It is no secret that a young motorist is going to have to pay a high premium for their car insurance. This should not come as a surprise as a newly qualified driver that is 18 years of age has very little experience behind the wheel of a car and some have a reputation for driving less carefully than many mature adults.
Apparently, the price comparison website Gocompare carried out a survey of 2,000 parents and it was found that the average cost of fully comprehensive car insurance for a 17 year old is around £2,232 per annum. We are sure that you will agree that this is a significant figure that many youngsters would probably struggle to fund themselves. In fact, Gocompare found that about 30% of parents helped their children pay the premium.
In some cases, the cost of insuring a car for a young, inexperienced motorist is likely to be greater than the actual price they paid for the vehicle.
So, what are some of the things a newly qualified young driver can do to get cheaper car insurance?
Well, the make and model of the car they buy can have a bearing on the premium. For instance, much as many a young driver would love to be driving around in a BMW 2 series convertible costing almost £30,000 it would no doubt prove rather costly to insure. They may be better looking at a second hand 3-door hatchback costing £5,000 with a lower capacity engine size.
If you are prepared to make a greater contribution towards the cost of any repairs to the vehicle following an accident by way of paying a larger voluntary excess then this is likely to result in a reduction in the premium.
The number of miles that is driven each year is often a factor in the premium. So, if the student motorist only potters around in the car when they return home from university during the holiday period doing say 3,000 miles per annum the premium is probably going to be lower than if they drove 25,000 miles a year in the car.
Parking the car overnight in a garage and having security devices fitted could lower the premium. Also, having a more experienced person named as an additional driver on the policy may lower the premium.
It could be worth shopping around by using a price comparison website to try to get cheaper car insurance as some insurance companies may offer more advantageous premiums to young drivers.
We hope that the above has been of assistance.