How to Find Cheap Car Insurance for Young Drivers Under £1000
A grand – it’s a ubiquitous figure isn’t it? Not all that long ago it represented an absolute fortune, nowadays it’s still a lot of money and in many cases it’s the benchmark for certain things that we consider to be ‘really expensive’. A camera for example, or a sound system, or what about a luxury fridge-freezer?
But it’s a relative figure, it’s cheap say for a car, but what about the price of insuring one for a year?
Well, that depends of course on who, where and how old you are and of course what the car is.
So if the challenge is cheap car insurance for young drivers under £1000, then the first word of the sentence belies just how relative that figure is. We would, it seems have to consider our ‘grand’ as cheap or at least in the context of the purchase.
We are only too aware of the accident statistics when considering young drivers, so obviously we mean ‘relative’ to older, more experienced drivers. And in the context of young drivers, if we are considering the prospect of cheap car insurance for young drivers under £1000 in the case of say, a seventeen or eighteen year old then we are unlikely to get much change from this princely sum.
But the real question is this. Is the challenge of cheap car insurance for young drivers under £1000 one that the insurance companies could realistically be expected to respond to?
It is fascinating to note that they are doing just that, and it is also indicative of the fact that the industry recognises that providing young people with adequate and affordable cover is a commercial imperative.
We are already quite familiar here in the UK with the methods by which young people can use online car insurance comparison to research quotes, compare companies, and the relationships between policy and cover, so it could be argued that depending on certain factors affecting cover and discounts, cheap car insurance for young drivers under £1000 is potentially achievable.
But ‘potentially achievable’ does not really step up and answer a challenge does it?
Well, the other thing we know is that insurance companies hold detailed information on risk. Information which in the case of young people tells them a great deal about how and where they are likely to have accidents, what kind of vehicles they are more likely to have them in, and here’s the interesting thing – when they are likely to have them.
So an intriguing aspect has entered not only the challenge of cheap car insurance for young drivers under £1000, but also the whole motoring world.
There is one little invention trying to combat this however, and it’s called the black box.
We’re not quite at aviation industry level yet, but one company (and more are set to follow) has come up with a novel idea.
Put simply, it works like this. If you promise not to be out in your car late at night, the provider will slash your premiums by as much as 40 per cent.
If you break your promise, the tracking device will know and you will have to pay for the privilege. The same rules can apply to your general driving on a sort of ‘insure as you go’ basis.
Draconian? Orwellian? Or maybe just plain fair and sensible.
There will of course be issues to debate, there always are, but as things stand, if you aren’t forced to fit one and it could save you money then the issue may be no different to the contract or pay as you go economics of your mobile telephone.