Passing your driving test is a big accomplishment, and beyond that, it’s probably a huge relief to no longer have to be forking out for driving lessons every week. But unfortunately, the costs don’t stop once you’ve learned to drive: you then have to buy a car (either outright or on finance) and get insurance. Insurance premiums for young drivers are indisputably terrible. And while there’s nothing you can do about your age or how long you’ve been driving, there are, at least, a few things you can do to reduce your spending on car insurance.
This article discusses how to save money and secure affordable car insurance as a young driver.
Car insurance by Nick Youngson CC BY-SA 3.0 Pix4free
Get Added to your Parents’ Policy
One option to consider is becoming a ‘named driver’ on your parents’ insurance.
While your parents will have to pay more for their own cover, it’s still cheaper overall than if you take out a separate policy. However, there is one key setback to this option: you’ll only be able to drive your parents’ car, and they have to be the main driver. So it’s probably only best if you live at home and want a car to nip around in, but don’t need it for your daily commute.
Another thing to be aware of is that making a claim on this policy will affect your parents’ no-claim discount, which is obviously not fantastic for them.
Get a Black Box
You’ve probably seen a few bumper stickers about black boxes in recent years, and these drivers are all using black box policies.
The idea of black box insurance is that your car gets fitted with a device (aka. the black box) that monitors your driving Your braking, driving speed, and cornering, as well as the times you drive in the day, will all be logged. Your insurer will then offer you a premium that’s personalised based on this data.
So, as long as you can drive safely and sensibly (which honestly should be a given anyway), and you don’t drive too much at night, you should be able to get a better deal with a black box premium.
Go For a Cheaper Model
Maybe you’ve always dreamed of a car with a big engine and want to get behind the wheel of something powerful the moment you pass your test. But keep in mind that these cars, with their ability to accelerate quickly, are considered more of a risk by insurers than cheaper models with smaller engines.
So, unless you have your heart set on a certain model, it’s best to start with a cheaper car that is simply less capable of getting you into that kind of trouble.
Shop for Deals
The thing about insurance companies is that their policies are always changing, and you’re always going to find a better deal elsewhere.
When you’re shopping for your insurance, use a comparison tool to help you save money and choose the best Young Car Driver insurance available at the time (just make sure to read the policy terms carefully to make sure it offers the cover you need).
It’s also good to do the same thing when you come to renew your policy. If you find a cheaper deal online, you can haggle with your insurers to try and bring the price down. Otherwise, say goodbye and move on to that cheaper provider.
So, being a young driver is not fun as far as insurance is concerned. But if you follow the advice in this guide, you should at least be able to save yourself a bit of cash.
