MPs to debate £1200 insurance cap for under 25s.

MPs to debate £1200 insurance cap for under 25s.

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xjay1337

Original Poster:

15,966 posts

118 months

Wednesday 22nd March 2017
quotequote all
http://www.bbc.co.uk/news/business-39327089

What do you think?

PS Sorry if discussed elsewhere.

xjay1337

Original Poster:

15,966 posts

118 months

Thursday 23rd March 2017
quotequote all
My own personal view is that insurance could (not necessarily SHOULD) be capped however it would have to be done on a certain insurance group of car

For example, Citroen C1 / Aygo type vehicles or other vehicles generally up to say 1.2 or 1.4L and say around 100bhp.

Insurance prices are ridiculous for young people, £2000+ in most cases even with a black box so it would be a good idea.

The other suggestion someone made of a partial refund of a policy in the event of no accidents isn't as stupid as it seems.

For example, insurance policy for £2500
Maybe for the first 2 years of driving you get a percentage back, not 50% as that's too high IMO, but say, 25%?

There is a lot of pressure for young people to be independant - Move out young, get a job, etc, but often you need a car to get to work.

An apprentice at my company has a Moped currently and also a 1.2 Corsa which is currently looking to be around £1700 with a black box for the year. Still a lot on a car barely worth £1700! Yes I get the risk is of third parties as well, but still..