All You Need To Know About Insurance For Young Drivers


As a young driver you don't want to be paying through the roof for insurance, so here are some tips to avoid such an issue.

  1. Choosing The Level Of Coverage

Choosing the level of insurance coverage can be complicated, but there are considerations that you can make to help make the choice simpler.  For example, if you feel you'd struggle to replace a car if it was written off in a car accident then you should opt for comprehensive insurance.  If, however, you are driving a car that is worth only a few hundred pounds, it may be worthwhile to look at the cheaper third-party insurance.  Oddly enough, full comprehensive coverage often costs less than third-party insurance so check the cost of both.

  1. Reducing The Insurance Risk

The first step to reducing insurance risk is to drive safely.  No accidents, insurance claims or points on your licence will indicate that you are a low-risk option for the insurance company.  Furthermore, when it comes to insurance renewal the premium will fall drastically.

It is also possible to reduce risk by driving less.  Less driving means lower mileage, and lower mileage equates to cheaper insurance.

Driving a car in low insurance groups can reduce insurance risk because insurance agencies tend to charge more for vehicles that are costly to repair.  Try to avoid vehicles with powerful engines or customised alloy wheels.

Being a low-risk driver can include having a low-risk secondary driver, such as your parents.  Of course, you shouldn't use your parents as a main driver as this is illegal and is known as ‘fronting'.

  1. Pushing Down The Cost

Contrary to belief, by paying a voluntary excess as part of the insurance you will help lower the premium.  You need to remember, however, that if any claim is made you will need to pay more toward the mandatory excess yourself.

Another way to push down the cost is by having your name placed on the policy of another individual as a second driver.  This is beneficial because you will receive a named driver, no claims discount; however, you need to be over the age of 25 with a good driving record to do this.

You could avoid paying monthly instalments to reduce the cost or think about engaging in an advanced driving course.  It is recommended that you check if you will receive a better deal when doing this.  Find out more about the Pass Plus policy by reading the GOV.UK website.

You can also use the ‘pay as you drive' policy to reduce costs and fit a ‘smartbox' to your vehicle.  The ‘pay as you drive' smartbox operates by recording all acceleration, braking, cornering, and driving time when you are on the road.  This will help you determine how safe you are as a driver and your driving style.  The smartbox will then charge you insurance every 90 days.  The price will differ according to the calculations; therefore, bad driving can increase the insurance or see the policy being cancelled.

The ‘pay when you drive' insurance policy works by tracking the vehicle's mileage and the time of day when you drive.  Both of these policies are relatively new, so it is difficult to determine their value for money.  They are worth looking at, but traditional insurance policies may be more cost-effective.

  1. Compare Policies

To find the best insurance policy, it is recommended that you contact companies and compare quotes.  The more time you invest in finding the best quote, the more likely you are to receive better coverage at an affordable price.  Use the advice available on MoneySavingExpert for comparing insurance sites.Try Money Expert for cheaper insurance.

  1. Review The Insurance Policy

Before purchasing an insurance policy, it is advised that you read the policy closely.  Fake insurance companies tend to target young drivers; therefore, you need to check the company and the policy to avoid being scammed.

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