Cost of insurance sores for young female drivers
Posted on 18 Oct 2013
The introduction of the 2012 EU Gender has seen insurance rocket for young female drivers as insurers are now unable to use gender when producing insurance quotes. Average quotes for 17 to 20 year old drivers stand at £1,862 up by £155 on the previous year. To try and compensate for the increase drivers are encourage to look at cars in lower insurance groups, including the KA Studio, to reduce premiums.
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Dramatic price increase
Twelve months ago the difference between young male and female drivers was an average of £1,607 per year, but has fallen by over £1,000 to just £483 due to the new legislation. Even though statistics show young female drivers are less likely to have an accident against males of the same age, this cannot be taken into account when companies produce insurance quotations. Commenting on the increase, Moneysupermarket.com stated “Young female drivers are currently experiencing the impact of the ruling, whilst young male drivers are seeing the benefit”.
Look to reduce insurance quotes
Modern technology including installing black boxes to a car that monitor driver habits and style can reduce the cost as they take into account factors including speed and late night driving. This can be helped by looking at which of the 50 insurance groups your car falls into and choosing a car in the lower sections such as the Ford Ka Studio,
Shop around for quotes
Spending time looking at different quotes using comparison websites can help reduce car insurance costs. Savings have been known to up to several hundred pounds - however be careful to compare like for like quotes. Some policies may seem cheaper but when may not offer the same levels of cover when it comes to making a claim.comments powered by