West Craven

Should the Cost of Insurance Be Capped for Young Drivers?

MPs recently debated whether the cost of insurance for young people between the ages of 18 and 25 should be capped at &1,200 a year, following an online petition that was signed by 185,000 people.

So-called e-petitions are hosted on the parliament website, and require 100,000 signatures to be considered for debate.

The debate comes shortly after a rise in car insurance premiums, as a result of a government decision to change the injury compensation rules. Insurance providers will now need to pay out more to the victims of an accident, which in turn means they are expected to increase premiums.
 
Rhys Parker the 19 year-old who started the e-petition, said it was becoming harder and harder for people aged 18-25 years of age to start driving.

MPs were informed that the average premium for a 17 to 20 year old driver is &3,878 a year.

Debates brought to parliament by E-petitions are for discussion only, meaning MPs do not have the power to introduce a limit on premiums.

The debate will be opened by Steve Double, the Conservative MP for St Austell and Newquay.

"I don't support the cap, but I do think we should be doing more to help young people," he said.

"The reason premiums are high is that young people have far more accidents."

However, in response to the issues raised by the petition, the government have advised that reforms to whiplash rules will result in lower premiums.

It also advised that usage of black boxes, which monitor and reward good driving habits, can bring the price of your insurance down for safer drivers.

Are you a young driver looking for the perfect insurance policy? West Craven can help! Get in touch with an expert member of our team today!

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