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Older drivers 'claim on insurance more than youngsters'

Date Published : Monday, April 21, 2008

Drivers in their thirties made more car insurance claims in the last three years as a result of accidents than those under the age of 25, a new study has revealed.

According to data compiled by Cannex, 38.2 per cent of drivers aged between 30 and 35 claimed on their motor insurance at some stage between 2004 and 2007, compared to the 36.7 per cent of under 25s who made a claim.

Drivers over the age of 65 claimed the least amount on their insurance policies, with 27.3 per cent using the cover as a result of an accident.

However, the report by Cannex suggested that the results do not necessarily mean the under 25s are better drivers than those in their thirties, it may mean that young drivers are more reluctant to claim on their insurance policies.

A statement by Cannex said: "When you consider the already increased cost of purchasing insurance as a young driver, combined with the cost of the standard and additional excess for which they are liable and the resultant increased premium as a result of making a claim, it takes a rather serious accident before the cost of making the claim is actually worth it."

The study found that over 1.5 million car insurance claims are registered with insurers every year in Australia. AAMI is the most relied on insurance provider, fixing one out of every five accident claims.

Drivers in Sydney pay the highest insurance premiums on average nationwide, with the higher population upping the chances of collisions and also a higher risk of theft or vandalism.

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