Young drivers do not have to pay a 'premium' for Gap Insurance
Wirral, UK (PRWEB UK) 17 November 2012
Young drivers often struggle to gain affordable motor insurance premiums from insurers in the UK. Leading Insurance brand GapInsurance123 have issued a new guide that demonstrates that inexperienced driver may not be forced to pay a higher premium for Gap Insurance as well.
A spokesperson for GapInsurance123 explained that although young drivers do represent a higher risk in terms of accidents, this is not passed on in terms of having to pay higher gap cover prices with the brand.
"Motor insurance premiums have regularly been in the news in 2012. There has been a general rise in motor insurance costs over that last few years, and even experienced drivers have felt the difference. Of course younger drivers feel this even more acutely, and indeed our team at GapInsurance123 often hear of inexperienced driver motor premiums of several thousands of pounds.
In response to many customer requests, our brand has released a new guide into Gap Insurance for young drivers, and we have it displayed on our website. In it we do highlight the statistics provided by the Royal Society for the Prevention of Accidents that highlight that younger drivers are a higher risk generally.
For example 1 in 5 teenage drivers will have an accident in their first year of motoring, and an 18 year old driver is three times more likely to have an accident than a 48 year old*. Therefore is may be fair to assume that the risk is higher with a younger age group.
However, as the GapInsurance123 guide shows, when it comes to Gap Insurance premiums then the same differential does not apply. A driver of 18 years old will pay exactly the same price for Guaranteed Asset Protection, as a 48 year old with 30 years driving experience. Of course the risk is higher risk with a younger driver, but our underwriting insurer simply spreads the risk across the board.
We hope that this means Gap Insurance appeals as extremely good value for all, and indeed that our brand's new guide makes this point clearer for UK consumers."
GapInsurance123 is a leading UK supplier of Guaranteed Asset Protection cover for vehicles, and were featured in the Which report into the insurance in 2012.
*Figures Supplied by the Royal Society for the Prevention of Accidents