Everyone needs car insurance to drive on the road.
Young drivers are no exception to it. Whether they are driving on a provisional license or own a full license, they need automobile insurance to drive the car.
But, when you go out to buy vehicle insurance for yourself or when parents search for insurance for their teen sons and daughters, one of the most striking findings is that insurance rates for young drivers are substantially higher than the adult insurance premiums.
Why Young Driver Insurance Costs More?
Even though the young drivers drive fewer miles and shorter distance than the adult drivers, the 17-year-old young drivers are expected to pay almost three times more premium than all other age groups in the UK. In January, the young drivers paid a premium of £2,112 as compared with £767 of the all other age groups.
One of the simplest explanations of the high insurance premium for young drivers is that they are considered to be high-risk drivers with a higher probability of running into an accident.
There are almost 2.7 million young drivers under the age of 25 among which 1.3 million are under the age of 22 in 2017. The 2.7 million statistic shows that young drivers make up only 7% of the total UK drivers.
Nonetheless, they account for 25% the total drivers killed in the accidents driving above the allowed alcohol limit.
The high-risk behavior is attributed to various factors such as reckless driving and inexperience along with the biological reason that the risk center in young drivers is not fully developed. It is also evident in the fact that young female drivers are considerably more safe drivers than the young male drivers as the male brains’ risk center develops later than the women.
So, now we know that the high insurance premium is for real, the next thing is to know how to reduce it. Even though it cannot be reduced to the amount of average adult insurance premium, but it can be controlled.
How to get cheap car insurance for young drivers
Getting cheap or affordable young driver car insurance is possible if you play smart and do your homework. Just as you can find good deals on adult insurance, you can find discounted young driver insurance deal.
But, the question remains how you can find the good deals. How you can save money while staying insured entirely.
So, here is a complete guide to finding cheap car insurance for young drivers like a pro. No setbacks, no trial, and error, but get the right option right away.
How to Find the Right Young Driver Insurance
1- Enlist an Adult Driver on the Policy
Do you know that there can be more than one title on one policy?
Adding a reliable driver on your policy can lower the premium for you too. However, the adult driver must have a good driving record with no conviction.
So, one way of reducing the premium of your car insurance can be to stay on your parents’ insurance policy.
2- Bundle Up Insurance
If you are the only driver on the policy, then another way of lowering the premium can be by looking for bundle offers. Insurance companies prefer clients that buy more than one product from them and offer discounts to their regular customers. So, instead of buying car insurance from one company, health insurance from another and travel insurance from another, you can look for combined packages.
3- Choose A Low-Value Car
We all know that the estimated and actual value of the significantly affects the insurance premium. Especially in the UK, car’s worth plays a major role in its insurance premium.
Therefore, if you do not want to pay huge amounts of insurance, you can choose a low-value car model. Insurance-wise, it is not the best idea to drive the priciest car of your home. Instead, you should choose to drive the cheapest car in the home as it can save you money and can ensure peace of mind.
It can save you enough money to party harder with it.
4- Get Student Discounts
Some insurance companies reward good students with special discounts and lower rates. So, if you have been a good student and have secured good enough CGPA in your studies, you can ask your insurer if it provides a student discount.
Alternatively, you can search for the offers that are specially created for young drivers who drive to and from their educational institutes.
5- Get Multiple Quotes
For some of the people, shopping around is fun.
But, most of the people find it boring, time-consuming and a big hassle.
Nonetheless research and shopping around can you pay well in saving money on your insurance policy.
With free comparison websites such as Ensurance Compare, it is easy and quick to compare car insurance quotes for young drivers. You can collect and compare quotes from 100+ insurers within a few minutes.
So, instead of purchasing the first quote you come across, you should act smart and use these comparison websites.
6- Take a Defensive Driving Course
Another way to reduce your premium and increase your driving performance is to take the defensive driving course.
Consider defensive driving course as an investment for you that can go a long way with you. Insurance companies across the UK give considerable importance to the driving courses, especially for young drivers. Therefore, not only you will learn some good driving skills, you will get a good ROI in the form of a lower premium.
7- Pay By Mile You Drive
Young drivers drive lesser miles than the adult drivers. It is because that they usually use the car as their university or college transportation and usually live near the educational institute.
So, if you drive only a few miles a month, you do not need to pay all the extra money for the miles that you do not drive. A suitable policy in this situation can be paid by the mile. In this young driver’s insurance policy, you only pay for the miles your drive.
But, you should compare the costs carefully as per mile costs in this policy are higher than the other policies.
8- Improve Your Car’s Security and Minimize Liabilities
If you have a good care security system that can beat the thieves, you can expect a lower premium than the others. The reason is that good security means a lower claim frequency.
Also, a modified car seems like a dream in your young years. Be it alloy rims or a stereo system; the young drivers can get carried away with all the modifications. But, hold your horses if you want to get a lower premium. The modification can cost you additional money on your car insurance premium.
9- Improve Your Driving Performance
Finally, if you want a permanent solution to lower your premium that can work even beyond young driving years, then it is to improve your driving skills.
Young drivers are high risk because of their reckless and careless attitude and history behind the wheel. If you can improve your driving performance, i.e., ditch any driving convictions and lower your claims frequency, you can save money on your insurance policy.
- Keep your focus on the road and drive carefully.
- Do not text or call during driving and must abstain from the use of the phone.
- Do not drink and drive. Always ensure that your alcohol levels are within the state limits even if you are feeling perfectly fine.
- Do not drive when you are stressed or sleepy, i.e., when you are dizzy after an exam for which you have prepared all night.
- Avoid driving in the bad weather, and if it is necessary, you should drive slow and carefully.
- Always stay within speed limits and follow traffic rules.
- Consider installing a black box in your car that can monitor your driving performance and your insurer can determine your premium based on it. Black box insurance is significantly cheaper for young drivers than the average insurance policy.
Following these hacks can be your fastest track to find a young driver’s insurance policy within your budget.