Cost of Car Insurance Going Up

For any driver looking to get insurance for them and their vehicle there are a number of considerations that determine the cost of their insurance. How long the driver has been on the road for, how many accidents they have had and their age are often the key factors that can give the driver cheap or expensive car insurance.

However, Government are considering placing a new law in place that will stop insurers discriminating on age. It is common knowledge that most accidents on the road are caused by new young drivers who are inexperienced and elderly drivers whose reaction times and driving skills have deteriorated with age. The insurance prices offered to drivers within these brackets reflect such statistics, with insurers charging young and elderly drivers more as they know it is these drivers who are more likely to cost them in claims. This seems a fair reflection and policy to take but the Government are now looking to implement laws that will stop young and elderly drivers being charged more because of the age bracket they fall in. If such a law is passed this will have a damaging effect on the car insurance cost of the everyday, safe driver who will be charged more to compensate for the young and elderly drivers now paying lower premiums. Hiking up the premium costs for everyday drivers will be inevitable for insurers as they look to maintain the revenue they receive whilst being forced to charge the most high risk drivers less.

With car insurance premiums likely to be on the rise car insurance comparison is more important than ever for drivers with every type of insurance likely to increase from classic car insurance to performance car insurance. This is likely to make cheap insurance much harder to find meaning drivers will have to look much harder to find a great deal.

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