Tel: 01992 471001
Motor insurance increases of at least 50% over the next couple of years will hit young drivers, according to insurance accountants and advisors Mazars.
Mazars predicts that the typical motor premium for a young adult will soon be £3,600, and warned that this will make driving unaffordable for many.
The firm added that this will have a huge impact on the young and those in rural areas without alternative public transport.
According to the AA, a typical motor premium is £2,431 for a young adult, 64% higher than 12 months ago.
Mazars insurance industry partner Craig Scarr said: “We are already seeing that younger adults are being priced out of car ownership and cannot afford it, and this will hit even harder over the next year as a typical premium for a young adult rises from £2,400 currently to over £3,600.”
Soaring rates in motor will cause more people to give false information to reduce premiums or drive uninsured, Mazars warned.
Uncertainty remains on whether the UK leaves the European Union without a Withdrawal Agreement (a ‘no-deal Brexit’), if this happens, UK motor …
6 Mar 2019
The Spotlight Theatre in Hoddesdon, Hertfordshire was the venue for last year’s ‘Ambition 2018 Sales & Marketing Conference’ as organised by big-hearted …
14 Jan 2019
There have been many occasions over the years where we are quoting insurance solutions for a new client or an existing renewal …
11 Jan 2019
