Younger motorists are set to find it more and more difficult to find attractive car insurance rates, according to what one insurance industry specialist has recently suggested. AA Insurance director, Simon Douglas, has stated that people that are searching for annual insurance cover in the lower age brackets will most likely face a severely reduced number of options in the immediate future and beyond, remarking that the number of car insurance companies that have expressed a willingness to insure such younger drivers is steadily dwindling.
Mr Douglas’ words came on the heels of a new report published by Mazars, which found that motor car insurance premiums for younger drivers is set to go up by as much as 50 per cent in the coming months. However, the car insurance expert did say that in some inner city locations, prices have already become completely unaffordable.
Mr Douglas attributed the rocketing rates to the number of car insurance claims made by the younger motoring set, as they have been increasing by record rates even though the nationwide accident rate has been falling steadily.
Meanwhile, this new information comes after the Transport Safety Advisory Council for Parliament announced, through spokesperson Robert Gifford, that they were heartened to see the government enact new Continuous Insurance Enforcement regulations. Designed to reduce the number of uninsured drivers that currently plague the roadways of the UK, the new law makes it illegal to keep an uninsured vehicle unless its owner files a Statutory Off Road Notification with the government.
Under the new law, violators can face an initial £100 fine for being found keeping a car without proper insurance cover. Repeated violations can lead to car clamping, seizure and destruction of the vehicle, and fines of up to £1,000.