Danger: 23-year-old driver alert
- Virgin Money analysis shows the riskiest ages
The Government may be planning new tests for older drivers to ensure they are fit to drive – but Virgin Money analysis shows it is 23-year-olds who are the most risky on the road.
Its research shows one in 20 of all claims made on Virgin Money Motor Insurance are from 23-year-olds with the under-25s making 26 per cent of all claims.
The analysis of more than 14,000 claims shows why insurers charge high premiums to younger drivers and why older drivers are not necessarily the biggest risk on the road.
Government plans for older drivers are reckoned to include health checks on whether they are fit to drive and is in response to statistics showing that by 2021 more than three million drivers will be aged over 70.
However the Virgin Money analysis shows the majority of claims come from the under-30s who were responsible for close to 50 per cent of all claims.
Virgin Money says younger drivers tend to be more risky because they are less experienced and because many will be driving modified cars. It warns the slump in new car sales may mean a rise in drivers buying second-hand cars and then adapting them.
Grant Bather, spokesman at Virgin Money, said: “It is striking that 23-year-olds as an age group make the highest proportion of claims.
“The Government focus on older drivers and ensuring they are fit to drive is of course sensible but it is clear that they are not necessarily the greatest risk.
“Of course there are safe drivers who are 23 just as there are careless drivers of any and every age. Drivers should make sure that they treat the roads with respect and have insurance should they have an accident, or become involved in a traffic incident.”
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Notes to Editors
For further information:
Grant Bather, Public Relations Manager, Virgin Money
07834 844 427
Kevan Reilly/Billy Partridge, Citigate Dewe Rogerson
0207 638 9571
About Virgin Money
Virgin Money is Virgin’s financial services arm and was established in 1995.
Virgin Money has over two million customers and offers a wide range of financial products across lending (e.g. credit cards and personal loans), savings (e.g. deposits, investments and pensions) and protection (e.g. life insurance, home insurance and car insurance) to the UK market.
Virgin Money Personal Financial Service Ltd is authorised and regulated by the Financial Services Authority (FSA). Registered Office: Discovery House, Whiting Road, Norwich NR4 6EJ. Registered in England no. 3072766. Entered on the Financial Services Register (www.fsa.gov.uk/register), Register Number: 179271