If you have wondered how you can get cheaper car insurance as a young driver then you have managed to find the right article. Car insurance is very expensive for young drivers because statistics and research show young drivers are more of a risk.
But you can get cheaper car insurance as a young driver, and the following comprehensive tips will help you do that:
1) Target smaller companies
The bigger companies don’t need your business, but the smaller companies do. They are generally more willing to offer you early no-claims discounts, discounts for having a clean record, and lower prices overall.
2) Negotiate your mileage
Insurance quotes are calculated on the average mileage that most people do in a year which, in the UK, is about 8,000 to 10,000 miles. If you drive less than this, see if you can negotiate a cheaper price based on your mileage.
Of course, you’re going to need to prove it.
3) Your security
Where your car parks, day and night, and the kind of security it has (alarm system etc.) makes a big difference to the cost of insurance. If you can change any of these factors then you should do so in order to gain cheaper insurance.
4) Raise your excess
A higher excess (the amount you pay if there is an accident or something is stolen) means a lower monthly premium.
5) Look at the perks and extras
A lot of the time you end up paying for perks and extras you don’t need or won’t actually use. These help to bloat the price. Try and get a very basic insurance contract.
6) Do an advanced driving course
The Pass Plus is the most well recognised, but there are other advanced driving courses too.
These will help to lower your premium.
7) Do a thorough analysis of the different kinds of insurance
You may not need Fully Comprehensive (in fact, you probably don’t). See if Third Party Only is going to work for you as it is much less expensive.
Keep to a conservative car
Insurance companies don’t like young people behind the wheel of a performance car. You should rather purchase something conservative. If you are an enthusiast you are going to need to find a specialised insurance company that insures performance and/or modified cars.
9) Fronting
If the insurance company agrees to let you put the policy under an older relative’s name then you can do this to lower your insurance cost. However, if you are the principle driver of the vehicle but it is in someone else’s name, your policy can be voided.
10) Keep your record clean
Many of the smaller or internet-based insurance companies offer discounts for having a clean record – some giving you a 40 percent reduction in your insurance premiums if you can keep a clean record for one year.
11) For the ladies – check for women’s insurance
There are many companies out there which offer cheaper prices for women. You should take advantage of this if you can.
12) Study well
Many insurance companies offer discounts for good grades.
13) Use electronic payments
Even if it is a small amount, insurance companies put their cost of billing into your premiums. But electronic billing is much cheaper and you should therefore be able to lower some of your premium if you opt for electronic billing.