When purchasing a car there are numerous factors to take into consideration and this can be a daunting prospect. One of these factors is insurance. By their very nature, young drivers are less experienced and subsequently represent a higher risk to insurers which in turn generally equates to higher premiums.
Motoring can be costly for even the most experienced of drivers but there are ways that younger drivers can keep expenditure as low as possible.
Choose the Right Car
There are now over 50 different car groupings, choosing a car below group 15 is advantageous. These cars tend to be small hatchbacks with an engine size below a 1400cc. Try to avoid ‘sport’ models with additions such as GTi as these will almost certainly attract a larger premium.
Add a Parent or Guardian to the Policy
If your parents or guardians have a good driving record then adding one, or both, to your policy can help bring the premium down substantially. When obtaining a quote it’s worth ‘testing the water’ to see if adding someone to the policy could save potentially save some pounds on the premium.
Levels of Cover
Traditionally there are three levels of car insurance cover, third party, third party fire and theft, and fully comprehensive.
It’s rare these days that insurance companies will offer all 3 different levels of cover, and most will only offer fully comprehensive insurance.
There are very few companies that still underwrite third party only cover and as such there is little competition for this type of business, therefore costs for this cover can be more expensive than third party fire and theft cover and even more expensive than comprehensive cover. It’s worth checking all cover options available.
Many insurance providers can now fit a clever device into your car that measures how well you drive. By having the device installed in your car, it’s possible for you to prove that you drive safely. How much you pay for insurance is then calculated on how safe a driver you are, rather than just paying based on an average driver. Insurance costs are incredibly high for new and young drivers, and telematics insurance is a great option to check out.
Insuring a car when a provisional licence is held is likely to be cheaper than when a full licence is held, this is because an experienced set of eyes are in the car with the driver and fewer miles will be covered on the road.
Improve Driving Skills
Taking the Pass Plus course can help to lower insurance costs with a few insurers, even if the policy purchased doesn’t allow a discount immediately it should assist in accruing that all important no claims bonus. This could be worth up to 30% discount for one year’s bonus.
Don’t be tempted to insure a vehicle using parent’s names with the main driver being added as a named driver. It is important that the correct main driver for the vehicle is disclosed. Anything other than clarity amounts to fraud and could result in a nasty bill. Insurers could void the policy leaving any damage resulting from a claim needing to be paid for out of an individual’s pocket.