How to Get Cheap Insurance for Young Drivers
For young drivers, car insurance can be expensive.
It is a sad fact that young and newly qualified drivers are more likely to be involved in accidents than more experienced drivers, and this pushes up the price of your insurance premiums.
Add to this the fact that you haven’t yet had the chance to earn a no claims bonus and it soon becomes clear why it’s so hard to find cheap insurance for new drivers.
The good news is you do have some options, so here are some tips for getting the best car insurance rates.
If you’re a young driver, telematics could be your key to cheaper car insurance. Some insurers have recognised that for new drivers like you, paying high insurance costs can put you off driving, so they’re trying to find ways to make it less expensive for you. They do this by putting a black box GPS system in your car which monitors how you drive. If you agree to take part in a telematics scheme you can save money on your car insurance and prove that you’re a responsible driver.
- Pass Plus
Your driving instructor will probably try and sell you a Pass Plus course. It might seem like it’s just another expense, and more hassle when you’ve already worked hard to pass your test, but it can be worth it. As young drivers are involved in so many accidents, doing everything you can to show insurers that you’re committed to driving sensibly will help you to get cheaper car insurance. It will also teach you valuable skills like motorway driving, which will reduce the risk of you being involved in an accident.
- Third Party Insurance
If you take out your own car insurance policy you will end up paying a lot of money. If possible, see if you can be added to a parent’s policy, either as a named driver or as part of a multi-car policy. If your parent has a no claims discount you’ll be able to take advantage of the savings. Remember though that if you’re involved in an incident it can affect their premiums, so be careful!
- Car Insurance Groups
Different cars fall into different car insurance groups, and you can save money by doing a bit of research and choosing a car in a lower car insurance group. One good tip is to search for cars online and use a price comparison site at the same time to find out how much they will cost to insure.
- Be patient
Your car insurance will get cheaper over time. Young drivers and newly qualified drivers have it tough, but if you drive carefully and build up a no claims bonus you should find that your premiums get cheaper. When it comes to renewing your insurance, always shop around to see if you can save money by switching.
Young drivers aged 18-21 are able to buy cars on finance, but you might need a guarantor.