Research by Young Marmalade, the specialist motor insurer for young learner drivers has found that the majority of learner drivers are paying over the odds when being added to their pre-existing parental policies.
300.000 learner drivers have no insurance
The research revealed that a staggering 86% of insurance companies are cashing in when being asked by parent policy holders to add siblings to their motor insurance.
Young Marmalade say that a typical 17 year old learner driver, is likely to be charged at least £2,000 to be added to parents motor insurance policy and depending on the type of car being insured, could pay as much as £50,000 per year for the privilege.
The report says that the high cost of insuring young learners has led to the current situation where over 300,000 learner drivers are driving illegally on the UK roads as they have no insurance cover at all.
As posted recently on UK-Insurance-News many young drivers are choosing to take the risk of being involved in an accident as the fine for having no insurance is pitiful when compared to the cost of being legal.
While practically two thirds of the UK agree that driving without insurance should carry harsher penalties, there are others that are looking toward the insurance industry to offer a practical but innovative approach to the problem.
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