How To Reduce Young Drivers’ Car Insurance Premiums

It is no secret that young car motorists are going to face huge car insurance premiums when they buy their first car often running into 4 figures.

Why is this – you may ask?

It is quite simply because a new young driver does not have the experience of someone older and, therefore, is more likely to be involved in an accident.

Ways to contain car insurance premiums for young drivers

Car insurance premiums for young drivers can be contained.

Just look at the following statistics: –

  • In the first year of driving one in five motorists will have a car accident.
  • In 2009, unfortunately 79 drivers in their teens were killed, 9,500 were injured slightly and 770 were injured seriously.
  • A minimum of one young driver who is in the age range of 17 to 24 was involved in 26% of accidents on the road.
  • Friday and Saturday nights include a larger number of accidents involving young drivers.

So, how can a young driver reduce or contain their car insurance premiums?

  1. Black Box

This is a fairly new type of car insurance where a “black box” is fitted inside the car and the way the car is driven is monitored. This includes such things as braking, speed, where and when the car is driven. In this way the premium is based upon the driver’s own performance rather than a set of statistics based upon an age range etc.

2.  Groups for Car Insurance

Each car is given a rating ranging from 1 to 50 dependent upon the likely cost of a claim. So, if someone drove an Aston Martin compared to another driver who had chosen a Ford KA guess which person is going to have less coming out of their bank account when their monthly car insurance premium is claimed by direct debit – the owner of the Ford KA.

3.  Modifications

Don’t add things like spoilers and alloy wheels as they will increase the premium.

4.  Security

Try and park the car overnight either in the garage or on the drive rather than on the street to help keep the car insurance premiums lower.

5.  Shop around

Don’t just get quotes from one place for car insurance – shop around. Go on a price comparison website and look at quotes from a number of car insurance providers as well as look at the product particulars for each company to make sure that the cover meets the requirements.

6.  No claims discount

Safe driving, resulting in accidents being avoided, means that a no claims discount starts to accrue that can have a significant impact on keeping car insurance premiums under control.

Hopefully, the above will result in more young people being able to find affordable car insurance.