How to get the best car insurance for young drivers
Congratulations! You’ve passed your test and you’re no longer a learner driver. You’re no doubt excited to get out on the road, but do yourself a favour – make sure you get the best deal for your car insurance before you do. Our handy guide will show you how to get the right cover at the right price for you.
Why is car insurance for new drivers expensive?
Statistics show that younger drivers are far more likely to be involved in an accident than those aged 25 and over. In fact, around a quarter of 18 to 24-year-olds have a crash within their first two years of driving. Insurance premiums are calculated to reflect these statistics. On top of this, as a young driver you’ve had almost no chance to build up a no claims bonus, which could often lead to a lower insurance premium come your renewal date.
Is a black box policy a good idea?
It could be. One way for young drivers to save money on their car insurance is to get a black box policy, or telematics policy. A small device is fitted to your car, or you simply download an app to your phone, which monitors your driving habits. Your insurance provider uses the information collected to decide how well you drive. If you’re a safe driver, then you could be rewarded with cheaper premiums.
Can I save money by adding another driver to my policy?
If you’re a young or inexperienced driver, you can be considered a higher risk for insurance providers. But if you genuinely share your car with an experienced driver, you could reduce the cost of your premium by adding them to your policy (as long as they have no previous claims or convictions). Because you’ll be spending less time driving the car, the chances of you having an accident and making a claim are reduced, and this could be reflected in the price of your insurance.
Should I opt for a higher voluntary excess?
As a young driver, you’ll know you typically face higher premiums. Choosing a higher voluntary excess is one way you can get cheaper car insurance. Just make sure you can afford to pay this voluntary excess, as well as the compulsory excess that’s set by the provider, if you need to make a claim.
What types of car insurance are available for drivers under 21?
There are three main types of cover for you to consider. Picking the best policy for you will depend on your specific circumstances.
Third-party The most basic policy available, this covers you for any damage you cause to another person’s car or any injury you cause to somebody else, including your fellow passengers.
Third-party fire and theft Offers the same protection as third party, but you’re also covered in the event that your car is stolen or damaged by fire.
Comprehensive Includes all the cover of a third-party fire and theft policy, but will also cover you for any injuries you suffer and any damage to your car.
What about any practical tips to cut the cost of car insurance?
Well, the good news is there’s a number of things you can do.
Consider the type of car you have and its value
The car you have and how much it costs can affect your insurance. If your first car is new, high powered or a luxury model, you’re likely to have a high premium. While a standard model with a smaller engine might not be quite what you want, it could save you money on your car insurance.
Add extra security
Insurance providers love any extra security measures you take to protect your car. Fitting an immobiliser, for example, could help to bring down your premium as you’re reducing the risk of your car being stolen and a claim being made.
Avoid unnecessary modifications
While you think that a new stereo system or a spoiler is a must-have, your insurance provider won’t. Insurance providers may refuse to insure a car with modifications; those that will might charge a significantly higher premium. Make sure you weigh up whether those additions are worth it.
Restrict how much you drive
Limiting the amount of time you’re on the road obviously reduces your risk of having an accident, and could reduce your premium. Most insurance providers will ask you for a mileage limit, so set this as low as you think you can comfortably achieve – just make sure you tell the truth to avoid an invalidated policy.
Good driving can lead to cheaper car insurance. Speeding or incurring points on your licence can mean your premiums increase. If you do get penalty points, it’s important you tell your insurance provider as they could affect your premium.
It’s a good idea to pay for your insurance in one go – if you can afford to! Paying monthly can cost more because interest might be charged on the instalments.
Why compare young drivers insurance with comparethemarket.com?
We’ll show you policies based on price, policy cover level, add-ons or annual or monthly payment terms – helping you compare policies based on your needs.