If you are a young driver who has just passed their driving test, then this is an exciting time! You will no doubt be ready to hit the road and experience the freedom that driving a car can bring. The ability to go where you want, when you want, is great and certainly better than standing in the rain for a bus.
One thing to think about before you get your first car though is the insurance. As everyone knows, young drivers can be hit with a large insurance premium that takes into account their inexperience and increased chances of having an accident. But what can you do to bring your insurance costs down and save some cash?
One of the best tips for finding low-cost young driver insurance is to take out a black box insurance package Also known as Telematics, this involves a box being installed in your car that monitors speed, location and direction when driving. This then allows your insurance provider to see if you are driving safely and reward you for doing so with cheaper premiums. It also allows them to work out who was at fault if you do crash!
Car insuranceis divided into many different groups. All cars on the road fall into one of these numbered groups for insurance purposes and this goes a long way to setting the premium you will pay. Try to choose a car from groups 1 to 5 as these will be the cheapest.
For many a young driver, the real thrill with getting their own car is in being able to modify it. Pretty soon, there are new exhausts and alloys amongst other customisations. While this is tempting, it will actually make your insurance premium more expensive so is best avoided.
One great old trick that still works in reducing your insurance costs is to add on an experienced named driver to your policy with a clean driving record. This will persuade the insurance companies to lower your costs a little as a result. Just don’t put them as the main policyholder with you as the named driver, as although this is even cheaper, it is highly illegal!