overview of insurance sector

overview of insurance sector
cash-strapped young people are hit with a big chunk of the national car insurance bill. In spite of only seven percent of the motor insurance market, young drivers pay 22 percent of total premiums.

Research from a price comparison website shows the average premium for young drivers (aged 17-25) £ 989 - which is more than double the national average of quotes from the "shopping around online for £ 459th, it is possible that the motor insurance could under fire for this gap in premiums as the government introduces a new Equality Act, which for the fight against age-based prejudice.

However, insurers have taken on the bill again point out that their contributions are of risk factors and statistically young drivers are in far more accidents than their more experienced colleagues.

With premiums so high, it is important that young people are no mistakes when buying a car. For example, the choice of the "GTI" variant of the Peugeot 206, the premiums of more than £ 4,000 for a young driver. Indeed, young people in areas of high risk - with high crime or accident rates - could pay as much as £ 14,600 to obtain comprehensive coverage for a second hand car like a Golf GTI, even if the vehicle is less than £ 5,000 to buy.

While young drivers have aspirations of sports cars, they should base their decisions conventional vehicle, at least at first. Pick up a car with some modifications and a small motor. Then, to build a non-claims discount - several insurers offer rapid bonus scheme to young people to earn full year's rebate in about nine months.

It is of crucial importance for young people to opt for cheap car insurance - comparison websites is the easiest way to a series of car insurance offers