Tips For Young Drivers To Keep Premiums Down

Tips For Young Drivers To Keep Premiums Down

by David Redmond on 17 Jan, 2012

It is well known that younger drivers, especially those that are male, attract higher insurance premiums than other drivers.

With some policies costing more than the car itself, the situation can seem bleak; however there are a number of ways young drivers can get cheap car insurance quotes.

As you might expect, the first thing to think about is exactly which model of car a new motorist chooses. The British Insurance Brokers’ Association (BIBA) says that this is important, and advises young motorists to acquire a smaller model as the cheaper the car, the cheaper the insurance quote.

When choosing a car, looking for one with a good security system, such as an alarm and immobiliser, can also reduce your insurance quote. Alternatively, any car can be fitted with an alarm personally.

If you modify your car in any way it is likely to increase your insurance premium as the addition of more expensive items, such as new wheels or neon under-lighting, will make your vehicle more desirable to thieves. Examples of kit people can purchase to improve the performance or aesthetics of a model include sports exhausts, wraps, spoilers and valve springs. All of these additions to a car can also create a large addition to an individual’s insurance quote.

One way to ensure a cheaper car insurance quote would be to take a Pass Plus course. As well as providing you with extra driving experience, a full Pass Plus certificate can enable you to gain up to 30% off your insurance quote.

The amount of mileage you do is another factor in determining the cost of insurance. The more often you drive, the more likely it is that you will be involved in a crash. When possible, walking and cycling are simple ways of making short journeys. It is very important that drivers are honest about the amount they drive when purchasing insurance as if an accident occurs and it is found out that they were not being honest, it can become difficult to make a legitimate claim.

With this in mind, using your car for work, then you are likely to be using it every day. Using public transport and stating to your insurance company that you will only be using your car for social purposes can legitimately lower you insurance quote.

It may seem obvious but keeping your driving licence clean is another great way to ensure low cost insurance. Any driving offence can impact your premiums and will likely give you a larger quote when looking for insurance.

Another way of keeping insurance premiums down is to keep the car that is intended to be insured in a garage overnight. If a young driver has access to a garage then this is an easy way to keep costs down as insurance companies will see this as the car being kept safe from thieves when unattended.

The addition of an older or more experienced driver to an insurance policy can also keep the insurance costs down.

With all of these tips, young drivers can keep insurance premiums down and enjoy driving.

About the Author

David Redmond


David Redmond is a Partner of Don Gilliard Finance Group. He is a fee-only, independent financial advisor and financial planner. For over 15 years, he has been helping individual investors and their families realize their investment goals.