One of the ironies of being a young driver who has just passed a driving test is that at the time of your life that you probably have the least amount of money and the most desire to want to drive, your car insurance premiums are at their highest.
Young drivers looking to insure their cars are victims of the statistics which show that young drivers have the most accidents and make the most claims on their insurance. For example, a third of fatalities on the road are caused by 17-25 year olds and in addition one in five drivers have an accident in their first year on the road.
As a result of this young drivers are seen as a high risk group and pay the price in their premiums. So once youíve thrown away your ĎLí plates and are looking to get insured on your first car, how do you make sure that you get the cheapest car insurance quote? Here is a guide to keeping your premiums down:
1. Get a car in the lowest insurance group:
Itís a fact of life that when youíre young you donít always make the most sensible decisions. However, it would wise to ignore the urge to buy the fastest car that your resources allow and instead buy a car with a small engine which falls into the lowest insurance category. You can always upgrade when you are a little older and fall into a lower risk insurance group.
No Claims Bonus :
Being added to your parentís insurance policy may seem like a good option but in order to start building up your no claims bonus it is vital to get your own policy as soon as you can. Once you have your own policy try not to make any claims on it unless absolutely necessary, losing your no claims bonus will have a dramatic effect on your future premiums.
Get FREE driving lesson quote
Book your driving lessons with local driving instructor
Take part in the Pass Plus scheme
The Pass Plus scheme enables young drivers who have already passed their test to receive lessons in specific aspects of driving such as night driving, motorway driving and driving in town. Participation in this scheme earns you a certificate which can be used to get up to 35% off your car insurance premiums so is definitely worth considering.
Donít try to cheat the system
Some newly passed drivers think they can trick insurance companies into giving them cheaper premiums by putting the insurance in their parentsí name and then putting yourself as the named driver. This is called Ďfrontingí and could result in a claim not being paid and you could even be charged with driving without insurance.
Accept a higher voluntary excess:
Most insurers will give you a discount on your premium by accepting a larger voluntary excess or in other words the amount that you pay out of your own pocket in the event of a claim. Just changing from a £50 voluntary excess to a £100 one can make a big difference.
6.Use a price comparison website:
Finally, using a price comparison website is the quickest and easiest way to compare quotes from hundreds of different companies at the same time to get a cheap
insurance quote. Many of them also have very good advice guides to help you get the very best quote.