Insurance for Young Drivers
Shattered by the cost of insurance for young drivers?
Don’t worry - all is not lost.
Ok - so you’ve just passed your driving test and you’re raring to go. You dash out to buy a car, find the one you’ve been dreaming about since you were ten - then reality hits home with a bang! Your insurance company have told you it will cost more to insure the car than
the car costs you to buy!
Motoring message boards are crammed with young drivers desperately trying to find ways
to get insurance.
Here’s a little advice which may help:
- First of all, do your research - reading this page is a good start! Obtain quotes from as many different companies as possible - the internet comparison sites are very useful for this. Try http://www.confused.com, http://www.moneysupermarket.com, and http://www.GoCompare.com. You can also try individual companies online, some of whom cannot be found on the comparison sites - try http://www.directline.com/Car-Insurance, http://www.elephant.co.uk and http://www.admiral.com.
- There are a few companies who actually specialise in insurance for young drivers. One such company is YoungMarmalade. They offer realistic insurance policies to young drivers by linking the policy to the sale of a suitable new, or nearly new, car. So you kill two birds with one stone - nice new safe car, affordable insurance. Very clever and worth considering - even if you thought you could only afford an old second hand car.
- You can reduce your premium by restricting the level of cover. For example, limit the number of people who can drive the car.
- Consider increasing the amount you would pay as the first part of any claim - this is called the “excess”. The higher the excess, the lower your premium. Just bear in mind, though, that if you have an accident you may find yourself with a sizable bill so, if you have a large excess, try to keep that amount saved in a savings account just incase one day you need it.
- Take the Pass Plus. To find out more about the Pass Plus course, click here. Several insurers will give discounts to young drivers with a Pass Plus certificate - ask when you get a quote.
- If you don’t use the car very often, investigate limited mileage policies.
