If you are a driver then you have probably already noticed how much your insurance premium has increased by this year. If you haven't yet had your renewal then you have your surprise yet to come. The significant increase in car insurance renewal premiums this year is due to a number of factors, one being the European ruling that male and female drivers must be treated equally.
This and other factors have meant the amount many of use are now paying for our annual policy has in many cases doubled. Many drivers have been complaining of increases of thirty percent and above even after searching for a cheaper quote. Think yourself lucky, if you are renewing your business vehicle insurance the premiums have increased even higher. Many small businesses are finding that their quotes for van insurance in many cases more than double that of last year. Trying to find cheaper quotes seems to be almost fruitless.
Of all the groups of drivers it is the young driver that has been hit the hardest over the last few years. For someone who has just passed their test it is now normal to expect to pay more to get insured than you paid for your car. The old trick (illegal I might add) of fronting the policy with a parents name no longer works. Try adding your son or daughter to your own policy and you will find the premiums just as steep.
Over the past year or so there has been increased interest in daily insurance whereby a driver insures themselves to drive by the day. This type of policy has been available in the UK for about 5 years but until recently has been relatively unknown to the general public. It allows drivers to get insured for as little as one day and cover can start immediately.
As it is becoming increasingly more difficult to get insured as a young driver younger people are turning to daily cover in order to be able to drive legally. There is of course still a growing minority of which choose to drive illegally without insurance and risk a hefty fine, points and a criminal record.
Without being able to afford to get an annual policy more and more young drivers are choosing to selectively insure themselves as and when they need to drive. Where many under 21 year old drivers do not rely on a car for work they are insuring themselves for the day or weekend in order to be able to drive as and when needed.
Of course daily car insurance is not the perfect solution to over priced policies and the fact that young people are now effectively priced off the road but it does allow them to drive legally when needed. A policy can be obtained at any time online and cover is immediate. Policy documents can be printed off on a home printer and taken with you.
Under 25 Insurance
Daily Insurnace News