You’ve completed the hardest part, getting your driver’s license. Now, you simply need to buy your car and get it insured. However, there are loads of insurance companies out there and your task will be to find the cheapest insurance for a young driver like yourself. Therefore, we have included a list of tips to assist you in lowering the insurance premium significantly:
Your first car as a young driver will play a significant role in obtaining cheap car insurance. All cars in the motor industry belong to one of 50 different car insurance groups. The cheapest cars for young drivers will be in the first five groups.
Avoid any additional car modifications
Car modifications, such as body kits and alloy wheels, are very appealing to young drivers who want to personalize medium-sized cars or simple-looking hatchbacks. However, you will need to avoid car modifications completely if you are looking for the best car insurance for young drivers. Car modifications are renowned for increasing premiums by hundreds of pounds.
Telematics insurance, or black box policies, utilise a small device installed in your car or a mobile app to monitor driving behaviour and usage. These kinds of policies will assist in cutting the cost of car insurance for new drivers as insurers can base premiums on actual driving behaviour as opposed to assuming all young drivers are at risk of making a claim.
Avoid Paying Monthy in Favour of a One Time Yearly Payment
With the average insurance for young drivers costing an arm and a leg, it can be quite tempting to accept monthly payments instead of paying for the cover all in one go. However, it’s normally cheaper to pay for the entire year in advance as opposed to paying every month. This will allow you to avoid additional monthly interest charges as well.
Look at increasing your excess
Deciding to pay a higher excess over and above the compulsory excess you were initially quoted can significantly reduce the cost of insurance for new drivers. Carefully consider the different types of car insurance Assess what you can afford to cover, how often you plan to drive, and what type of superficial damage on your car you are prepared to live with. Choosing the correct cover can lower the cost of new driver car insurance considerably.
Don’t assume third-party insurance is the best for first-time drivers
It will greatly assist you in comparing different levels of cover. According to insurers, third-party premiums are more expensive than comprehensive cover as its usually chosen by younger drivers who tend to make larger claims.
Add a named driver
You can further reduce insurance for young drivers by simply adding an additional named driver to the policy. This is especially true when a more experienced and older driver is added. Limit risk by increasing your car security Adding additional car security features, such as an immobiliser pr car alarm, will normally help in getting cheap car insurance for new drivers.