Car Insurance for Young Drivers – All You Need to Know

There is no greater feeling than passing your driving test and enjoying the great sense of freedom and independence that you find with driving. However, young motorists have a nasty sting in the tail when it comes to car insurance, which is likely to be very high for a new motorist looking to buy a new vehicle.

Why they Pay More

So, why do young drivers have to shell out more for insurance? This is because evidence shows that this is a more dangerous group with teenagers accounting for 12% of all accidents on the road. Other factors that impact how much your premium will be the car that you drive, the level of cover you want, where you live, occupation, and your excess (the amount you have to pay before the insurer picks up the bill).

These are the different levels of cover:

Third Party – The most basic (and often most affordable) level, Third Party covers liability for injury to others (including passengers), damage to third party property and liability whilst towing.

Third Party, Fire & Theft – Covers the above plus repairs or replacement if your vehicle is stolen or damaged by fire.

Full Comprehensive – The highest level of cover, Fully Comprehensive covers all of the above and damage to your own car even if the accident is your fault. Most car buyers will opt for this level of insurance to ensure maximum coverage. 

Reducing Premiums

Young driver car insurance will always be expensive no matter what level of cover, but there are a few ways that you can reduce your premium. These include choosing a small car with a less powerful engine, keeping the vehicle secure in a garage and with security devices and by reducing usage and mileage. Additionally, you can lower the cost of insurance by adding a second, low-risk driver (a parent, for example). It is important to note that you cannot pretend that they are the main driver as this is illegal and known as “fronting”. Another factor that adds the price up is the area you live in. Living in a high risk, busy urban area can increase the price of your insurance up significantly. Cities like London are notoriously bad for this.

It is vital that you obtain insurance before driving no matter what. Finding affordable cover can take some time and you will want to research online so you could always take out temporary car insurance which can cover you from just one day through to 28 days in most cases.

Insurance for young drivers will always be costly as insurers deem this group as higher risk, but there are always ways that you can bring down your premium so that it is slightly more affordable whilst still providing you with a decent level of cover.