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Car Insurance-Young
drivers
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For young drivers, obtaining car
insurance has often been a frustrating experience
due to the sky-high premiums. It is a fact
that younger drivers generally make more claims than their older
counterparts, in part due to their lack of experience, and as such many insurance
companies seem to price them out of the market.
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However, more and
more insurance companies are attempting to offer advantages to
young, safe drivers.
For example, some UK motor insurance companies have introduced a
rapid bonus scheme, which runs for nine months rather than twelve, so
the year's no claims bonus is obtained more quickly and the next year's
premium reduces more quickly as a result.
Other companies offer young
driver insurance, which will provide flexible
payment options and cover for provisional licence
holders.
The Pass Plus scheme
is also a great way for young drivers to save cash
over the long term. Pass Plus is a certificate option
that follows a passed driving test giving the young
driver specific lessons in night, motorway and town
traffic driving that could be avoided in regular
driving lessons. Achieving the Pass Plus can earn
massive discounts (as much as 35%) on your car
insurance.
Another suggestion for
a young driver would be to add a parent to their
policy as a named driver. An older, more experienced
driver can cut costs. The reverse is true for parents
looking to add teenagers to their policy. However, if
it is unavoidable a way of reducing the cost is to
minimize their insurance to a set period of
time - for example during the holidays.
Let’s not beat
around the bush, young driver car insurance is
not going to be cheap. It may seem unfair when
you’ve just passed your test and saved up to buy
your first car, but car insurance prices are
set according to risk, and statistics show that
younger drivers are more likely to have an accident
than older, more experienced drivers.
Young
driver car insurance
considered a high risk
not just because of the driver’s age, but because
they are new to driving and have little on-the-road
experience.
Statistics show that
young drivers in the UK have more accidents than older
drivers, and that you are more likely to have an
accident in the first two years of passing your test
than at any other time. Higher instances of theft,
fire and vandalism also contribute to the high risk
level associated with young driver car insurance.
To manage the cost of young
driver car insurance, choose a car with a smaller
engine and look for online discounts. But beware of
the temptation to insure your car in your parents’
names and drive as a named driver; if you ever needed
to make a claim your policy could be invalid.
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