Motorists can secure car insurance policies for just £1 this month under an ambitious new scheme.
Young drivers between the ages of 17-24 can secure the bumper plan as part of a new competition from temporary car insurance provider Veygo.
Entrants could win one of 52 weekends of budget price temporary insurance cover in a bid to encourage more youngsters on the road.
Those who don’t own a vehicle can also benefit as temporary cover can be used in vehicles owned by friends and family members.
The competition has been running from March 20, 2024, and is expected to close on April 18, 2024, at 11:59pm.
Entries can be submitted through Veygo’s Instagram or TikTok channels. James Armstrong, CEO of Veygo, explained the scheme would help get “young people back in the driving seat”.
He explained: “Weekends are a key time to take to the road, to explore and reconnect, yet four in five young people are unable to make the most of their weekends due to cost and over seven in 10, due to access to a car.
“Veygo is working to change this through our pay-as-you-go car insurance that’s designed for learners and young drivers.
“We passionately believe in fuelling independence and helping young people experience the freedom of driving and all this can enable, so to get young people back in the driving seat, we’re giving away 52 weekends of car insurance for just £1 each.”
Recent research from financial specialists at Money Expert has found that young motorists have been hit hardest by car insurance rises.
The study found 33 percent of 18 to 24-year-olds have seen an increase of up to £250 on their agreements.
Meanwhile, around 20 percent said they had noticed a £500 rise in their agreements in a major blow.
MoneySuperMarket has revealed the average cost of a yearly car insurance policy for 17-19 year-olds is an eye-whopping £1,724 per annum.
According to their figures, this only falls to around £1,137 for those aged between 20 and 29.
The scheme comes after a new study from Veygo found that nearly three-quarters of Gen Z motorists want to be able to say yes to more last-minute opportunities.
However, having access to a car stops a whopping 72 percent of youngsters from getting out and about.
Young people claim that having some access to a car would help 93 percent of them make the most of their weekends.
