Labour recently put forward proposals to provide discount car insurance for young drivers if they would limit using their cars just to get to university or their place of employment in an attempt to reduce massive car insurance rates crippling younger Brits.
The cost of motor car insurance has risen to astronomical levels, Labour MPs are saying, with many younger motorists being priced out of driving altogether due to unreasonably high costs. They proposed cheaper car insurance for ‘work journeys only’ to those younger drivers between the ages of 17 and 24 proven to be responsible in order to help them stay in education or take up job offers.
The insurance industry, while not turning down the idea outright, did have concerns that such a scheme would be impractical to implement. Insurers say that those drivers under the age of 25 pay higher premiums because they have a statistically higher likelihood of being involved in an accident than older drivers, with men aged 30 to 59 five times less likely to be involved in a crash than those under the age of 25.
Young people have cited cuts to bus services, rising train fares, and rocketing insurance costs as the key issues making it hard to find a job or attend classes regularly. Offering less expensive cover for ‘specified’ trips to university or work would not only aid younger drivers get and keep that job or continue to take classes, but also allay the fears of insurers about late-night driving and its link to heightened accident figures, Labour MPs have said.
John Woodcock, shadow transport minister, said that as many barriers as possible need to be removed in order to make it easier for the nation’s one million younger unemployed Brits to find gainful employment.