Young Drivers’ Guide To Insurance

One of the most exciting things for many people is turning 17 and being old enough to learn to drive. It is a life event that we all have the chance to experience, but over the last few decades, the cost of being able to drive when you have done the hard work and passed your test has skyrocketed making it almost impossible for younger people to afford. If you are concerned about the costs here are some vital bits of information that will help you keep the expenses as low as possible and get you out on the roads sooner rather than later after that all-important pass certificate is issued. 

A Higher Risk

When it comes to car insurance, younger drivers are considered a higher risk. With little experience of the roads, especially without an instructor in the car, it is hard to be able to think of younger drivers as anything but, sadly. Less awareness of hazards combined with a willingness to take risks add up to higher insurance premiums. It is also worth understanding what else goes into the calculation pot to arrive at a price for your car insurance. First of all, the car you are looking to insure, the bigger the engine, the more powerful or modified, the more the premiums shoot up. Go for something small and basic if you want to help yourself here. Your geographical location, where the vehicle is kept, whether you have any no-claims and what you do for a living is also taken into account, and there is not much you can do here to change anything. 

Your Policy

There are three standard levels of car insurance cover offered, Third Party, Third-Party, Fire and Theft, and Fully Comprehensive. These get more expensive for all drivers as they increase in levels of protection, but don’t be tempted just to go for Third-Party as this is not always the best solution to your high premium conundrum. Whatever cover you opt for you should only claim when absolutely needed, so if you can afford to pay for things yourself, suck it up as a year of no claims is worth more in the long run. Opt for a higher voluntary excess as this will help too, you will have a compulsory excess which you cannot alter but agreeing to pay more as a voluntary excess will also help bring premiums down.

Consider A Black Box

A black box or telematics is a piece of kit fitted to the car that monitors your driving. This allows insurance companies to make a genuine judgement on your ability and means you will think twice before taking risks. While some people feel it is a bit ‘big brother’ most realise it is the quickest way to proving you can be trusted. Your insurance company will send you a device to install in your car, and it provides real-time data on how you drive the vehicle. If you drive well, your reward at renewal will be a premium lower than someone who did not use a black box.

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