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Young Drivers Survivor Guide: Top 5 Tips
As if the stress of learning to drive isn't enough; then comes finding, buying and insuring your first car.
The finding and buying part can certainly be fun but be prepared for a shock when searching for your first car insurance policy. Insurance companies tend to penalise young first time drivers, who they see as more of a risk, and your first policy could set you back anything up to and over £2-3000.00. There are of course ways to bring this cost down and by making a comprehensive search of insurers you're sure to knock more still off the bottom line.
Take a look at the following top 5 easy tips to increase your chances of getting cheap car insurance:
1: Buy Small; starting off with a small and practical car with an economical, slower engine will show the insurer that you are less of a risk to them. Popular models such as the Vauxhall Corsa, Renault Clio and Ford Fiesta in 1.2-1.25 engines will do just that.
2: Take it Further; once you've passed your test, consider taking the Pass Pluss course with your instructor. This will not only build up your confidence in certain driving conditions but will also indicate you as less of a risk; many insurers accord this similar status to 1 years no claims bonus when dealing with young drivers car insurance.
3: Ask a Parent to help; adding a parent to your policy as a second driver can help to bring the cost down but be sure they do not have any points or claims under their belt and do not be tempted to add them as the primary driver; this is called fronting and will void your insurance as well as being classed as fraud.
4: Limit your mileage; all car insurance policies come down to a measure of your perceived risk to the insurer so ensure you are as accurate as possible when it comes to indicating your annual mileage. If you will not use the car much select a lower (but accurate) mileage. Security is also a chief concern as are modifications. Storing your car in a garage overnight and resisting the urge to modify it will make a big difference to your premium.
5: Increase your Excess; there are several optional elements of a car insurance policy such as legal, accident and breakdown cover which you can choose to remove. Following an accident you would be required to pay an excess before any claim is paid; increasing this voluntarily (make sure you can afford to pay should the unexpected happen) will lower your premium total noticeably.
Another option worth mentioning is the new breed of pay per mile insurance policies such as that offered by insurethebox. A tracking device is fitted to your car which measures how you drive and how far you go. 6,000 miles comes as standard and you can bolt on top-ups in 250, 500 and 1000 mile amounts.
Follow the 5 easy tips above should ensure you reduce the cost of your first policy substantially - making use of a price comparison website can help even further.