Why is it getting harder to find car insurance for young drivers?
A number of car insurance providers have ceased to cover less mature drivers, so it is now essential to search around for car insurance for young drivers. A spokesman for the ABI, The Association of British Insurers stated that the reasons that certain companies had ceased to insure younger drivers was simply that they were far more likely to make a claim than older drivers.
These claims accounted for a disproportionate amount of money paid out by insurance companies when compared to more mature drivers, this according to ABI representative Malcolm Tarling.
UK government statistics show that back in 2004 there were over one hundred and fifty deaths of drivers who were aged sixteen to nineteen.
As a result of what insurance company’s see as a greatly increased risk, they have steadily increased premiums to match that risk, but now many companies are simply turning their backs on providing car insurance for young drivers, and not issuing them with policies.
It has been very well documented that younger drivers are considered by insurance companies to be very high risk, they...
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