Young Female Drivers To Pay Higher Insurance Premium Cost

Young Female Drivers to pay higher Insurance Premium cost

by

kevinlenders

Young women s who are fond of driving better think before driving because now on they have to pay higher premiums for the insurance. From this month the young female drivers will have to face the increase in their insurance price. By now men and women had to pay different rates for their insurance. But now this is going to be changed by implementing ban on this that men and women pay different premiums for the same thing. That is why higher insurance cost has been predicted which is to be implemented from 21st December. So in New Year the young women s have to pay higher cost of premium if they want to drive.

According to the order of a European ruling for life insurance also women will have to higher rates while on other hand men will receive lower annuities. After the implementation of these changes the cost of driving could become impossible to be afforded by the people like 19 year old Hazel Bond. From now she will receive the insurance quotes at revised rates which are quite higher.

She has got nearly 500 more cost at just around 1525 for 1100cc Renault Clio. Miss Bond said, I have to go university on regular basis which will become difficult for me to continue with it as the cost of car will cross the limit of my affordability after these changes get implemented. She also added, I do need my car undoubtedly to travel to placements and all these will make it difficult to afford to drive my car. All this is going to affect me very much.

Young mail drivers have higher possibilities of having accident that is why till now young mail drivers have had to pay higher premiums for insurance, but now discrimination in insurance as per gender is being taken as illegal act.

Graeme Trudgill said in a statement from the end of insurance Brokers Association BIBA, We are going through the first change and young women are going to be affected from it. He said, for the women drivers under the age of 25 years will get an average increase of 15 per cent, but in some cases this high cost range may be up to 40 per cent and in some 60 per cent which are remarkable changes. And really this higher cost of insurance is to be bear by young female drivers and they have to one more burden on their head.

Kevin Lenders is an expert financial adviser and he writes for financial services like text

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