Whether you’re looking for Young Drivers Insurance for yourself or you’re a parent looking to add a young driver to your own policy this year, Forces Compare works with a range of different insurers, helping to ensure you find a great policy of your needs at a great price.
For young drivers aged 17-25, the premium for car insurance is usually higher than average as young drivers are considered to be at a greater risk of being involved in an accident. Other than having less time on the road, young drivers are known for taking more chances and having less experience spotting hazards. However, with the right advice, you can keep the cost down and find the best policy for you.
How to lower the cost of Insurance for Young Drivers
Insurance for Young Drivers is typically around £1,200 per year* – but this price can be reduced following a few basic steps:
Adding additional drivers – Having an additional driver such as a parent can lower the cost of the premium, especially if that extra driver has a lot of experience under their belt and has a history of few claims made. However, parent drivers must be aware of pretending to be the main driver of the vehicle when they are not. This is known as ‘fronting’ and is seen as an illegal tactic to lower the cost of young drivers insurance and can lead to prosecution.
Black box insurance – This involves installing a little telematics box in your car, which looks like a little black box. The technology uses satellites to measure your usage and insurers can use this provide the most accurate and sometimes more cost effective premium.
Drive safely – This might seem obvious but driving safely during your first years as a young driver can reduce the cost of your insurance. This is because as soon as you have accidents and start building up claims, the greater risk you become and the more it costs to insure your vehicle. It is therefore important to try build limit your claims so you can be eligible for a no claims bonus.
Take extra courses – There are extra driving courses that young drivers can take. For instance, The Pass Plus Scheme takes 6 hours to complete and is recognised by some of the insurers we work with who will consider you a better driver as a result and reward you with a better premium. This particular course is available for around £180 from any driving instructor and can reduce the cost of your insurance by 30 to 40%.
Avoid car modifications – Young drivers can always be tempted to modify their vehicle with lights, wheels, speakers and more. However, the additional modifications will naturally increase the cost of your premium because the vehicle will be worth more, and more expensive to replace parts in the event of an accident. With this in mind, it is worthwhile to avoid modifying the car if reducing the cost of your insurance is a priority.
Pay in full rather than monthly payments – Insurers will give you the option to pay your Young Drivers Insurance in full or in monthly payments. Whilst paying in monthly instalments provides a flexible repayment method, insurers may add a cost of top of up to £200 so it’s worth trying to pay the balance in full whether its through your savings or borrowing money from your parents.
It’s worth getting a new Young Drivers Insurance policy each year
It might be convenient to simply renew your existing insurance policy but for young drivers, you should be able to get a much better premium provided that you have not made any claims. Plus, signing up to a new insurance company may give you some nice introductory add-ons.
Insurers will usually send you a letter or email a few weeks leading up to your renewal. At this point, it is worth considering your options and speaking to one of our insurance experts to see if you can get an even better rate.