How to Get Cheaper Car Insurance for Younger Drivers
Car insurance is notoriously more expensive for younger drivers than it is for older drivers. Many young people struggle to find an affordable deal, having to shop around extensively before settling for an underwhelming insurance plan with high premiums. As such, it pays for young people to know how to get cheaper car insurance, and this month, we’ll be looking at just that. But first:
Why Is Car Insurance Expensive for Younger Drivers?
Above all, it is the fact that insurance companies are taking a risk by insuring young drivers that results in an expensive premium. Statistics show that young drivers are far likelier to be involved in collisions than older drivers, as a quarter of all serious road collisions involve under 25s. Though this reasoning may sing as fundamentally unfair to millions of young people, there are a number of ways they can still find cheaper car insurance.
Finding Cheaper Car Insurance
There are a whole load of factors that affect the cost of car insurance. Making careful decisions in each of these areas may see your premium decrease. Areas for consideration include:
- Finding the cheapest cars to insure: Some cars are more expensive to insure than others. Buying a car that is cheaper to insure in the first place will shave a lot off your premium. Cars are ranked in groups from one (cheapest) to 50 (most expensive). They are classified on things like acceleration, the car’s value when new, how much individual parts cost, and so on.
- Paying a higher excess: If you choose to pay a higher excess, insurers will be more willing to insure for a cheaper premium. An excess is the amount of money you say you’re willing to pay up front if you make a claim. This must be offset by how much, realistically, you could actually pay up front.
- Paying only for what you need: There are a number of different policies out there, most priced differently. You should only pay for what you need – there’s little point in buying a fully comprehensive policy, for instance, if you use the car rarely and it’s kept securely in your garage.
- Adding an experienced driver to your policy: A second, experienced driver on your policy has the potential to reduce your premium. However, this experienced driver cannot be named as the primary driver (to reduce costs further) if they don’t drive the car more than the younger, newer driver.
- Paying annually: Some may not be able to afford to pay the annual insurance cost in one go, but doing so may save you a fair bit.
- Securing your car: You aren’t just insuring your car against accidents; you’re also insuring it against theft and criminal damage. Consequently, if your car has outstanding security features, or you take measures to secure it, your premium may come down.
- Considering telematics: Telematics is a method by which insurers monitor a driver’s driving behaviour and adjust the cost of the policy offered accordingly. If you are a safe driver, you will pay less for your insurance. Think of telematics as a kind of ‘black box’, except for your car. Certain telematic policies also treat insurance like pay as you go, so if you don’t drive often then you only pay for the time you are on the road.
As you can see, there are a number of ways that young drivers can try to reduce the cost of their car insurance. It also pays to avoid price comparison websites – by going directly to providers, you may find yourself a better deal than these websites, just as we aim to achieve here at The Insurance Store.
The Insurance Store offer unbeatable car insurance policies from our base in the St Albans and Harpenden area. Whatever your insurance needs, we’re here to help. We pride ourselves on our ability to beat quotes given by price comparison websites and our professional team are excellent at seeking out the perfect package for your needs. So for friendly advice or a no obligation quote, contact our team today.