Young Drivers Can Make the Biggest Savings on Their Car Insurance
Young motorists in Ireland could make huge savings if they are prepared to shop around for the best young driver car insurance deals. These are the findings from a survey released by the Financial Regulator.
The report featured six different driver profiles for motorists in Cork, Carlow, Dublin, Galway and Meath and compared the insurance quotes offered to each group from eight insurers, with surprising results.
It was discovered that drivers in their 40’s could save €188 for comprehensive cover. One example used was a 46 year old male engineer worker who drove an €8,000 Renault Megane Saloon and had a 5 years no claim bonus. The highest quote offered for comprehensive insurance was €440 with the lowest being €252.
A female who fits a similar profile could see a saving of €164 if she was to look around for the best deals.
Motorists in their late 30’s can also make big savings it was found. An example for this age group was a 38-year-old civil servant who drove a Volkswagen Touran valued at €16,000. For comprehensive cover the quotes ranged from €840 to €426, a saving of €414.
Again, women drivers would see similar differences, from the highest quote of €803 compared with the lowest of just €358, another saving of €445.
It was also discovered that drivers in their late 20’s would start to see if bigger disparities between the quotes on offer to them for comprehensive cover. An office worker aged 27 years old who held a full driving licence for three years and drove a 2003 Ford Focus could save just over €700. The highest quote on offer for this profile of motorist was €1,663 compared to the lowest of €955.
Female drivers could also make a saving, but not as much as men could. The highest quote for a woman fitting the same description was €1,342 with the lowest being offered at €748.
However, it was for young drivers under the age of 25 years old where the biggest difference was seen. A 19 year old who had held a full driving licence for a year and drove a 2002 Open Corsa would be offered a quote as much as €3,449 for comprehensive insurance. The lowest quote was €1,633, which is a massive potential saving of €1,816 just by shopping around.
Novice drivers and people under the age of 25 face the biggest premiums as it is this age group and profile of driver that are involved in the highest number of road accidents. The savings are there to be found though.
Rochelle Martinez, Freelance Web Content Article Writer for three years.
Article Source: ArticlesBase.com - Young Drivers Can Make the Biggest Savings on Their Car Insurance