Young Driver Insurance
Guide to Young Drivers Insurance.
Young drivers’ insurance can often seem like a bad deal. Not only are young drivers seen as a higher risk and are therefore offered higher premiums, drivers who have only recently passed their test also don’t have the benefit of a no claims bonus.
Insurance companies normally base young driver insurance premiums on a series of statistics. They will take the information you give them and compare you to other drivers of a similar age and gender – if these drivers have made lots of claims on their insurance, you will represent a high risk. With no other reliable information to go on, companies have to make assumptions based on measurable things like your age and how powerful your car is.
Only when you’ve proved that you’re a responsible driver will your premiums start to come down.
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Save money on young driver insurance
The most tempting way to save money on young driver insurance is to share a parent’s car and pay to be the second driver. Unfortunately, this means you don’t get the freedom and independence of your own car and only a few insurance companies will allow you to build up your own no claims bonus this way, so it’s not for everyone.
If you buy a car and get your mum or dad to take out insurance in their name, your policy will be void as your parent would have to say that they are the main driver, which in most cases would be untrue.
You can bring down the cost of young driver insurance in the following ways:
- Do a Pass Plus course. The proven advanced driving ability will convince insurance companies that you’re unlikely to make a claim.
- Offer to pay a higher voluntary excess in the event of a claim.
- If you don’t already have one, fit an immobiliser or alarm in your car.
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