Young drivers insurance costs are back on the agenda

cost of car insurance

Posted by Holly West-Robinson on 27 March 2017

Marmalade, provider of cars and insurance for 17-24-year-olds, has been leading the industry in Parliament’s discussions around the cost of premiums for young drivers.

Marmalade was called to the Petitions Committee in the House of Commons in February to take part in an oral evidence session, following a petition to cap the cost of car insurance for young drivers to £1,200 a year. This was also debated amongst MP’s this week in Parliament and has been hitting the headlines as a result. Whilst such a cap may not be feasible, it sends out a positive message that the Parliament is taking the topic of insurance costs and young drivers’ safety seriously.

Stewart Jackson, MP for Peterborough, says: “It’s great to see that Marmalade, a local business in Peterborough, is at the forefront of young driver safety in the insurance sector. The young person’s insurance specialist has worked hard to establish itself as a champion of driver safety. This passion has been demonstrated by its recent visit to the House of Commons to take part in the Petitions Committee debate to discuss how best to make insurance more affordable and ensure novice drivers are safer on our roads.”

Crispin Moger, CEO of Marmalade, says: “Marmalade was pleased to be recognised as an ambassador for young drivers by government.When we were invited to present evidence to MP’s at the House of Commons we presented our feedback as to what more could be done to help making getting on the road more affordable for young drivers. Preventing accidents by promoting safer driving through increased use of telematics for young drivers is one key way we are promoting safer driving, as well as encouraging young people into safer cars which is proven to reduce the risk.

“We feel young drivers are being hammered with rising costs and it’s not fair. We’re calling for a reduction in insurance premium tax (IPT), or removal of IPT completely for young drivers who use telematics. Novice drivers need practice to become safer on the roads, but how can we expect them to get practice if the cost to get on the road is so high?”