You are here: Home - Insurance - News -

Young UK drivers less likely to make motor insurance claims

0
Written by:
31/03/2010
British drivers under the age of 25 are less likely to claim on their car insurance than those in some of their European counterparts, including those in Spain, France and Germany and are considered a better insurance risk overall.

According to research from Axa, motorists under the age of 25 years old in the UK are more than 30% less likely to claim than those of a similar age in Spain or France and around 25% less likely to claim than the under-25s in Germany.

They are also less likely to speed on a motorway with 24% of drivers under 25 years in Britain admitting to significantly exceeding the speed limit on the motorway against a European average of 38%.

The research though also revealed that 52% of under 25s in the UK know someone who was involved in an accident last year underlining the fact that, while they may be better than others in Europe, young drivers in the UK are still high risk. In fact, a report from the ABI last year showed that young drivers are 10 times more likely to be killed or seriously injured than more experienced drivers.

As a result of the generally higher risk, the cost of young driver car insurance is generally higher than that for older drivers.

Craig Staniland, AXA Insurance director for motor said: “Young drivers are more likely to indulge in dangerous behaviours than others and more work needs to be done to educate them about the risks.

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Could Facebook increase home insurance premiums?

Homeowners could see a hike in the cost of their contents insurance as a result of criminals trawling social networking...

Close