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Car Insurance: Mini motorbike offences drive up premiums. Page 2
Summary: Children who break the law on mini-motor bikes may be denied car insurance when they go on to gain their driver's licence.
Author: Bridget Carter
She says for example of how prosecutions can drive up premiums, take an 18-year-old boy living in Hove, East Essex. The youth drives a 2001 Ford Fiesta car. He has been prosecuted for dangerous driving and has only had his driver's licence for a short time. To obtain fully comprehensive cover under a Direct Line insurance policy he would pay annual premiums of £2473.80. Without the conviction the price would be £1908.90.
What is interesting about this is that if you take a female of the same age, driving the same car and from the same area, she would pay just £1218 without a conviction and £1576.05 if she had a driving conviction. So she would in fact pay less for insurance even with a conviction than a male her age without one. Why the difference in price between young men and women? The spokeswoman says that it is because statistics show that one in three young men have a serious accident within their first year of driving.
A spokeswoman at the Association of British Insurers says the chances are if you have been caught speeding on a motor bike you are going to be more at risk behind the wheel of a car than others. It's a known fact that young men are the most at risk of having a car accident, which is why they pay so much more for their car insurance.
“I think they make up 3% of the driving population but account for over 30% of all of the driving convictions. It depends on the insurance company, but we (the insurance industry) insure on risk and therefore we calculate our premiums accordingly.”