Cobra UK believes that unless motor insurance costs come down over the coming years younger drivers will avoid learning to drive, which will drastically reduce their ability to get their first job.
The Departments of Transport's National Travel Survey 2010 issued last year revealed the scope of the problem. It said only one in three (35%) of 17-21 year olds have full license, and out of the 65% who don't have a license , 34% said insurance costs were preventing them from learning to drive.
"With young male drivers being hit the hardest with premiums of £5,000 commonplace for their first car, something must give soon or a generation of youngsters between 17 and 21 will simply not be able to afford to drive even if they want to", explained Andrew Smith, managing director of Cobra UK. Cobra already provides the technology that powers the Co-Operatives's Young Driver Insurance, which along with similar schemes should give insurers the ability to drastically reduce the cost of insuring the car.
Autosounds are also involved as in installer for the young drivers insurance scheme with the AA and a few other major insurance companies, if you require further information please don't hesitate to contact us on 0191 2736100 or email info@autosounds.co.uk
Best regards
Steven Coates
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