Insurance products for UK residents

Car Insurance premiums rocket

The article in the Daily Mail (see article list) is an extreme example of the prices that young male drivers will have to pay to insure their car if they have a non-standard record.

Whether this is a consequence of the ECJ Gender ruling or not is to be seen but We have already commented that insurance companies will only like the best young male drivers between now and December 2012 and that many will be forced off the road.

Is this fair? The person in question had had an accident that was caused by potentially bad driving (skidding on black ice) and if a third party is involved the costs are likely to be excessive. (factor in car hire costs, solicitor's costs etc). On investigation, they could quite easily exceed the 24,000 premium quoted.

Obviously the driver should consider a smaller less-powerful car until they hone their driving skills however the premium quoted was certainly an eye-opener.

No doubt there are several specialist young driver schemes available in the market and another insurance broker may be able to help him with the cost of his car insurance.

For more information contact JB Portwood john.portwood#portwood.co.uk

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