Drivers under the age of 25 are more likely to be involved in a driving accident compared to drivers over the age of 25. Given this information, it makes sense that insurance for young drivers is more expensive but in some cases it can even seem extortionate.
When buying a car after recently passing the gruelling driving test, choose a vehicle which is in the 1 to 5 car insurance group. The car insurance listings is very diverse with groups ranging from 1 to 5.
It is often the case that young drivers wish to modify their simple hatch backs by adding different body kits and alloy wheels. Whilst this personalisation is appealing, it should be avoided when getting a cheap car insurance deal as they can add several hundreds of pounds to you insurance cost.
The Pass Plus scheme is designed to give new drivers extra experience on the road. It is offered by most driving instructors and it’s an addition to your driving license. The extra six hours with your driving instructor allows you to obtain a discount from big insurance names such as Endsleigh and AA.
By choosing to pay a high voluntary excess, you are letting the insurer know that you will contribute more money towards any claim you make on the vehicle. However when making such a commitment, make sure that you can afford to make the upfront payment.
With a high upfront cost, young drivers prefer to pay on a monthly basis. But if you choose to pay the annual premium at the start of the policy then you would save lots of money over the year due to the savings on the monthly interest.
Third party coverinsures that the counterparty claimant is offered compensation to fix their car and/or accident related injuries. However, this is not the case for you own vehicle.To cover both yours and the claimant’s car you will need comprehensive car insurance, which is NOT always more expensive. According to the association of British insurers, the typical third-party, fire and theft premium is more expensive than comprehensive car insurance as it is frequentlypicked by young drivers.
If you make your car more secure, then the premium on the car will fall. For example, you can get an immobiliser fitted in the car or even minimise risk by parking the car in your garage as appose to the street.
Typically you can add a more experienced driver as the named driver on your policy to help reduce the premium. But if you are the regular user of the vehicle then you have to be the named driver on the policy. If you fail to declare this fact then this will be deemed as “fronting”. As you might expect, this is illegal and will result in insurers rejecting the claims.