bad drivers.
However, 42 percent of road accidents in the UK are the direct result of young drivers' reckless driving.
Examples of this include a young driver who was jailed for 13 months in Burntwood for powersliding around a traffic island. Not only was the driver being so reckless, but he also had no insurance for his car. This, coupled with a host of other lawful infractions, led to his arrest and imprisonment.
A similar antic was tried by a 23 year old in January of 2009, who had a lighter sentence due to a number of factors, but nevertheless was banned from driving for 12 months and told to pay up a fine of £600.
These are, unfortunately, not exceptions. The research also shows that young drivers under 25 are to blame for 35 percent of drink-driving collisions, and of the uninsured cars on the UK roads, 50 percent of them belong to young drivers under the age of 29.
Accidents involving uninsured vehicles costs the insurance industry £500 million a year, which is why the average monthly premium price rises £25 to £30 every year. On average, UK motorists are now paying about £780 a year for insurance. The price hikes are largely because of the uninsured vehicles, meaning that if you decide to chance it with the law you are hurting yourself and everyone else in the long run.
Norwich Union's own research has shown that 52 percent of young drivers (now under the age of 21) spend approximately £500 on their first car. This is not a great deal of money, and so many of these cars are not roadworthy. One can understand the fact that young people don't have that much money, but the real problem comes in when the research shows that 40 percent of first time buyers don't perform any roadworthy checks on the car until the MOT certificate is due. This means that there are many unsafe cars on the road.
But, despite all this, many insurance companies in the UK are beginning (and have) formulated various plans, schemes and programs to help young drivers get cheep car insurance. These schemes include dropping premiums from 30 to 50 percent if a young driver has not claimed in the first year; giving discounts for advanced driving courses like the Pass Plus; or even allowing the driver to insure the car under their parents' or older relatives' name.
These insurance companies are trying to get in on the young drivers market and are doing a good job of it too. Because many of them are internet-based businesses, the internet is the best place to find them.
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