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Young car loans customers warned to insure vehicles
Nov 13 2008Young drivers applying for an unsecured car loan to help fund the purchase of a new vehicle are being urged to take out insurance before they hit the road.
According to a report published by the Institute of Advanced Motorists (IAM), younger male motorists are most likely to drive without insurance cover or a driving license.
Neil Greig, IAM motoring trust director, revealed that 60 per cent of uninsured drivers are under the age of 25, with half under 20.
"Young people must be convinced that the only way to drive is fully licensed and insured," he claimed.
The IAM proposed a new ten point plan to prepare young drivers before they take to the roads, including parental involvement and offering lower premiums for low-risk learners.
Motorists were warned by esure car insurance this week about fronting, a type of insurance fraud that involves parents insuring a vehicle used mainly by their offspring in their name.
Many parents and teenagers are thought to use the technique in order to obtain reduced premiums for new drivers.
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