Driving insurance for young people

First the bad bit: driving insurance rates for young people are always high. A combination of factors including, not least of all, the fact that they are have a perceived high risk explains the high rates. You need to understand what these factors influencing your rates are and how you can make them work for you, thus bringing your cost of car insurance down.

The first and most important is choice of car. Young drivers love fancy things and sports car are one of them. However, this is the wrong time to purchase such cars. If you can only hold that desire to drive a fast car for five more years, you can save as much as several thousand pounds a year in insurance charges. Fast cars have a very high likelihood of crashing, owing to their powerful engines and high maximum speeds; and it is all the more tempting for young drivers to push vehicles to their limits when such power is in their hands. So not only do you risk being pulled over for speeding; you risk wrecking your car, (and possibly yourself plus innocent third parties) in an accident.

The best cars for young drivers are saloons and small, light vans. Any car in the lower safety group rankings is good for you. These cars are less powerful, easy to control and safer on the road. Insurance companies give lower quotes for them than their faster counterparts.

Choose to buy your insurance policy from an insurance company that specializes in young drivers’ insurance. Specialist insurers understand the needs of young drivers more and therefore, customize policies to meet these needs. They often also give better rates than other providers. This is not to say that you should rule out getting insurance from any other provider. There could be a general insurance company out there, which has lower rates than any specialist company you’ve come across.

The only way to find out is by comparing quotes. Get quotes from both general providers and specialists in young drivers’ insurance. Since getting quotes from each insurance company can be tedious, use the services of a comparison site. They do the hard work that is collecting quotes, and present them to you for comparison. Check the kind of discounts available in each quote. The more discounts a provider can give you, the lower your car insurance rates will drop. Most insurance companies give discounts when a young driver has undertaken a defensive driving course or accepts a higher policy excess, and some are more generous to those who list a more experienced driver, who could be a parent or older sibling as the secondary driver. Note the term 'secondary; listing a more experienced person as the primary driver, when in fact the young person drives the car the most, is called 'fronting' and is illegal; insurance companies are very aware of this practice and make a point of looking out for it.

Another way to spend less on young drivers’ insurance could be by choosing short term car insurance as opposed to long term car insurance. If you will be in school most of the time, you could choose from 1 to 28 day insurance, which you buy only when you need to use the car. Do be certain, though, that whilst the car is off the road you make a SORN declaration; failing to do this has very heavy penalties.

Copyright David Bloore 2011