The Institute of Advanced Motorists is beseeching parliament to work with insurance companies in order to deliver affordable van insurance for teenagers and those in their early twenties. For the self-employed individual hoping to make their mark in the world, finding a cheap van insurance policy to run in conjunction with a probationary period at work is becoming a very real burden on the young motorist’s shoulders.
IAM is calling upon the government to get into bed with insurance companies in order to assess exactly where cost savings can be made on the applicants request for van insurance, specifically those young drivers who go on to advanced training after they have their first lesson under their belt.
Typically, the average van insurance policy for a young male driver comes in at just under three thousand pounds per annum, with the female equivalent of a little less than £1,700, although that will be levelled in December when there will be no cheaper van insurance quotes as a derivative of gender. Either way, both prices are shockingly high compared to the average policy for those above the 17-22 year old parameter of £907.
Young drivers don’t make it easy for them selves
A select panel of MPs has been investigating the evidence by which young drivers are assessed and the results of a survey of 2,000 young drivers quizzed about their thoughts on driving, rather than actually driving the van themselves.
The survey showed that more than one in five drivers between 17-22 had considered driving without valid insurance of any kind, blaming the high cost for being prepared to have license points added if they were caught. Of those that have looked for cheaper van insurance, three in every ten young drivers have been tempted to provide false information to get a lower premium and run the gauntlet of having their van insurance worth nothing in the event of an accident, especially if the root cause is suggestive of the evidence they provided false information about.
It has long been accepted that the current driving test system – and more lately the Pass Plus – no longer reflects the way people drive. Indeed, of the 2,000 young drivers surveyed only 50% declared that they were totally happy to drive under their own steam, even though they had passed the necessary tests to legally place them behind the wheel.
Simon Best, IAM’s CEO, believes that the only way that young drivers will receive a cheap van insurance quote is by the age group collectively driving with fewer accidents; on van insurance claim evidence, that is a long way from actually coming to pass. He even suggests that the Pass Plus system is already past its sell-by date. He is calling for the government, road safety industries and insurance companies to come together to provide a product that is both affordable and will actually cover young male drivers in the case of an accident, which they are more likely to have than any other grouped set of drivers. We will have to see what comes to pass and just hope that they all act sensibly to produce suitable cover at an affordable rate for all young motorist, no matter what they drive and who for.
We’ll keep you updated for further information appertaining to this very real and costly issue.