Quotes news
15/08/2011
Young male drivers face high cover costs
As a result of the ever increasing cost of fuel, finding a cheap car insurance deal has become extremely important in order to keep motoring costs down for UK drivers, but it is becoming increasingly more difficult for some groups of motorists to find low-cost cover.
The drivers who have been worst affected are young male drivers who face enormous car insurance quotes of an average £4,000 every year.
This may come as no surprise to many motorists, since young male drivers are typically viewed as higher risk road users who are more likely to be involved in car accident.
However, new legislation has made it illegal for insurance companies to discriminate simply based on gender from the end of 2012. This will hopefully lead to lower premiums for men, but women may well be expected to spend more.
A spokesman for a car insurance company has said that currently the cost of running a car for males between the ages of 17 to 20 is approximately £6,500 a year, which is half the average annual wage for a full-time worker at this age.
Motoring experts suggest that these extremely high costs could lead to more young male drivers making the decision to drive without insurance rather than give up their cars and this leaves law-abiding citizens at risk in the event of an accident with an uninsured driver.
The cost of comprehensive cover in the UK is now, on average, £170 more expensive than it was last year and £22 more expensive than it was three months ago. These figures seem to suggest that the cost of cover is swiftly rising.
Young male drivers will need to continue to wait until the end of 2012 to see whether they will be able to find cheap car insurance after the new legislation has taken effect.