When calculating your car insurance policy, there are a number of factors that insurers take into consideration, for example, age, address and type of car. So, there are many reasons why insurers may decide to increase your premium, but when it comes to age, it’s the young drivers that get hit the worst. The younger you are, especially if you’re a first-time driver, the more you will get charged for your car insurance! AA has found that on average 17-22-year-old drivers pay up to £1,771 a year on their car insurance. If young drivers fit into other categories that posed a risk, for example opting for a flash car or living in an area with a higher crime rate, their premium would increase even more. Since 2012, gender has been banned from being used to influence the price of your car insurance policy to comply with the gender equality legislation, so why is age used?
Young drivers are charged more than experienced drivers for their car insurance as they are considered by insurance companies to pose a higher risk factor. Even motorists that drive from the age of 17 and after 5 years of driving could still get charged higher rates simply because they are under 25.
You may be a young driver yourself and believe yourself to be a very good and safe driver and think this age-dependent penalty to be unfair. However, statistically, young drivers are more likely to be involved in a collision. 25% of all fatal crashes have been drivers under the age of 25, despite them being only just over 12% of the population. Therefore, unfortunately, finding cheap car insurance for first-time drivers under 25 is often difficult and, instead, will get hit with a hefty price. So, what can you do to get the best car insurance policy for you at the cheapest price?
Cheap car insurance for first-time drivers is hard to find and you may not be able to get your car insurance quote down dramatically. But, there are few tips that young drivers can take on board to help bring down their policy a little bit and make it more affordable. Below are a few things to consider to help lower insurance quotes for young drivers:
It may seem ideal to have the best car to show off, who wouldn’t want an Audi A5 or BMW 3 Series, but remember to add on the cost of your car insurance when you’re budgeting to find out if you can afford it. Usually, cars with a higher value will have more expensive insurance premiums, particularly sports cars. It could be worth selling your car and sacrificing the flash car for the first few years until your insurance policy comes down.
It may be tempting to pimp your ride and give it a personal touch, such as adding alloy wheels and altering the body kit, but these changes can come at a cost. As soon as you start modifying your car this can automatically increase your premium, so you will need to weigh up your options for style and affordable insurance. This is why drivers with a disability often see an increase in insurance premiums if they need to modify the car for practical reasons.
If insurers trust that you are a good driver then they could be more willing to offer you a cheaper insurance. You can do this by signing up to a black box insurance. Once installed this system will track how well you drive, checking your speed, braking, how you take corners etc. Insurers will use this to calculate your car insurance the following year.
Even though accidents can’t always be prevented and they aren’t always your fault, another way to prove you’re a trustworthy driver is through your no-claims bonus. If you can make it to 5 years without a claim you will see your car insurance policy drop.
Adding safety features to your vehicle will reassure insurance companies that you are less of a risk; decreasing the chance of your vehicle being stolen or broken into. Safety features include an alarm, an immobiliser and parking on a driveway rather than the road. Not only could this put insurers at ease, it will also put your mind at rest that your car is safe.
Including another driver onto your policy could also help lower the cost. Having a more experienced driver, for example, a parent, will offer reassurance that your car is also in the safe hands of a reliable driver. As long as they have a good no-claims bonus that is!
Once you’ve passed your driving test taking an extra course could encourage insurers to have more faith in you as a driver. The Pass Plus course can help to improve your confidence on the road as well as ironing out any bad habits you’ve picked up to help make you an overall better and safer driver.
Knowing where to find cheap car insurance for young drivers will come from shopping around. Don’t just settle for the first policy you find. There are plenty out there and there will be the right insurance policy that works best for you. Don’t just opt for the cheapest either, even though saving money is a high priority, you also want to choose a policy that will take care of you when you need to claim. Check what the policy includes as well as the price.
It’s unfortunate that all young drivers get so heavily penalised when it comes to car insurance and all sit under the same ‘high risk’ category no matter how you actually drive. But, thanks to our tips, you now know how to make car insurance cheaper for young drivers and help save some of the pennies.