Insuring your car when you are a young driver can prove rather expensive, as insurance companies tend to categorise drivers. This is fine when you have been driving for years and fall into a section of the population which can enjoy further discounts, like the over fifties. However, it is generally accepted that the lack of experience tends to lead to more claims, which is reflected in the higher cost of young drivers car insurance.
Fortunately, a number of insurance companies in the market place who are willing to reward young safe drivers with a series of incentives, which could help reduce the cost of their premiums. The most time saving and cost efficient way of locating the best of these policies could be to use a specialist broker who has access to market place and can search for young driver car insurance, on your behalf. Brokers are independent and are often able to obtain a further discounted price from an insurer than if you approached the provider yourself.
However, other than the broker’s ability to find you a reasonably priced policy, there are a number of things you can do yourself to help reduce the price of the premiums. By obtaining, a Pass Plus Certificate can reduce your premium by as much as 35%. So what is it? Quite simply a course backed by the Government’s Driving Standards Agency, which gives young drivers additional driving experience that they may not have gained prior to passing their driving test. There is no test as the certificate is only issued when it is deemed that the driver has gained sufficient experience in the various modules covered. Certain insurers will issue a refund if you pass this after taking out a car insurance policy with them.
The fitting of a recognised security alarm and or an immobiliser will assist in reducing your premium. These days security systems are quite inexpensive and their cost can be offset by the savings, which could be made in your premium.
Always be honest about your vehicle. Declare all modifications because if you do not, this can invalidate your insurance. You must quote its true value, as an insurer will only pay the current market value of your vehicle upon a claim. This may be particularly important if you have Third party, fire and theft rather than just a Third party policy.
The level of the excess amount that you are willing to pay in the event of an accident will greatly influence the price of your policy, the higher the excess the lower the premium. Adding a parent as a driver on your policy could also help reduce the cost further.
Certain insurance providers have a rapid bonus scheme on their young driver car insurance. This rewards the safe young driver by quickly allowing them to build their No Claims Discount by using periods of nine instead of twelve months. Each period accrued can be used to reduce the next year’s premium. However, a number of insurers insist that you stay with them whilst using this scheme and not all insurers recognise the scheme. This is also when a broker could prove very useful when searching through the various offers to find you the best young driver car insurance deal.