Reduce the cost of insurance cover for younger drivers
December 30, 2007
Over recent months the insurance industry has been fighting back against the illegal process of fronting. This is where a younger driver has his or her car insured under a parent’s name in order to keep the premiums down. However, this is not only illegal but also means that the driver is unable to build up any no claims in order to enjoy cost effective insurance in later years. One insurance company, however, has been highlighting ways in which younger drivers can enjoy lower premiums in their own name.
Young Marmalade specialises in providing insurance cover for younger drivers, and has pointed out that a little extra investment in providing a safer car for younger drivers can save a lot of money in the long term on insurance premiums. With a safer vehicle younger drivers are less likely to have an accident, and can therefore avoid the financial penalties of having to make a claim on your car insurance.
The insurance firm states that whilst many parents buy their kids cheap cars to start off with, this can prove to be costly in the long term because of the increased risk of accidents. Some of the factors that can contribute to accidents and claims include lack of power steering on vehicles, dodgy heaters that do not effectively clear steamed up windows, poor headlight performance, and poor braking systems.
Young Marmalade is offering lower insurance premiums to young drivers with a better quality car based on the fact that an accident is less likely to occur in a safer, higher quality car than in a cheap, old car, and therefore a claim is less likely to be made.
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