A new plan has been launched by the insurance provider Young Marmalade. In this plan the british drivers in the age group of 17 to 25 are discouraged to take theoir vehicles out on the road from 11 pm to 5 am in the morning. According to the Association of British Drivers, this plan will be popular in the coming future. F someone takes an insurance policy under such a plan, they will be fined if they break any of the rules. The company would fit a GPS device in the car that will notify when the car is taken out during the restricted hours.
Every time the rule is broken, the insurance taker will have to pay $45. The fine will be charged automatically. The policy will work but there are chances that the people who are at the high risk of getting caught in an accident may not even take this insurance policy. This will deter the effectiveness of the policy. Despite of this fact, the plan is expected to gather a number of takers and thus reduce the total number of claims made in a particular year. According to the latest data, the cost of the car insurance has gone up by 14%.
The average quoted premium for a car insurance policy with comprehensive cover is around £821. This means that young people are facing difficulty in getting insurance polices as they are too expensive for them. The car insurance costs have gone up for all age groups and this is a problem. This plan is coming up as a boon for the young people and they are happy about it. It is expected that the youngsters will take up a policy from the car insurance comparison sites and save money. The insurance takers are advised to take this policy and make savings.
Get low cost insurance when you use car insurance comparison sites online to compare insurance quotes.