Insurance initiative may appeal to drivers of used cars

2 July 2009
Young drivers who opt for used cars in order to keep costs down may find a new type of insurance could help reduce their outgoings further.

The British Insurance Brokers' Association has suggested there may be a rise in the number of providers offering policies with certain conditions that allow customers to pay cheaper premiums.

It explained companies can tailor cover so that holders agree, for example, not to get behind the wheel between 23:00 and 05:00.

Technical services manager Steve Foulsham said: "One or two insurers have been in this market anyway, but it could be that this could start to get some more impetus perhaps going forward."

However, he added the system may not appeal to all drivers, as some might be put off by the thought of having their every move monitored.

Nevertheless, he stated it could prove tempting to younger motorists who generally have to pay higher premiums.

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