Designer Car Envy

One of the leading insurance brokers claim that uninsured driver statistics will reduce if young drivers are less ‘cool’ One of the leading insurance brokers InsureYourMotor.com is claiming that the number of uninsured drivers will decrease if young drivers are less ‘cool’. A recent survey carried out by InsureYourMotor.com reveals that 78% of young drivers suffer Designer Car Envy and are peer pressured into buying the latest ‘cool’ car with high insurance and ignore parental guidance. Young drivers that are buying their first car because it’s ‘cool’ in preference to a more modest ‘sensible’ car are quoted twice as much for an insurance policy. As a result driver choosing the ‘cool’ car are more likely to decide to risk driving without the appropriate insurance cover. This case study shows the young insured driver could save £2800 per annum with a potential fine of only £200 if caught without insurance. Case Study Average premiums: based on an 18 year old driver with I years no-claims, L37 post code, third party fire & theft, on a car registered in 2000. Cool car £2763.00 per year Sensible car £1100.00 per year David Harlow, Managing Director of InsureYourMotor.com concludes: Insurance premiums for a ‘cool’ car can be up to three times more expensive than that of a sensible car and may be the reason for so many uninsured young drivers. My advice to first time drivers is to buy a safe sensible car to build up a no claims history and not to be a victim of designer car envy. This would dramatically decrease the amount of uninsured drivers and the insurance premiums”. The top ‘cool’ cars that every 18-year-old wants but have high insurance are: • Citroen Saxo • Seat Ibiza • Peugeot 106 • Renault Clio • Vauxhall Corsa • BMW 316 • Peugeot 206 • Fiat Punto • MGZR The top ‘sensible’ car that 18 years olds would not want to be seen in but have more affordable insurance are: • Nissan Micra • Kia Rio • Daewoo Matiz • SMART • Hyundai Getz • Daihatsu Sirion • Ford KA • Perouda Kelisa For more information please contact David Harlow on 01784 427100 or visit www.insureyourmotor.com For further media information or interviews, please contact Beth Meades on 01428 752000 or email beth@nakedpr.com End Notes for the editor About InsureYourMotor.com With outstanding relationships with Lloyd’s syndicates and major European Insurers, InsureYourMotor.com is fast becoming the UK’s number one insurance bureau for young drivers, convicted drivers and owners of high performance sports cars. Currently quoting for approximately 80,000 drivers every month, Insureyourmotor.com have risen in just 3 years of trading to become one of the UK’s most successful fast track stars. In 2003, InsureYourMotor.com won the Daily Telegraph – Sage Business award for the UK’s fastest growing business

Date - 17/05/2004