How to make car insurance cheaper for young drivers? The good news, there are plenty of simple options available to young drivers looking to save money on their insurance.
Young drivers tend to be the most expensive to insure because they are more likely to be involved in an accident, with about 25% of claims being filed by drivers under 25 years of age.
When determining the cost of a policy, insurers also consider a variety of other factors, including:
- Vehicle
- Job title
- Claims history
- Postcode
- Annual mileage
- Car modifications
How To Make Car Insurance Cheaper For Young Drivers
Follow these amazing tips and tricks that could help you get a cheaper car policy:
1. Adding a more seasoned named driver to your contract
An experienced driver who has a good driving record is less likely to be involved in an accident. As a result, they are cheaper to insure because they are less likely to file a claim.
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Adding a named driver to your policy, like a parent, can help lower your overall risk and make your car policy more affordable.
It’s also worth looking into whether it would be more cost-effective for you to add yourself to a named driver’s policy.
However, the person who uses the car most must be also listed as the primary driver.
If you’re listed as a primary driver but don’t drive most of the time, you may be engaging in insurance fraud, known as “fronting.”
Fronting is illegal, and if you’re caught fronting your car insurance, it could invalidate your policy and make it more difficult for you in the future to get a car policy. Don’t take the risk.
2. Select a lower-cost vehicle
Every vehicle in the UK is classified into an insurance group from 1 to 50. Insurance companies use these groups to calculate the cost of your car insurance.
In general, the higher the insurance group, the higher the cost of your insurance policy. For example, a car in an insurance group of 1 will cost less to insure than a car in one of the insurance groups of 50.
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We’re all about being helpful, so we’ve created an easy-to-use insurance group checker to help you find out which car (or car you’re interested in buying) you’re in.
3. Enhance your vehicle’s safety but don’t make changes
The installation of security features such as dash cams and parking sensors, as well as locking wheel devices, can reduce your insurance costs.
These features make your car safer and less vulnerable to theft. In some cases, installing a dash cam can even lower your car insurance costs.
On the other hand, performance and cosmetic modifications such as changing your car’s engine or color can increase your insurance costs.
However, some insurers do not cover these modifications at all. Insurance companies that do cover modifications often charge more, as modified cars are more risky to insure.
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4. Drive safely
Policing offenses such as speeding can lead to an increase in your premium because it shows you are a high-risk driver. Having six or more points on your driving record within your first two years can also lead to your license being revoked.
Driving carefully can help you build a good claims history and could help to lower your insurance premiums.
Some insurers will offer you a discount if you complete the Pass Plus driving qualification. However, the cost of the course is between £150- £200, so it’s important to check that it will reduce your policy costs before you spend your money.
5. Get on the electoral roll
Voting makes it easier for insurers to verify your identity when you receive an insurance quote. Drivers who are not on the electoral register are often charged more for an insurance policy because it is more difficult for insurers to prove their information is correct.
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6. Consider a black box or telematics
Insurers can monitor your driving behavior using a “black box” (also known as a telematics device) that is installed on your vehicle.
Some insurance companies reward you for good driving behavior with incentives or discounts, while others penalize you for bad driving behavior.
7. When it comes to mileage, you want to be as precise as possible.
When buying car cover, most insurers will ask you to provide an estimate of your annual mileage to calculate how often you are likely to be on the road (and therefore how likely you are to be involved in an accident).
The higher the number of miles you drive, the more expensive your cover will be, so don’t just click the ‘highest’ option. Instead, think carefully and calculate your expected miles (we’ve even created a mileage calculator to help you out).
Be sure you’re as accurate as possible, or else you run the risk of having your policy voided. And don’t forget to include any longer trips you may have.
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8. Adjust your voluntary excess
The excess is the amount of money you pay when you file an insurance claim. You can set your voluntary excess or opt not to pay any excess at all.
The higher your voluntary excess is, the less expensive your car insurance policy is.
However, it’s important to remember that you’ll need to pay a certain amount of money to be able to file an insurance claim for damages to your car.
9. Improve your credit score
If you have a good credit score, you may be able to save money on your car insurance premiums.
Third-party car insurance isn’t always the most cost-effective option
Third-party car insurance is a type of insurance that only covers damage to other people’s vehicles or injuries to other people.
Third-party car insurance can be cheaper in the short term, but it will cost you more in the long term because you’ll have to pay for the repair or replacement of your car if you ever get in an accident.
In some cases, a fully comprehensive policy will be cheaper in the long run because it will cover the cost of fixing or replacing your car, and you’ll usually get a payout in case your car gets written off.
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It’s important to read the terms and conditions carefully and make sure you’re getting the coverage you need. If there’s anything unclear, contact the company to find out more.
