How can I reduce the cost of car insurance for under 25s?
Luckily, there are several things you can do that might lower your premium if you’re under 25.
Check the insurance group
Most cars belong to one of 50 insurance groups and, as a general rule, the lower the group number, the lower your car insurance is going to be. As ever, there are exceptions, so always make sure you check which insurance group a car is in before you buy it.
As much as you might like to add alloy wheels and a spoiler, modifying your car is a definite no-no. Modifications and upgrades could increase your insurance as they can make your car more of a target for thieves.
Take an advanced driving course
A Pass Plus course takes at least six hours to complete and is for new drivers who want to improve their driving skills. Some insurance providers may reduce your premium if you successfully complete the course.
If you can afford to pay for your premium in one lump sum, you’ll save yourself the interest that you may be charged when you choose to pay by monthly instalments.
Up your voluntary excess
You could lower your premium by choosing to pay a higher voluntary excess, but think carefully before you do. It could cost you more if you have an accident as you’ll need to pay the voluntary excess you choose as well as the compulsory excess set by your insurance provider.
Improve your car’s security
Fitting an approved security system, such as a car alarm or immobiliser, could mean reductions in your car insurance.
Add a named driver
Consider adding a more experienced driver to your policy if they’re going to be using the car too. As you’ll be spending less time behind the wheel, your chances of having an accident are reduced so your insurance provider could cut your premium.
But if you use the car most often, you must be the main driver. If you put forward the more experienced person as the main driver when that isn’t actually the case, you’ll be committing a type of fraud known as fronting – and you could be prosecuted.
Consider the level of cover you need
Don’t assume that third party only cover is the cheapest option for you. With comparethemarket.com, you can compare the three main types of car insurance – third party, third party fire and theft, and comprehensive – to find cover that suits your needs.