- 25
- Sep
While many males might be ecstatic about passing their driving test, they may be in for a sharp comedown when searching for car insurance cover.
According to the AA, young men can now expect to pay twice as much as their female counterparts when insuring their first vehicle, showing that the difference in policy costs between the genders has widened further. Furthermore, while policies for male drivers were found to have inflated steadily since 2003, women have enjoyed falling premiums, with the gap between typical policies between the sexes widening by 59 per cent in the last five years.
The AA claimed that this rise seems to go against an overall decline in the number of injuries and fatalities on British roads. However, it noted that while the total number of accidents continues to fall, the proportion of these which are caused by young males continues to grow. Backing up the statement, the group pointed to statistics released today (September 25th) by the Department for Transport which show that while traffic levels increase, the number of injuries and deaths resulting from car accidents has fallen. However, the number of these which are caused by under-25s has increased more than four per cent, from a quarter (25 per cent) in 2000 to 29.1 per cent today. And of these, 63.4 per cent of accidents involved males.
For those who are struggling to meet the costs of keeping a motor on the road, taking out a car loan may prove an effective way to meet costs. Indeed, for those who are planning to purchase a new vehicle, taking out this type of loan may allow people to take out a comprehensive car insurance policy to avoid being caught short of cover in the event of an accident.
Advising those who have recently passed their tests, Simon Douglas, director of AA insurance, commented: “Regardless of gender, premiums quickly fall for drivers who remain accident blame-free and dont collect driving offences. After the first year, the premium falls by around 30 per cent and continues to fall over subsequent years provided their record is clean. In fact, a young person passing their test at 17 can expect the premium they pay to fall by up to 80 per cent by the time they reach age 21, assuming they are driving a similar vehicle and keep a clean driving record.”
Furthering this, the car insurance provider urged new drivers to make sure they drive sensibly and avoid committing driving offences such as speeding, which will have a substantial upward effect on premiums. Furthermore, car cover costs can be cut by carrying out a post-test training course such as the Pass Plus programme, which helps drivers to expand their competence behind the wheel in a number of different scenarios.
Drivers who are looking to purchase a new vehicle may wish to take out a car loan to cover costs. In doing so, people may find they are able to purchase more robust insurance policies, as well as more easily able to cover petrol costs. According to Saga, the recent fuel price rises have caused many drivers to resort to desperate measures, with 15 per cent of people trying to spread the weight in the vehicle in the belief that it would reduce consumption.
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