Young Drivers- Car Insurance Tips For Getting a Cheap Deal
According to statistics, young drivers are more likely to experience an accident and make a claim. This, as a result, tends to make their car insurance costs skyrocket.
Getting cheap or affordable young drivers- car insurance may feel impossible, but there is a lot that you can do to keep the rates down. From buying the right car to limiting risk and increasing security, these tips will certainly help you land on cheap auto insurance.
Get the Right Car
Let us start with the basics. It is pretty clear that your choice of vehicle will have a significant impact on the cost of your insurance. Simply put, the higher the performance of a vehicle, the higher the cost of insuring. Yes, that Ferrari sounds great, but it has a higher risk of getting into an accident and cost a fortune to repair. There are various high-performance car insurance deals, but chances are you will be forced to pay through the nose for an excellent deal.
Consider a Black Box Policy
Ideally known as telematics, black box policies utilise an application or a small gadget that is installed in the vehicle to monitor driving behaviour and usage. Such policies can help reduce the car insurance cost. That is because the insurer is able to base your premiums on actual driving habits instead of assuming that every young driver has a high chance of making a claim. With a black box policy, you can be able to save an average of €1,000 given that you have zero claims.
Avoid Car Modifications
Vehicle modifications like body kits, alloy wheels and rims tend to appeal to young people wanting to personalize their medium sized vehicles or simple looking ones. However, if you want the best deal from your insurance company, then you may want to avoid them as they only increase the premiums.
However, if you really want to modify your car, at least think of installing cheap parts, so that you can lower the premiums.
Increase Your Excess
Pay Annually Instead of Monthly
The average auto insurance for young drivers is about €1,000 and this makes most of them hesitate to shell out a lump sum and pay per year. However, it is usually cheaper to pay for the entire year in advance, rather than paying per month. You will avoid the monthly interest, which ends up saving you a significant amount of money.
Add a Named Driver
You can also reduce the cost of young drivers insurance by adding another named driver to the policy, particularly if they are more experienced on the road or older. However, you should avoid fronting, the act of putting the policy in your parent’s name, with you as the named driver while in reality, you are the main driver. This act is illegal and could lead to insurance companies rejecting your claim. Also, keep in mind that adding too many drivers to the policy can increase the premiums, so keep the named drivers to a minimum.
The Level of Cover
Comprehensive and Third Party Fire & Theft are the most popular levels of cover. You might think that the latter is cheaper, as it does not cover damage to your vehicle, but this is not always the case. In fact, the average third party fire & theft premium is costlier than comprehensive cover as it is usually picked by younger drivers who tend to make claims. So, keep this in mind when comparing auto insurance. Ideally, do not search for cheap coverage for based on the price alone. You ideally need to evaluate what type of cover you need. Skimping on quality over price may end up costing you more in the long haul.
Limit The Risk and Increase Security
Auto insurance can be cheaper if you park your vehicle in a driveway or garage overnight instead of leaving it on the street. Also, adding various security features like an immobiliser or an alarm can help reduce the costs of your coverage. Learn about the importance of car insurance for vehicle repairs.
Get Your Own Policy
Initially, it might be cheaper to be a named driver on the policy of your parent, but that is no longer an option when you get your own vehicle and become the primary driver. The first few years will be steep in regards to premiums, but after that, you will start earning no claims bonus and instantly get you a discount on your annual premiums. So, the sooner you have your own policy, the sooner you will start earning those sweet reductions.
Do Your Homework
Conducting research is one of the best ways to get great young drivers- car insurance deals. The internet is a resource, so do not hesitate to use it. Most insurance firms have quote checking options on their sites. So, look up a number of auto insurance providers and compare all your prices based on your specs. If you want, you can ideally call the company and barter with them. It does not always work, but it does not hurt to try.
Improve Those Driving Skills
You can take the Pass Plus driving course to show that you are committed to enhancing your driving skills. This is a test that is aimed at young drivers during their first year to help them become safer drivers. Some insurance firms are known to give discounts to those who have completed the course. Learn how to improve your driving skills!
A combination of all these factors can certainly help you get cheap deals on young drivers car insurance.