You are here: Home / Archives for resarch show insurance for young female motorists has risen

Female drivers feel the pinch after being hit by hike in insurance rates

May 14, 2010 By Katrina Campbell Leave a Comment
female-driver

Recent research has revealed that young female drivers are really feeling the pinch after being the worst hit from the rise in insurance rates.

According to the survey conducted by a car insurance price index company, over the last 12 months car hire insurance prices have soared by 14.3% with the average cost of car insurance now standing at £524, which is up £66 when compared to the same period in 2009.

Traditionally female drivers have always benefited from lower insurance rates in comparison to men as statistically, they are involved in less accidents, meaning women are seen as a lower risk than men. However the recent figures showed that females aged between 21-35 were experiencing a rise in insurance cost above the market average.

Some experts believe that insurance companies are trying to narrow the gap between young male and female drivers with the sudden surge in rates of insurance for women drivers in this age group.

As claims costs are continuing to rise, industry experts warn that we haven’t seen an end to the increase in insurance premiums.

Due to the increase in insurance prices across the board, more and more people are said to be turning to price comparison sites as they shop around in order to seek out the very best deal available.

Filed Under: All News, Featured News Tagged With: , , , ,

Young female drivers more likely to break the speed limit?

April 30, 2010 By Fiona Clarke Leave a Comment
Young women more likley to text behind the wheel a survey has revealed

A number of insurance companies are considering restructuring their pricing system for young female drivers after a survey has revealed that women drivers are more likely to break the speed limit, and use a mobile phone behind the wheel, compared to male drivers.

The results of the study shatters the long held perception that young male drivers are the worst culprits when it comes to speeding and other dangerous driving acts. Traditionally young female drivers enjoyed lowers rates of insurance when compared to their male counterparts as they were considered a lower risk group, however that could all be about to change following the publication of these survey results.

The survey results revealed that 48% of teenage girls are likely to drive 10mph over the speed limit but only 36% of men admitted to speeding. 16% of the teenage girls questioned said they would consider themselves to be aggressive drivers, which is up 9% on the results collected in 2005.

Another worrying statistic which the survey threw up was the increasing number of drivers who are using their mobile phone while driving. Over half of the young women questioned through the online survey said they are likely to text or talk on their mobile while driving compared to just 38% of the young men.

Filed Under: All News, Car Insurance News, General Insurance News Tagged With: , , , , , ,

Uninsured drivers and fraudulent claims pushing up the cost of cover

January 30, 2010 By Samantha Lewis Leave a Comment
car-accident

The cost of uninsured drivers and fraudulent claims is estimated to stand at £2 billion, which is pushing up the cost of motor cover for all UK drivers.

Market research carried out to investigate the effect of uninsured drivers and fraudulent claimants took into account 100,000 insurance quotes and calculated that drivers will face a rise of £2 billion on the cost of insurance when compared to the same time last year.

It’s been a bad year for motorists on the whole as figures revealed that insurance premiums have risen by 20% in the last 12 months.

Taking all of this into account, the insurance group AA say the cost of comprehensive cover has increased by 18.7 in the last year which means drivers are faced with premiums of on average, over £1,000.

Uninsured drivers are said to exasperating the situation with companies having to deal with 30,000 claims a year carried out by drivers with no cover. Out of the 1.5 million uninsured drivers on UK roads, half of these are under the age of 29.

It’s been suggested that the high cost of car insurance for younger drivers is playing a significant role in preventing these motorists from purchasing cover as they simply can’t afford it. Also the penalties for drivers who are caught without insurance are very low in some cases, with fines costing as little as £50, meaning there is not a strong enough deterrent in place to warn these motorists off driving without insurance.

Filed Under: All News, Car Insurance News Tagged With: , , , ,