Strategies to reduce the
cost of young drivers insurance cover
To
get cheap young drivers insurance is not easy given the high insurance
risk associated with younger people and the consequent higher premium.
But, there are several things you can do to reduce the cost of your
cover. Of these the two most important are your choice of car and how
you go about obtaining your cover. We'll also outline here several
other important strategies.
Obviously, the more modest the car, the cheaper it is to insure. The
young driver without a full no claims bonus will save thousands over
their early driving years by buying one such car. A car insurance group
under 10 (reference range 1-50 of the Thatchem rating system) is
advisable. Thus a Corsa, Polo or Clio are good choices while a Golf GTI
is not.
And, once you own a car, leave it as it is. Customisation - for
instance putting on alloy wheels - increases the premium. The only
advisable modifications are security enhancements. Any suitable
Thatchem-approved device that's compatible with your car is likely to
help.
You can also try to improve your overnight parked security which,
ideally, would be with your car parked in a garage, but any off-road
arrangement, especially behind a locked gate, is useful.
Adding an over-25 as a second driver can help, but you should not state
that an older person is the primary driver if they are not; as
insurance companies, if they spot this, will not pay out if you're
involved in an accident.
If you are willing to pay a bit more yourself in an accident, you
may wish to increase your voluntary excess. Many young people choose,
reasonably, to be highly pragmatic in their choice of cover. No frills
policies, better avoided by older drivers, can be a good choice for
younger drivers as, more inclusive cove does become very costly.
Other strategies include capping your annual mileage, if possible, or
even reducing your own risk my training for and passing an advanced
driving test.
The specialist broker, Endsleigh, provides cheap car insurance for
young drivers and they are therefore a good resource to check out.
Clearly, the more prices that you can compare, the better, and, of
course, the best way to do this is to deploy a price comparison
site. To compare
car
insurance in this way or
check out
Endsleigh, this site (link) is a good service to use.
While a pragmatic policy choice makes sense, it remins wise to check
over the cover before purchase. The cheapest-priced quote of thousands
as found on a price comparison site, even for young drivers, is usually
better avoided. More..
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