An increase in car insurance premiums is something that will have affected most people but there is one group that seems to be hit harder than most... young drivers.
This is because insurance companies see the young driver car insurance market as a high risk demographic and so raise the prices of their premiums accordingly.
With this in mind it is essential to shop around and find as many prices as possible to secure an affordable young driver insurance policy - with our free comparison service you can view prices from over 100 companies in just a few minutes.
Why young drivers are a high risk group
Unfortunately, it is a fact that young drivers account for a disproportionate amount of accidents on UK roads and this is one of the main reasons why insurance companies consider younger drivers to be a higher risk.
Statistics show that one in five drivers are involved in a crash during their first 12 months behind the wheel and that road users are more likely to be involved in a traffic accident during the first two years after passing their test.
It is also the case that drivers aged between 17 and 25 are responsible for one third of road fatalities in the UK and that young drivers are more likely to be the victim of theft, fire and vandalism that result in insurance claims.
How to get cheaper young driver insurance
The average price of a car insurance policy for drivers aged between 17 and 21 now stands at over £2,000 but, in spite of this, there are several ways that young drivers can lower the cost of their car insurance.
After passing your driving test it can be a good idea take a Pass Plus course as this can earn you a discount of up to 35 per cent with some insurers. There is no test at the end of the course and you will be issued with a certificate from the Driving Standards Authority (DSA) once your instructor is happy that are competent in areas such as driving at night, on motorways and in town traffic. The Pass Plus certificate can only be issued with one year of passing your driving test.
Insurance premiums are massively affected by the type of car that you drive so try to stick to small engine cars from low insurance groups and avoid any modifications.
Although it will undoubtedly be cheaper in the short term to be added to a parent's insurance policy it is better to take out your own policy and start building up a no claims discount as this will lead to even greater savings in the future.
Furthermore, if you are the main driver or registered keeper of a car, it is imperative that you DO NOT insure the car in your parents' name and add yourself to the policy as a named driver. This is a form of insurance fraud known as 'fronting' which will invalidate your policy and could lead to you being charged with driving without insurance, an offence that carries a minimum punishment of six penalty points and a £200 fine.
This is because insurance companies see the young driver car insurance market as a high risk demographic and so raise the prices of their premiums accordingly.
With this in mind it is essential to shop around and find as many prices as possible to secure an affordable young driver insurance policy - with our free comparison service you can view prices from over 100 companies in just a few minutes.
Why young drivers are a high risk group
Unfortunately, it is a fact that young drivers account for a disproportionate amount of accidents on UK roads and this is one of the main reasons why insurance companies consider younger drivers to be a higher risk.
Statistics show that one in five drivers are involved in a crash during their first 12 months behind the wheel and that road users are more likely to be involved in a traffic accident during the first two years after passing their test.
It is also the case that drivers aged between 17 and 25 are responsible for one third of road fatalities in the UK and that young drivers are more likely to be the victim of theft, fire and vandalism that result in insurance claims.
How to get cheaper young driver insurance
The average price of a car insurance policy for drivers aged between 17 and 21 now stands at over £2,000 but, in spite of this, there are several ways that young drivers can lower the cost of their car insurance.
After passing your driving test it can be a good idea take a Pass Plus course as this can earn you a discount of up to 35 per cent with some insurers. There is no test at the end of the course and you will be issued with a certificate from the Driving Standards Authority (DSA) once your instructor is happy that are competent in areas such as driving at night, on motorways and in town traffic. The Pass Plus certificate can only be issued with one year of passing your driving test.
Insurance premiums are massively affected by the type of car that you drive so try to stick to small engine cars from low insurance groups and avoid any modifications.
Although it will undoubtedly be cheaper in the short term to be added to a parent's insurance policy it is better to take out your own policy and start building up a no claims discount as this will lead to even greater savings in the future.
Furthermore, if you are the main driver or registered keeper of a car, it is imperative that you DO NOT insure the car in your parents' name and add yourself to the policy as a named driver. This is a form of insurance fraud known as 'fronting' which will invalidate your policy and could lead to you being charged with driving without insurance, an offence that carries a minimum punishment of six penalty points and a £200 fine.
No comments:
Post a Comment