Know About Car Insurance Meant for Young Drivers
Generally, car insurance for any young driver tends to be very expensive and often it can also cost more than even your first car. Therefore, it will be very useful for all new drivers to get an idea of what can affect your premium and how you can get a better deal and get a certain discount on the premium.
Money Expert can be very helpful for you to provide all the necessary guidance when you are buying any kind of car insurance including car insurance for young drivers.
Recently, the insurance cost of a car for under-25s has sharply dropped because of the various lockdowns, and as a result, there have been very fewer claims. However, from Jan 2022, there will be a huge shake-up in car insurance.
Most insurers may be banned from charging for renewing customers more than any newbies. This will end up with higher prices and also less competition for switchers. Therefore, this is the right time to check so that you can save.
The following are a few ways any young drivers can buy cheaper car insurance.
- Make a proper choice of car
All cars are assigned a certain insurance group number starting from 1 – 50, and 1 being the cheapest for insurance and 50 is the most expensive.
So, drive a car that is in a lower insurance group to reduce your premiums easily.
- Include a low-risk driver
You can include your parents and they can be a good bet, but remember they cannot pretend as the main driver, which is called ‘fronting’ and not allowed legally.
- Number of miles driven
While applying for insurance, a question will be asked about how much distance will you cover and how often you will use the car, etc. If you declare fewer miles and also less frequent use then your premium will be lower.
- Shop around to get your best deal
Make a comparison by visiting the websites of many other insurers. Doing a little research, you can find a few specialist insurance providers for the young person.
- Ask an expert
After having a few good quotes, you can call an insurance broker to ask them how to beat it. They will do the necessary leg work and then call you back again.
- Pay upfront
You may find monthly premiums more affordable, however, a certain amount of interest is also included in that. However, if you pay a yearly premium then interest will be deducted and will come out to be cheaper.
- Pay a more voluntary excess
By paying a higher voluntary excess you can keep the costs down, however, if you will ever make a claim then you will finally pay more.
- Eliminate all unnecessary ‘add-ons’
There may be many unnecessary add-ons added to your insurance that you may never need that you can eliminate.
- Drive safely
By driving safely, you can avoid the accident and thus get a no-claim bonus.
- Advanced driving course
You can also join any advanced driving course that can push your premium down.
We hope all these tips will help you to reduce your premium.