High-risk drivers typically, young males are seen as a danger to themselves and others, which is why their motor insurance premiums are so high. But the cost of motor cover for this group of drivers is also a danger to their wealth.
According to the Irish Insurance Federation, which has introduced another promotion campaign for its Driving Instructor's Register (DIR) insurance incentive scheme, a typical 21-year-old Dublin-based male, driving a three-year-old Ford Fiesta valued at £4,000, and with a provisional licence, will pay up to £2,000 for third party, fire and theft cover.
If the same driver was to take the DIR course, says the IIF, "he would be entitled to an additional step (usually 10 per cent) in the no-claim discount scale, a savings of £200. Over a five-year period, if he remained claim-free, the cumulative savings could be as high as £1,000".
Notices have gone out to all brokers reminding them about the scheme which involves a minimum 25 hours of driving tuition with a recognised instructor.
If the learner passes the course, he or she gets a certificate which can be presented to the insurer to qualify for the automatic no-claims discount.
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