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Insurance Tips for Young Drivers

When you’re a young driver who has just passed their driving test, you are often desperate to get out onto the road. But the cost of insurance can keep most young people off the road entirely. So what can you do to ensure that you can drive a car without bankrupting yourself? Here are some tips we’ve collected to help you reduce the financial burden of your car insurance package.

Shop around for the best provider

No matter how old you are, it’s always a good idea to shop around for the best price available to you. There are many comparison websites online that will provide you with a free and accurate quote for your insurance package. There are a variety of options that you can adjust, which will reduce the price and also give you an idea of ways to cut down on costs. This can be the annual mileage, usage of the car, or where you park the car at night.

Use a specialist company

The market of young drivers looking for insurance means there are some specialist providers out there who provide coverage especially for newly qualified, young motorists. Take a look around at the options they have available, especially the details on the coverage and what happens when you make a claim.

Get on your parents’ insurance

One way to reduce the cost of your insurance premiums is to be put on your mum or dad’s insurance. Having them add you to their package will mean you can take advantage of their driving history and no claims bonus, while lessening the cost of your premium. It might also be an advantage to have your parents pay the insurance company, and then you pay your parents back.

Purchase a small-engined car

As well as your own personal details, your car insurance premium will be based on the car that you drive. So resist the urge to buy a 2-litre turbocharged car and go for something a little more sedate. What you will lack in power, you will make up for in the saving on your insurance premium. 1.0-1.2 litre cars tend to have the best price at this age. You will also save money on fuel costs and car insurance.

Spread the cost

The cost of your car insurance premium can be quite a high price to pay in one go. So you might want to spread the cost. The problem with this is that the car insurance company will charge you interest if you pay monthly. If someone you know can lend you the money and you then pay them back, then you won’t have to pay interest. You should also take a careful look at 0% credit cards and use one of them to pay the full cost, before paying it off.

Save money elsewhere

Choosing a car with a small engine, joining a car share scheme, taking public transport – these are all ways you can save money when you drive, meaning you will have more money to pay those insurance premiums.

Insurance  08/04/2019 09:31:59

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