If you are a young driver, finding cheap motor insurance can be difficult. It is made especially hard by the fact that many companies do not offer any kind of insurance for young drivers.
Why younger drivers pay more
How much your car insurance premium will be is worked out by calculating how likely you are to have an accident and how large any resulting claim is likely to be. Sadly, young drivers are statistically more likely to have a serious accident than someone over the age of 25 is. Young drivers also pay more for their car insurance because they have not had a chance to build up any no claims bonus.
It is possible to buy cheap insurance for first time drivers
Key to finding cheap car insurance for young drivers is shopping around and getting as many quotes as possible. Typically, there is a price difference of several hundred pounds between the cheapest and the most expensive car insurance quotes. Fortunately, a growing number of companies have developed special insurance packages for young drivers. These companies are the ones you should contact first when gathering quotes.
Consider buying a small car
Everyone knows that the faster the car is the more it costs to insure. For young or inexperienced drivers this is even more the case. When buying your first car, consider buying a smaller car without modifications to help bring down your insurance premiums.
Take the advance driver test
Passing the Pass Plus, advance-driving test will entitle you to a discount with many insurance companies even if you are a young driver.
Stick to the rules
If you have an accident or get caught speeding, your car insurance premiums will go up automatically. If you do not drive carefully and get say a speeding ticket your insurance premiums for the next year will go up instead of down.
Consider buying third party insurance
Comprehensive car insurance is the most expensive type of cover but covers both your car and other vehicles in the event of an accident. It is definitely the best insurance, but third party policies are a lot cheaper. You just have to bear in mind that if you have an accident that does not involve another vehicle or the driver of the vehicle involved in the accident is not insured you will have to bear the entire cost of getting your car repaired.
Consider pay per mile insurance
Another way to keep the price of a young person’s insurance as low as possible is to take out a restricted hours or pay per mile policy. These policies restrict how many miles you can cover and may require you not to drive during certain hours or in certain places. The majority of accidents young people have happen at night, so firms charge less if new drivers agree not to drive at night.
Never drive without insurance
Do not be tempted to drive without insurance, as a young driver you will lose your licence and be very heavily fined. You are also more likely to be stopped by the police because young driver’s lack of experience means that they drive more erratically than other drivers do.