Recent headlines reporting that the cost of motor insurance has decreased by almost 3% over the last three months of 2012 mask an increase in young women’s car insurance
that has been the result of the EU Gender Ruling. Insurance comparison site Tiger.co.uk imparts advice on how to keep the cost of motor insurance for young drivers as low as possible.
Getting to 17 years of age provides millions of teenagers in the UK with the chance to get behind the wheel. But getting behind the wheel is seemingly not the rite of passage that it used to be. The cost of learning to drive, increasing fuel prices and high premiums for young driver car insurance
are all factors that are currently having a negative influence over the decision to take to the road.
The EU Gender Directive came into force in December 2012, coupled with changes to the way in which insurance providers make compensation settlements to serious accident victims, means that young drivers of both genders are unlikely to see a decrease in premiums in the very near future.
However, whilst insurance costs for young drivers are high, there are ways in which to tackle the issue. Popular insurance comparison site Tiger.co.uk has provided some guidance on how young drivers can get cheaper motor insurance:
- Think about motor insurance before buying a car. Purchasing a vehicle in a low insurance group can save money on insurance premiums and as an added benefit they also tend to have better fuel consumption.
- Shop around annually. There are many different insurance brands in the market offering different deals. Compare car insurance for young drivers from a range of companies rather than simply accepting a renewal quote. Tiger.co.uk features many brands that are offering quotes for young drivers.
- Consider taking out a telematics-based policy. There are an increasing number of insurance brands that are adopting this technology and this type of policy has the potential to take hundreds of pounds off your insurance. There are many types of telematics policies available that base prices on many different factors. Tiger.co.uk currently features eight insurance companies offering this type of policy.
Andrew Goulborn, Commercial Director for Tiger.co.uk commented, “Unfortunately for younger drivers it is a fact that they pay much more for their insurance than older drivers. But there are measures that can be taken to try to reduce premiums. We have published a guide on our site that provides even more tips on how to ensure that motor insurance is as affordable as possible. Things such as avoiding modifications, keeping annual mileage low and looking into telematics-based insurance can all play a part in helping to keep costs down. Of course, we would always advocate shopping around too. Using a site like Tiger.co.uk helps drivers of all ages to compare prices from a wide range of insurers, some of which specialise in young driver insurance.”