Young motorists may not pay cheaper premiums for their car insurance because of the fact that they are at higher menace of being engaged in road accidents in UK, as stated by a renowned insurance company.
Malcolm Tarling, who is the spokesperson of Association of British Insurers and commented on the publication of equity bill that has been proposed for putting a stop on age discrimination while scheming cover rates.
He said, “It is not given that old individuals should pay more and age should not be used as a significant factor by the insurance companies because it is often very relevant when calculating risk”.
Mr. Tarling also explained that without important information such as age, no sufficient data is available that could enable the companies to charge risk.
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In other news the car scrappage scheme was under fire today by car manufacturers.