Classic car insurance for young drivers
In the 21st century, any tendency towards stereotyping is seen as something of a character deficiency. In a world of political correctness, it comes across as cynical, crass and even judgemental.
That’s a problem for insurance companies, which after all must play the numbers and probability game if they are to survive and which are constantly being forced to answer accusations of ‘stereotyping’ (the most recent being sexism) when in fact they are merely highly efficient assessors of mathematical fact.
Young drivers are a good case in point. It is a fact that a young (under 21) male driver is 10 times more likely to have an accident than a male over 35.
Or how about these snippets…
According to the Department of Transport, in 2007 a whopping 40 per cent of fatalities or serious injuries in traffic accidents were sustained while a young driver was at the wheel.
One in five young drivers will have an accident within the first year of holding a licence.
Facts such as these go on and on. They are the reason why young people pay dearly for car insurance – and they also bring us to an interesting question, that of classic car insurance for young drivers.
There is actually a great deal of debate going on in the UK marketplace on this subject at the moment, and that is healthy because it means that the supply and demand dynamics of online car insurance comparison will eventually ensure that this kind of thinking is duly reflected by the market in terms of its product availability.
What kind of thinking?
Well, let’s return to stereotyping for a moment. Classic car insurance for young drivers? Why on Earth would a young driver want a classic car insurance policy?
Why indeed? Aren’t young people supposed to be into hot hatches? Don’t we frown upon this and encourage them to drive those small one litre things?
The truth is that we do, but here’s the thing. One of the reasons that the baby boomer generation was not unduly crippled by car insurance quotes was that it had access to nothing more than the vehicles of the day. And compared even to today’s economy supermini, they were generally pretty slow.
Now let’s return to the idea of classic car insurance for young drivers, surely (so the thinking goes) it is a valid observation that if a young driver is prepared to accept the limitations of an affordable low group classic car, then he or she ought to be allowed some discount for doing so. Surely classic car insurance for young drivers should be a mainstay of the industry.
There are actually companies out there that are beginning to see it that way and it is a good idea to get online, compare policy with policy and quote with quote if for no other reason than to keep abreast of what is currently on offer.
You’ll probably find that at the moment, with at least one or two exceptions, classic car insurance for young drivers is still at the stage of leaning cover towards the ‘second car’ and the policy may not be so cheap if the vehicle is in main use. But the companies are out there, and insurance attitudes are changing for the better.
In fact you can rest assured that if online car insurance comparison identifies demand, there will soon be a policy out there to fill it.