Car insurance for young drivers

As a young driver there are two options available to enable you to drive fully insured. The first option is to be added as a named driver under your parent’s car insurance policy. The second option which is more appropriate for young drivers who have recently purchased their own car is to take out insurance cover themselves under their own name.

Unfortunately, not to put a puncture in the tyre, but the cost of insuring your own car under your own name means you will probably pay a higher premium in the initial period of having your own insurance policy. There are several reasons for this. Firstly, as a young driver, it means you are new to the roads and are less experienced at driving and decision making. It is a process all drivers have to go through, but within one year you earn your first year’s no claim bonus. That means you may get cheaper young drivers insurance premium for your second year. The more years no claims you build, the chance of a lower premium. Another reason is that statistics show young drivers have more car accidents and are more prone to be the victim of vandalism, fire or theft. This all may sound very unfair, but the one thing that does work in your favour is that you control the type of car you wish to insure and hence, there are ways to lower your premium.

Major car insurance companies are primarily concerned with the level of experience a young driver has, therefore a reputable car company will offer discounts to young drivers who have taken the trouble to further improve their driving having passed their test. The Driving Standards Agency – Pass Plus Test enables you to further your driving skills. As a learner you were not allowed to drive on motorways, but the Pass Plus Test does, and motorways provide a very different challenge to drivers than other UK roads. The insurance company will see the time you have put into becoming a responsible driver and by passing the Pass Plus Test you can get a reduction on the cost of your young drivers car insurance policy.

Take into consideration the model of a car. Insurance companies define car insurance groups into which all cars are categorised for example: Group 5 consists of Ford Fiesta Zetec 1.4i 16v 5dr. Group 11 contains Audi A3 1.6 FSI 3dr and Group 18 which looks at VW Golf R32 V6 4Motion 3dr. The insurance group indicates the level of risk the insurance company feels there is linked with the vehicle. As a young driver moves up the groups the level of risk increases, so does the level of insurance. Therefore, try to choose a car from the lower insurance group.

Also steer clear from modifications. Keeping your car as standard will keep your premiums down. Alloy wheels, exhaust and muffler modifications, spoilers and trim kits all give a negative image to your insurer about your driving style. Also, these modifications become more attractive to thieves, again maintaining a high level of risk. Stay away from heavy engine modifications such as turbo kits, as hefty bills come along with it.

Reduce the level of risk. By installing an approved alarm system it can save you considerably on your insurance premiums. Also parking on a drive way or in a secured garage can help lower the cost of your insurance as you are reducing the risk of theft, break ins or accidental damage.

Lastly, understand the type of coverage you need. Lowering your estimated mileage can give you a cheaper premium, but never purposely under estimate it, as this could lead to complications. Comprehensive insurance normally works out to be the most expensive type of cover, but it may be worth the extra cost for all the advantages you will receive with this type of cover. Under no circumstances mislead your insurer or give false details to achieve a lower quote. You may save a small amount but when your insurance claim is rejected after an unexpected accident you may have to pay for the whole situation; such as damage to other vehicles involved, road furniture and injury compensation.