Teenage troubles
I understand why young people have to pay more for their car insurance; they’re inexperienced drivers and, unfortunately, the statistics show that they are far more likely to be involved in accidents that are due to their own driving mistakes, than people of other ages. But some insurance companies seem to be taking the attitude that they’d rather not insure young drivers at all and are making it so impossible for teenagers to find affordable cover that they are forced to hang up their car keys for a few years.
Finding insurance can be as complicated and as confusing as tracking down a good deal on laser hair removal Asian skin and all! These online comparison sites can only help you if there are good deals out there, and many insurance companies are working together when it comes to deals for younger drivers to make sure that no-one is undercutting the competition.
This is how you get a situation like the one that was reported in a lot of newspapers this week – and it even made it to the BBC! One insurance company was quoting an astronomical £27,000 to insure 17-year-old drivers who had just passed their test, regardless of how powerful the car they would be driving is. This could lead to many teens paying way more in insurance than their vehicle is actually worth. It’s no wonder many parents are turning to a trick called “fronting” where they apply for the insurance, knowing that their children are going to be the ones driving the car most often. Of course, this will save you hundreds or even thousands of pounds, but the cost could be even higher if your teen is involved in an accident and it emerges they have been driving without insurance…
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