This is one of the reasons why there have been an increasing number of young people driving their cars on the road without insurance. The costs are forcing many young drivers to take this huge risk because they need their cars but cannot afford to insure them.
However there are some ways in which you can find affordable young drivers insurance policies. This means you will be able to insure your car and drive legally and with peace of mind on the roads.
Reduce Your Risk
There is a good reason why young drivers insurance is so expensive. Statistically young drivers are much more likely to have an accident or incident on the roads and need to claim against their insurance. This makes them a high risk factor for insurance companies (in other words could cost them more money). Therefore you need to take as many steps as possible to reduce your risk.
Advanced Driver Training
There are many courses available these days for advanced driver training. Once you have passed your test it is a good idea to invest in one of these courses such as the Pass Plus. This will not only improve your own driving skills and confidence but can also reduce the risk you represent to the insurance company. Many insurers offer discounts for those under 25 years old that have successfully completed advanced driver training courses.
No Claims Bonus
This bonus is another key way to reduce your risk. With a no claims bonus record you can show insurance companies that you are less likely to make a claim and therefore a lower risk policy holder. Even just one year's worth of no claims bonus could gain you discounts on young drivers insurance. You can also pay a small fee to protect your no claims bonus for future savings.
Reduced Mileage
Many people don't realise that they could get discounts on their car insurance with low mileage. If you do fewer than 10,000 miles per year then you will be statistically less likely to be involved in a road incident and claim on your insurance. Make sure you notify your insurer if low mileage applies.
Voluntary Excess
You could also consider opting for a higher excess. The excess is the amount you pay for repairs before the insurance kicks in. So for example if you opt for £500 excess then in most cases you can get more reductions in your premiums than with a lower standard £250 excess policy.
Shop Around
Another important way in which you could save on young driver car insurance is to shop around. It really is a buyer's market out there when it comes to car insurance. This is a highly competitive industry and there are many insurance providers vying for business.
• You need to shop around the different providers and see what kinds of young drivers insurance policies are available.
• Look both online and also in the print media (magazine adverts and so on) for top deals currently available.
• Compare a few different deals and see what they can offer you both in terms of savings and cover.
• You do need to make sure policies can offer you the right cover. There is no point choosing cheap young drivers insurance if the cover is not adequate for your needs.
If can be difficult getting young drivers insurance that offers affordable and effective cover. However if you take the time to reduce your risk factors and shop around for deals you could find good policies on the market.
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