Previously we have looked at what to consider when buying a second-hand car and some of the factors that affect insurance premiums. Now we are thinking solely about young drivers – the ones who can expect their annual insurance premium to exceed £1,000. Don’t let the cost of insurance get you down – here is how you can save money.
Slow Down
Don’t be in such a rush! Driving slowly means you are less likely to be involved in an accident. No accidents can lead to a no claims bonus, which will instantly see your premiums reduce. What’s more, driving within the speed limit will prevent you from getting speeding points and guess what? People with no points on their licence tend to pay less insurance.
Choose Wisely
You may want a flash car, but fast cars tend to mean high insurance premiums. There are 50 insurance groups; group 50 includes the Jaguar F-Type convertible and the BMW 6 Series Gran Coupe, while group 1 is home to the Volkswagen up! and Hyundai i10. Generally, the lower the insurance group, the lower your premium will be.
No Mods
You may be itching to modify your new wheels, but tints and spoilers tell your insurer that you are at greater risk of being involved in a collision, so will instantly lead to a higher premium.
Do the Maths
All insurers vary in the questions that they ask. What is cheaper for one person may not be the best value for money for another. So, shop around for the best deals.
Get the App
Some insurance companies offer apps which monitor your driving. These encourage you to drive more carefully and, after a set period, your insurance premium will be recalculated according to how safe your driving is. Assuming you trust yourself to dive safely, the app can help to keep your speed down, as well as your insurance bill.
Become an Advanced Driver
Driving instructors offer advanced driving lessons that equip you for a range of different situations, including motorway driving. These aren’t a legal requirement, but passing your advanced test will give you more confidence on the road and reduce your monthly insurance payment.
Staying safe while driving is about much more than reducing your insurance premium, it is about keeping you, your passengers, and other road users safe.
If you have just passed your test and are nervous about driving alone, contact a local driving instructor who will advise you on advanced driving lessons.