Younger drivers 'could be priced-out' of insurance market
Published On 19 March 2007
Increases in the number of deaths and accidents on the roads involving younger drivers could mean this generation finds it impossible to obtain car insurance in the future, according to an industry expert.Co-operative Insurance (CIS) has warned that 35 young people are killed or seriously injured on the UK's roads every day.
Unless something is done to reduce this figure, the generation risks being priced out of the car insurance market.
Because of the rapid increase in the rate of driving accidents among people aged between 18 and 25, insurance premiums for under-25s has increased by 22 per cent over the past three years.
"If this trend continues many young car owners will be unable to afford insurance and that will inevitably lead to a rise in the number of uninsured motorists on the roads and that would have major consequences for us all," David Neave, CIS director of general insurance, warned.
"We believe that education is key to reducing the number of young people killed on our roads each year."
Recent research has also suggested that playing computer games that involve car racing may encourage young drivers to be more reckless when they get behind the wheel for real.
