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European ruling will cause car insurance premium rise for young women

Young women are likely to experience higher car insurance premiums in the near future following a new European Union ruling on the sector.That is according to Malcolm Tarling of the Association of Bri...

Young women are likely to experience higher car insurance premiums in the near future following a new European Union ruling on the sector.

That is according to Malcolm Tarling of the Association of British Insurers (ABI), who was speaking after it was decided by continental policymakers that the breakdown car cover market had to be revamped due to the discrepancies in the value of deals available to males in comparison to their female counterparts.

As a result, as of December 21st 2012, annual insurance providers will no longer lawfully be permitted to sell policies that are gender-specific in terms of pricing.

And Mr Tarling explained that this is likely to affect young female drivers more than other road users.

He added that "independently commissioned research" conducted by the ABI last year found that as part of the process of re-pricing, "premium rates for women could increase by up to 25 per cent for under 25-year-olds".

Meanwhile, motorists have been reminded of a recent change to car insurance laws that introduced earlier in the year.

The Driver and Vehicle Licensing Agency (DVLA) has stated that people must inform the organisation if their vehicle is going to be off the road, or ensure it is covered.

This means that if drivers do not declare that their car is off the road, they must have a valid car insurance policy in force even if they don't plan to use the vehicle. Failure to declare your vehicle off the road would trigger a hefty fine, so people are being urged to organise cover.

The change was designed to help crackdown on the number of uninsured cars in the UK and the government indicated it would be taking a zero-tolerance approach.

Many drivers have also been found to be lying on their car insurance applications in an attempt to lower their premiums. However, People have been warned that doing so could invalidate their insurance policy and leave them with a huge bill if they ever needed to make a claim.

David Evans, DVLA's corporate affairs director, stated that honest British insurance customers are being forced to pay an extra £30 on their premiums as a result of those who are not.

"It is vitally important that motorists understand the change and how it will impact on them," he said.

Neil Drane, the Motor Insurers' Bureau head of motor insurance database servicesFeature Articles, stated that the change in the law means young insurance customers will be caught if their policies are out-of-date.

This comes shortly after it was found by Sainsbury's Car Insurance that one in three drivers do not believe it is necessary to carry out basic safety checks on their vehicle.

Source: Free Articles from ArticlesFactory.com

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