Young people insurance drops

04 November 2003: The average insurance premium paid by drivers under 25 is now €2,384, down from €3,302in October 2000, according to MIJAG, the young drivers’ insurance lobby group.

The organisation says the drop cannot be just related to the introduction of penalty points, but that the most significant event in the last few years was the entry of Hibernian into the young driver market.

But MIJAG leader Mick Murphy says there is still a long way to go, as under 25s are known to be twice the average risk and not three times.

He called again on the Government to introduce price controls to insurance, and reiterated MIJAG’s stance that most young drivers will never have an accident and so should be charged the average premium, with increase only to take place if someone develops a proven poor safety record.

©2003 irishcar.com