Insurance -
Young charged extra for car cover due to 'more likely' accidents - 01/02/2008
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Young people have to face facts and accept that they will pay extra for their car insurance, the Association of British Insurers (ABI) said today.
Insurance providers generally charge extra to younger drivers because they are more likely to be involved in an accident.
The Daily Telegraph reported last month that several car insurance firms, including Axa and Halifax, are so put off by young drivers' risks that they issue blanket bans on 17-year-olds attempting to take out cover.
Malcolm Tarling, spokesperson for the ABI, said: "The cost and availability of insurance for young drivers is an issue and there are some insurers that feel unable to offer cover for them for the simple reason that they are much more likely to be involved in an accident."
He added: "But you cannot get away from the fact that you have to charge a premium to reflect the risk and for some insurers - not all, but some - they will find that that risk is just so high."
The ABI advises that young drivers shop around in order to find the best cover deal possible, despite the fact that they will be paying more.
Pass Plus, a 'deluxe' driving test, is also recommended for youngsters to take in order to prove to car insurance firms that they are capable of safe road use.
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