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