Young person’s car insurance

So: you’ve passed your theory, passed the practical, and your parents have got the shiny car you received for your 18th birthday in the driveway. However, there’s one final obstacle that you need to encounter before it will be possible for you to enjoy the freedom and independence of driving: young person’s car insurance.

If you and your parents have decided that your own car is a better option owing to circumstances within the family (such as your mother and father have to use their own vehicles to get to work), then shopping around for good young person’s car insurance is vital. As you won’t be sharing your policy with a responsible adult, it does mean that the premiums will be higher in comparison. It isn’t all doom and gloom though: you will be able to build your own no claims discount instead, a concept that allows you get discounts over time for being a conscientious driver who doesn’t make claims due to their exceptional motoring ability.

There are things that you can do to drive down the cost of young person’s car insurance, and typically, it’s the decisions that you make as a new motorist that result in you paying impossibly-high premiums. So: here’s a checklist of the choices you should make in order to put more money in your pocket for petrol and having a good time as a student.

• Choose a modest city car or a low-performing engine instead of a vehicle that has been modified to a high specification – insurers see this as more of a liability to repair or replace, and it can also elevate the risk of you having an accident. However, by this, you should also be careful not to go for an old banger that is constantly breaking down and failing its MOT, as this will cost you more in insurance than it’s worth!
• If you’re going to go with young person’s car insurance with a large excess, evaluate whether this is financially viable for you. Insurers generally tend to offer the concept of excess as it reduces the liability they face when you need to claim. For example, if your excess is £500, it means you will have to pay this amount before the insurer contributes the rest – no matter how big your claim is. Although this will reduce the monthly payments you make for your premium, don’t forget that it could leave your car out of action for a while as you work overtime or save money to stump up the excess to your insurance provider.
• Opt for a policy that stipulates you can’t drive after 23:00 at night. According to insurance statistics, most accidents involving drivers under the age of 25 occur in the middle of the night. Because of this, many young persons’ insurance policies reward you with discounts if you only drive during the daytime and up to a 23:00 curfew. Of course, this won’t suit everyone, but it certainly will be food for thought.