Being a younger driver inevitably means car insurance is an expensive necessity. Typically, drivers between the ages of 17 and 24 are deemed high-risk and insurance premiums are priced accordingly. In fact, statistics have shown that new drivers are more likely to have an accident in the first two years after passing their test.
Frustratingly, not all insurers offer cover to new drivers, which means finding the right policy that’s within your budget can be difficult.
The inexperience and reputation of young drivers means that insurers see this category as high-risk, and hefty premiums can mean that driving is simply not an option for many – the cost of the car, road tax and insurance costs are simply too expensive.
However, you may be able to cut the cost of your car insurance. Here are a few of our tips:
Tips for reducing your car insurance premiums
Try to choose a car with a smaller engine and a low insurance group. Smaller engines will also qualify for lower road tax and every penny counts! Consider vehicles like the Ford Ka, Fiat Punto, Vauxhall Corsa or Peugeot 107 - some models are in the group one category which offers the lowest premiums.
Most importantly, don’t be tempted to modify your vehicle as this could significantly increase your premium and excess.
Take the Pass Plus Training
This is additional, advanced driving training you can do after you've passed your test. With this certificate under your belt, you could benefit from reductions on your insurance.
Increase your voluntary excess and don’t pay for additional extras that you don’t need. Upping your excess by £50 could see a drop in your annual premium. Do remember though that you’ll have to pay this amount should you have to claim so make sure it’s within your budget.
Be vigilant. Minimise the risk of theft by installing an alarm and immobiliser. Fit a stereo that you can remove from the vehicle when you’re not using it.
Adhere to any mileage limits imposed by your insurer. If you know you won’t be travelling far then let the insurance company know – the lower the mileage, the lower the risk of having an accident so this could work in your favour.