Under 25? Then you are likely to be considered a 'Young Driver' by insurance companies in the UK. This means potentially increased premiums and more difficulty in getting insurance inthe first place. Is there anything you can do?
If you are looking for car insurance for young drivers, you will find that premiums are generally a lot more expensive than they are for more experienced or older drivers. It may seem unfair to group all younger drivers into the same bracket, however increasing numbers of accidents do involve younger motorists, and to this end, insurance companies must charge higher premiums in order to cover themselves against all possible eventualities.
It’s not all bad news though, there are still a number of great car insurance policies available to young drivers – the key is to shop around to find the best deal.
Young drivers may be tempted to go on the roads without insurance due to the large costs involved. However, car insurance is a "must-have" kind of insurance - unlike gadget insurance which you can take or leave as you wish.
Car insurance is a legal requirement in the UK; not only will it protect the driver and any passengers in the insured car, but also any other drivers on the road. To this end, you will need to find a good car insurance policy that adequately covers young drivers for a number of negative scenarios. Many people will find that third-party, fire and theft car insurance is more cost-effective to buy as car insurance for young drivers.
Third party, fire and theft insurance covers the policy holder against any liabilities to third parties (i.e. other drivers and vehicles involved in the same accident). It also covers the driver in the event of the insured vehicle being stolen or destroyed by fire, either by malicious intent or due to a problem with the vehicle.
However, third party, fire and theft insurance will not usually cover the vehicle against other risks, such as damage caused to the vehicle by the driver or vandalism. This kind of insurance can be good for young drivers as it is usually fairly cost-effective and meets all of the basic car insurance requirements.
Another, more expensive option, is fully comprehensive insurance. Fully comprehensive insurance covers the policy holder against all of the scenarios listed above as well as covering any damage caused to the vehicle by the driver. With comprehensive insurance policies, you can also expect to be covered against vandalism and a wide range of other risks, however, this kind of insurance is generally very expensive therefore may be out of the budget range for the majority of young drivers.
If a young driver intends to use someone else’s car on an occasional basis, it is possible to add them onto another policy. However, by adding drivers that are under the age of 25 onto a policy, the premium/payment is likely to increase substantially, and it is only an option if the young person is not the main driver of the vehicle. Therefore, if you are considering adding a young driver onto your car insurance policy, it’s best to check the likely premium increase rate first, as it may not be the most cost-effective method.
In order for young drivers to keep their future premiums down, there are a number of measures that can be taken.
For example; the kind of car that a younger driver owns will largely dictate their car insurance premium. It is therefore wise to purchase a cheaper/smaller car as a ‘first car’, with a smaller engine, and avoid making modifications or customisations to a vehicle.
Additionally, by keeping a car parked in a secure location (i.e. a driveway or garage), premiums can be reduced even further.
Adding a "black box" or telemetry box to your car is the latest way for careful drivers to slash their insurance costs. However, this box "watches" everything you do - so no speeding or late night driving allowed.
Car insurance companies will review many aspects in addition to the age of the driver when they are calculating premiums, so even small changes can help to lower future car insurance payments.