Motoring news - Labour propose lower car insurance quote for young drivers

Car insurance news - Labour proposes to reduce quotes for young drivers

The Labour party has put forward a proposal which aims to reduce the cost of car insurance quotes for young drivers amid fears that rising cover costs are pricing young motorists off the road.

The party has reportedly suggested that insurance providers should offer lower annual premiums to young drivers who only use their vehicles to get to work or college. Labour hopes that cheaper annual premiums for holders of young driver's car insurance will encourage them to take up job offers or to stay in education.

Although insurance providers have expressed interest in the idea, they have also revealed concerns about its practicality. Certain statistics reveal that male drivers aged under 25 are five times more likely to be involved in a road accident than men aged 30 to 59 years old.

However, Labour has suggested that the proposal could help to solve the current unemployment crisis.

John Woodcock, shadow transport minister said, "With over one million young people unemployed, we need to remove as many barriers as possible to finding work,

"The sky-high cost of car insurance for young people is making it impossible for those who need to drive to be able to take up a job opportunity or stay on in education and training.

"Instead of simply pricing young people out of driving, insurance firms could help responsible young drivers by offering a choice of cheaper products that provide insurance at specified time to those who need their cars for work, education or training and are prepared to avoid the situations where more accidents occur."

Ministers are already looking into altering driving tests to improve road safety which could potentially make the possibility of getting a good-value car insurance quote for young drivers a more likely scenario. In the meantime, young drivers may find they can save money on their cover by using a telematics-based insurer such as insurethebox.