Young drivers seem to receive the greatest car insurance premium increases. Insurance companies view young drivers as high risk, raising their prices because they feel that they will end up having to pay more claims on this group. This is a good reason to shop around before purchasing a policy. Buying the first low quote on young drivers car insurance that you find might seem easy, but it will be a lot harder on you – as well as your wallet – in the long run.
Why Insurance Companies See Young Drivers as a Risk
The sad fact is that young drivers have the most accidents. Studies have shown that one in five young drivers is involved in a car accident during the first year that they are driving. Drivers between the ages of 17 and 25 have a higher risk of being the victims of vandalism, theft, and fire, and are responsible for approximately one-third of UK road fatalities. While not all young drivers are careless or irresponsible, all have to pay high premiums because of the individuals who are. The good news is that these high costs decline as you get a bit older. While they are high, however, it is necessary for many people to find ways to make young drivers car insurance costs easier on their budget.
Making Young Drivers Car Insurance More Affordable
Young drivers car insurance policies currently ring in at more than £2000. You can make this cost more affordable, though, in a few ways. After you have passed your driving test, consider enrolling in a Pass Plus course right away. Some insurance providers offer quite significant discounts for young people who take this class. While Pass Plus does not require a test when the course is finished, it does provide you with a certificate from the Driving Standards Authority. You will have to prove that you are capable of driving in town traffic, on motorways, and at night time to receive this certificate. Buying a car with a small engine will benefit you a great deal, as well. Sleek performance cars are very alluring, but they will cost you dearly when it comes to your insurance premiums. Your everyday car with a small engine and few or no modifications will benefit you the most when it comes to insurance costs. Safety features such as an alarm, immobiliser, and GPS locator can save you significantly, as well.
Comparing Young Drivers Car Insurance Policies
You can obtain cheap car insurance quotes very easily by going online. A comparison site is invaluable to young drivers because you can look up many quotes from dozens of companies and compare the price to the coverage offered, allowing you to find the very best deal possible. When you find a policy that you think is appropriate for you and your car, look into the company offering it. By doing just a bit of research into the individual companies, you can often find many discounts that they may offer solely online. All you need do is enter a bit of information on your car and yourself to begin receiving price quotes.
Reconsider Driver Additions
Having yourself added to your parents’ car insurance policy is inexpensive right away. However, it is still better to buy your own policy with your name as the primary driver. By doing this, you can save even more money in the long run by building time toward safe driver and low claim discounts. Whatever you do, do not insure your car in the name of a parent and have yourself listed as a non-primary driver. When the company discovers this, your policy will be rendered void and you could get into a great deal of trouble.