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Car Insurance -
Teenagers to be refused car insurance - 05/03/2008 |
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An increasing number of insurers have ceased to offer car insurance policies to teenagers. Axa, More Than, Swifcover and HBOS brands including Esure, Sheila’s Wheels and Halifax have all announced they will automatically reject all applications from 17 year old drivers.
It has been added that some may, in exceptional circumstances, allow them to be named drivers on parents’ policies but will not be permitted their own car insurance policy. The reason behind this move is to do with the ever increasing casualty rates among young drivers. Under 21s are ten times more likely to be seriously injured or killed in an accident than those aged 35.
Drivers between the ages of 17 and 25 are responsible for a third of all road deaths, Norwich Union’s motoring underwriting manager, Nigel Bartram said: "We are rapidly reaching the point where we have no option but to begin setting premiums at a level where we realise they are no longer affordable, and we will not be selling much cover."
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