GETTING your first car after successfully passing your driving test is one of the most exciting times of a young person’s life.
Most people behind the wheel will remember the thrilling feeling they had when they jumped into their own car for the first time.
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But it can be costly for new drivers to get themselves on the road.
Not only is a new motor itself expensive, but mounting bills like vehicle tax, fuel and ongoing maintenance can quickly add up.
Not to mention that car insurance for new drivers, especially those aged between 17 and 25, can be particularly expensive.
And this can make that exciting feeling quickly turn into one of confusion and overwhelming.
Luckily, motor experts have revealed that there are some sneaky tricks that can slash the price of a new driver’s car insurance.
We all know it’s important to shop around and explore all the options before choosing a policy to go for.
But the car insurance pros at Beck Evans have shared six other ways that young drivers can save money on their policies.
And it’s not just about choosing to pay the policy upfront rather than in monthly instalments, which we all know makes things a little cheaper in the long run.
The first thing that young drivers should consider comes before they even choose their first car.
Opting for a motor that has a smaller engine can reduce the cost of insurance premiums for young drivers.
The experts explain: “A smaller engine is less likely to be involved in high-speed accidents as they are less powerful.”
Another thing new drivers can do is complete a Pass Plus course, which is an extra practical training course in Scotland.
It is designed to help new drivers improve their skills and their confidence after they’ve passed their driving test.
Professionals at Beck Evans say: “This course can make you safer on the roads, making you less likely to be involved in an accident and therefore deem you less of a risk.”
Something else that young drivers can do to show their commitment to driving safely is get insured on a black box policy.
Explaining how this works, the experts say: “Black boxes allow the insurer to monitor the speed and behaviours of how you drive, proving how safely you drive, meaning cheaper premiums.”
Anyone who has an experienced driver in their family or friends can also add them to their policy to lower their insurance premiums.
This is because insurers assess risk based on their previous experience, and anyone with a good record could indicate that the car is being used by a responsible driver.
This, in turn, can potentially reduce the overall risk and cost, which means that their insurance may be a little cheaper.
Beck Evans experts say: “Adding experienced drivers, such as parents, relatives or older friends, onto your insurance can, in some cases, help to reduce the price.
“Make sure, though, that this added driver does not, at any point, pretend to be the vehicle’s main driver, as this is illegal.”
Another option that can bring down insurance costs is opting to pay a higher voluntary excess.
What does car insurance cost for first-time drivers?
EXPERTSat Beck Evans have explained how insurance companies create a price for first-time drivers. They said:
Several factors impact how much you’ll pay for coverage:
- Age
- Make and model of the car
- Location where the vehicle is kept
- Intended use (e.g., commuting to work)
- Driving history (accidents or penalty points)
- Vehicle security and theft risk
While people of all ages can become new drivers, younger individuals often face higher premiums, averaging around £1,800 per year due to their limited driving experience, which insurers associate with higher risk.
Young drivers are charged more to insure a car due to a lack of experience, meaning they are deemed high-risk.
However, the experts warn that this could make things more expensive if a claim is submitted.
They said: “Paying a higher voluntary excess fee on top of your required excess can help reduce the price.
“It can cause you to pay more in some cases, though, if you need to make a claim.”
And lastly, it can be tempting to check all the add-on boxes when looking for insurance to make sure we’re completely covered.
But experts say that this might make our policies more expensive.
They urge all new drivers to have a look around before choosing add-ons like breakdown cover, personal accident cover, zero depreciation cover, or home emergency cover.
Read more on the Scottish Sun
The insurance pros said: “Shop around for coverage!
“You don’t have to add on things like breakdown cover from one insurer; shop around until you find the best deal.”
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Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.