There’s no getting around the fact that insurance for young drivers is more expensive. This is nothing new but the difference between young and experienced drivers has become greater and greater over the years so it’s important that you do what you can to drive down the cost of your insurance.
1: Get PassPlussed
PassPlus is a series of extra lessons given by a driving instructor after you’ve passed your test. These lessons will teach you how to cope with bad weather, countryside and night driving, driving on dual carriageways and motorways. Not only will these lessons make you a safer driver but you’ll also get a discount on your insurance once you’ve passed the course. Find out more at the DSA’s PassPlus web page.
2: Choose the right car
Actually, it’s not the car itself that’s the problem. The issue is that insurance companies know that the sorts of drivers who want certain cars (eg “boy racer” hatchbacks) are more likely to have accidents. In general, the lower the engine size and the smaller the car, the lower your insurance premiums are likely to be.
Insurers place car models into 20 groups with group 1 cars being the cheapest to insure. So, before you buy a car, check which group it’s in.
For example, these are all in Group 1, 2 or 3:
- Ford Fiesta
- Vauxhall Corsa
- Peugeot 206
- Renault Clio
- Fiat Punto
Important: with all these cars, only certain models will be in 1,2 or 3. It will depend on engine size, specification and the insurance history of those models. A basic Corsa with a 1 litre engine, for example, might well be in group 1 or 2 but the “sport” version with 1.6 engine could easily be in group 6.
3: Have a high Excess
Excess is the amount that you have to pay out of a claim. For example, let’s say you prang someone else’s car and the damage is assessed at £1,000. If you have an excess of £400 then you would pay that much and your insurer would pay the remainder. The higher the excess, the lower the premium although there’s obviously a risk involved.
4: Pay As You Go
Obviously, you should get plenty of quotes for insurance but you should also consider “Pay As You Go” insurance. In most cases, this means that a small device is fitted to your car and you only pay per mile. The amount you pay depends on your circumstances and also varies according to the time of the day that you drive. For example, driving at 11pm might cost several times as much as driving at 11am because the insurers know that more accidents involving young people happen at night.
For example, take a look at i-kube.
