Can Car Insurance for Young Drivers Protect Against Ego?

January 13, 2012, Press Dispensary. A recent report published by the Institute of Advanced Motorists (IAM) has shown that a staggering sixty two percent of novice male drivers think that they are more skilful behind the wheel than the average driver. Conversely, only thirty two percent of their female counterparts claim to have the same confidence.

This confidence seems to fly in the face of figures published on accident rates. According to statistics published by the Department for Transport young male drivers aged 17-29 are twice as likely to be killed or seriously injured on the road as young female drivers. This suggests that confidence among this group could be more to do with ego than with actual driving ability.

These statistics highlight why car insurance for young drivers (especially young male drivers) is priced at a premium. Because this group present s a greater risk to insurance companies, they end up paying more than other groups. For young women drivers who may have benefitted from being in a lower risk accident group previously, the new ruling on gender equality means that they will not be able to make savings on insurance because of this in the future – in fact according to Tiger Watch figures for 2011 it seems that the gender pricing gap may have already closed.

The IAM report showed that young drivers would be much more likely to take further training after a driving test if they were offered financial incentives. Seventy five percent of those interviewed said they would take further training if the cost of car insurance for young drivers was reduced as a result. These findings were supported by Simon Best, Chief Executive of the IAM who commented, “There are many paying thousands of pounds a year in car insurance and killing themselves. The solution to this problem is to link driver training with discounts on car insurance for young drivers.”

A spokesperson for the popular car insurance comparison site Tiger.co.uk commented, “We encourage younger drivers to undertake supplementary driver training to protect themselves on the roads. We work with many insurers who currently offer discounts if courses have been completed successfully. We work with over 140 brands, some of which offer specialist car insurance for young drivers. We also welcome the development of telematics based insurance products (otherwise known as ‘pay as you go’) car insurance which can sometimes provide more affordable options for younger motorists. Currently we believe Tiger.co.uk is the only car insurance comparison site that features four of these providers.”

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Notes for editors

About Tiger.co.uk:
Tiger.co.uk is a trading name of Call Connection Ltd. Tiger.co.uk is a UK based, independent car insurance comparison site, offering insurance quotes from over 140 motor insurance brands. Call Connection Ltd is authorised and regulated by the Financial Services Authority (number 308374).

FOR FURTHER INFORMATION PLEASE CONTACT
Jo Buck, Tiger.co.uk
Tel: 01473 418513
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Site: www.tiger.co.uk