A father from Bradford bought his son a car for his 17th birthday and found that to insure it for third party, fire and theft would cost him in excess of £9,000. One quote came in at a staggering £26,000.
Research has shown that 93% of young drivers feel that they are given unrealistic quotes and for many this will mean not being able to own a car.
Young drivers are thought to be most at risk of being involved in an accident and as a consequence are charged more for their insurance.
Unfortunately no matter what your age it seems insurance premiums are set to continue rising, with more and more people being unable to afford to have their car insured.
The very high cost of settling injury claims and the rise in fraudulent and exaggerated claims means that everyone is paying more.
What is most worrying is that drivers may drive with no insurance making them even more of a danger on the roads and in turn increasing the premiums for drivers that do pay. This is fast becoming a vicious circle and many MP’s are calling for action to be taken.
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