Young drivers’ car insurance premiums have increased sharply in recent years, partly due to the internet which has seen loyalty to car insurance companies replaced by regular switching. According to Nigel Lacey, co-founder of young drivers’ car insurance provider Young Marmalade, whilst the ability to compare car insurance deals online has increased competition and can help drivers save money, it has also brought an end to loyalty when it comes to car insurance providers. The common practice of British consumers moving car insurance companies every year in search of the cheapest deal means that insurers do not rely on the fact that a young driver will remain with them for several years, which would enable them to recoup any risk or loss incurred during this time once they become a more experienced driver. “Drivers can now go to the Confused Meer Kat in a Supermarket and get the best deal for them.
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