How to get the best car insurance for young drivers
Getting car insurance for young drivers
Congratulations! You’ve passed your driving test. You’re no doubt excited to get out on the road, but before you do, make sure you get a great deal on your car insurance.
Driving when you first start out can often be expensive. On average, young drivers spend nearly £2,442^ a year running their cars; and car insurance makes up over half of that.
Shopping around could help reduce the costs of your car insurance. 50% of 17 to 24-year-olds could save up to £260 on their car insurance based on Compare the Market data from the Young Drivers Report in September 2018.^^
^Young Drivers Report September 2018
^^Based on the difference between the cheapest click-through price presented and the mean average of the top five cheapest prices presented to a customer, where a consumer has clicked through to buy
Frequently asked questions
Why is car insurance for new drivers so expensive?
Statistics show that younger drivers are far more likely to be involved in an accident compared to those aged 25 and over. According to road safety charity Break, 23% of 18 to 24-year-olds crash within two years of passing their driving test. Insurance premiums are calculated to reflect these risks.
Also, as a young driver, you won’t have had a chance to build up a no claims discount, which can often help reduce insurance premiums when it’s time to renew.
How will a black box policy affect my car insurance?
A black box policy, also known as telematics insurance is one way that could help save money on your car insurance. A small device is fitted to your car, or you can download an app, which then monitors the way you drive. This information will be passed on to your insurance provider who may reward you with a lower premium if they consider you a safe driver.
Can I save money by adding another driver to my policy?
As a young or first-time driver it could be worth adding a more experienced driver to your policy as they could help reduce the cost of your premium. Just make sure you’re named as the main driver, otherwise it will be considered a type of fraud called car insurance fronting, which, at the very least, could invalidate your policy.
What types of car insurance are available for drivers under 25?
As with all age groups, there are three types of cover to consider:
- Third party insurance – the most basic type of cover you need to drive legally. It covers you for damage you cause to another person’s vehicle, or any injury you cause to someone else.
- Third party fire and theft insurance – as well as third party, your vehicle is covered if it’s stolen or damaged by fire.
- Fully comprehensive insurance includes all of the above, but will also protect you as a driver and will pay out for damage to your car.
What else can I do to reduce the cost of my car insurance?
Here are a few tips. Think about:
Penalty points and speeding fines could result in a higher premium, so always drive carefully. And remember that if you get six or more penalty points in your first two years of driving, your licence will be revoked.
You could consider a Pass Plus driving qualification which could help lower your premium by demonstrating your competence as a safe and skilled driver.
The type of car you own, and its value
The value of your car, and even the model can affect your insurance. If your first car is a new, high-powered or luxury vehicle, your premium will most likely be higher. While a more basic model with a smaller engine might not be what you want, it could save you money in the beginning.
Fitting an alarm or immobiliser reduces the risk of your car being stolen and could help lower your premium. But check with your provider before forking out to ensure the savings will be reflected in your premium.
From an insurance point of view, popular modifications such as a new spoiler or stereo system put your car at a higher risk of being stolen. Some insurance providers may refuse to insure cars with modifications, while those that will might charge a significantly higher premium.
Limiting your mileage
Limiting the amount of time you’re on the road will reduce your risk of having an accident, and could help lower your premium. Your insurance provider will want to know your annual mileage, so try to set it as low as possible. Make sure your mileage is accurate though, as a false mileage count could invalidate your policy.
If you can afford to, it may be cheaper to pay your yearly insurance in one go. Monthly instalments could end up costing more as you might be charged interest.
Where can I compare young driver insurance?
Right here at Compare the Market. We independently compare more than 90 of the UK’s most trusted car insurance providers to provide young drivers with car insurance deals.
We’ll help you find and compare policies in a matter of minutes.
Compare cheap car insurance for young drivers today and see if you can start saving.