Cost of motoring still rising for young drivers
The cost of motoring is continuing to rise for young drivers – with estimates that insurance alone for a new driver costs on average £2,232 per year.
With an average of £3,825 spent on a first car, it takes the initial outlay to get on the road for a 17-year-old to almost £7,000.
It’s a lot of money, but there are ways to keep costs down, especially if you’re prepared to commit to driving safely, carefully and within the speed limits.
Here are We Buy Cars for More’s hints to secure lower insurance premiums and reduce the cost of those early years behind the wheel.
Choose a car wisely
Insurance premiums will be lower if you drive a standard car with a small engine (under 1000cc) until you’ve built up some no claims bonus and have shown a safe driving record. Avoid cars with modifications, as they can push the price of insurance up. Remember to check our stocklist as we have a number of ideal first-time-driver cars for sale.
Consider a higher excess
This may lower your premium but you will need to decide if paying a slightly lower premium is worth the risk of having to contribute more towards the cost of a claim if you have to make one.
Consider a ‘telematics’ policy
If you’re happy for your driving to be monitored a telematics policy, where either a GPS-enabled transmitter is fitted to your car, or monitored through the use of a smart phone app, can give you a lower premium. If you prove to be a safe driver your premiums may fall more quickly than with a traditional policy.
But remember if your insurer decides your driving poses risks, they could push up your premiums instead.
Use a dashcam
Some insurers apply a discount of up to 12.5pc for drivers who use a dashcam. You must have it in the car and recording at all times and if you are involved in an incident you will be expected to produce supporting footage.
Consider whether you really need added extras such as a courtesy car, legal assistance, breakdown cover and key cover. Some policies include these types of cover as standard or as add-ons but they’re not free – the cost will be built into the premium so you may be able to save money by dropping them.
Adding a safe driver
Adding another named driver with a clean licence and several years claim free driving to young driver’s policy could reduce their premium. This is one way a parent can help their child to get lower premiums without breaking the law.
By being careful on the road you will avoid accidents, fines and penalty points, all of which will affect your insurance premium.Back to Blog