The high premiums faced by those who have just passed their tests have caused a new discount product to be launched.
A new innovation in car insurance products has been launched, aimed at young drivers hoping to avoid high premiums.
The policy, which has been introduced in the last week by Swinton, offers a six-month "trial period" for those who have just passed their tests, the Guardian reports. It was developed as a reaction to the more costly insurance fees currently levied on younger drivers, due to the age group representing a proportionally higher accident risk.
With some of these premiums costing in excess of £2,000 a year, the firm has moved in with a discount offer. Under the new policy's terms, the driver takes out insurance for six months; then, if they have not made a claim in that period, they are granted the opportunity to renew for a further year at a 30 per cent discount.
Moreover, Swinton says that if the motorist makes it through 18 months without a claim, this discount is raised to 45 per cent.
Andy Roden, a spokesman for the firm, said that people hoping to sign up to the new policy should also make sure that they drive "smaller, lower-powered cars" in order to get a "reasonable" price. This is because lighter, slower models generally represent a smaller accident risk, and cause less damage if they are involved in a crash.
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