Impounded Car Insurance UK source seized car insurance policies. Seized car insurance is required release your car from the compound if your car has been confiscated by the police for a motoring offence.
Recent research has shown that car insurance premiums for young drivers are plummeting whilst premiums for over 50s are starting to climb up.
Conducted by Consumer Intelligence, the research shows that insurance premiums have fallen by 10.3% in the last year for young motorists. If current prices are compared to those of late 2013 there is a difference of 23.7%.
When looking at the figures for all motorists, the average premium didn’t really change – a small rise of around 0.3%.
Other stats have shown that whilst young people are recently seeing much lower car insurance costs, drivers over the age of 50 are being hit with bigger premiums than ever. The average premium for over 50s has risen by over 5%.
These drops are good news for young drivers, who still pay much more for their car insurance overall when compared to more experienced motorists. The drop is largely being credited to the rise of “black box” car insurance policies, where a telematics device is fitted to the car. The device can then report back to the insurance provider on the driver’s habits, such as speeding or erratic maneuvers.
It is thought that in the near future black box devices will even be able to turn down the cars radio if it is deemed to be too loud or distracting or even monitor the driver’s mobile phone to ensure they are not using it whilst driving.
Black box car insurance policies can often be up to £1,000 cheaper for new or young drivers.
