Young Driver Insurance: Compare quotes on the costiest driving days
Young Driver Car Insurance: Getting started
Heading out on the open road for the first time can be costly, for the simple fact being less experienced behind the wheel means you have a greater chance of having an accident.
All drivers must take out an insurance policy to drive their car on UK roads, so young drivers have to face up to the costs of buying protection for themselves, their vehicle and other road users. However, they can shop around for the best car insurance quotes - and can lower costs in a numnber of ways.
There are different levels of insurance based on how much cover you need for your car. The most basic policy covers damage to third parties. The more sophisticated third party, fire and theft policies and comprehensive cover mean drivers and their cars are insured for losses to their own vehicles.
By going on the roads with your car you are taking a risk and an insurer will calculate how high that risk is based on a number of factors including the age of a car, its engine size and the age of the driver.
If you are a new driver or are under 21 (or in some cases 25) you will be considered a greater risk to an insurance company. Lack of experience and statistics showing young drivers have more accidents and suffer more from thefts and fires mean premiums are universally high for newcomers.
There is good news for young drivers, however.
Firstly, high insurance is a rite of passage and while all newly qualified drivers are slapped with higher premiums the more experience you gain, and the more no claims discount you build up, the quicker you will see your premiums tumble.
Secondly, there are specially-designed insurance policies out there specifically for young drivers which, while still expensive, can provide other benefits which suit your needs, especially if you don't drive at night or have a low mileage.
Finally, if you cannot afford your own policy, there is always the option of being a named driver on your parent's insurance policy. While you will not build up the no-claims bonus it's a good way of saving money whilst getting those all-important first few months of driving experience under your belt.
Reasons to have young driver car insurance
It is a legal requirement to have car insurance – so there's no ducking out of it, even if it's likely to cost more than your entire course of driving lessons.
A number of insurers and insurance brokers offer special deals for young drivers with a year or more experience behind the wheel. So getting a dedicated "young driver" policy can pay dividends.
But even if you find premiums are high wherever you go, remember that by getting your own insurance policy – as opposed to simply being named on the parents' cover – means you are starting to build up your own no-claims bonuses. Provided you drive safely and don't make a claim, you will become easier to insure as the years pass.
How to buy young driver car insurance
Buying insurance as a young driver is exactly the same as for any other motorist. You can go direct to an insurance company – applying online could even save you a bit of money.
Alternatively, visiting a broker who will scour the market for you, will save you time. And there are plenty of comparison websites which list all the best deals on the market. Be wary of these, however, as they do not always cover the entire market.
Essentially, you must shop around and compare as many quotes as possible.
All insurers will look kindly, when calculating premiums, on young drivers who have completed the government-approved Pass Plus scheme. These drivers can often gain savings of as much as 30 per cent. Some insurers offer six-month starter policies which help to build up no-claims bonuses which are often cheaper.
Taking practical steps such as getting good security for your car, making sure it's parked in a garage and buying a vehicle with a small engine and no modifications can also reduce premiums.
Pitfalls
If you are 17 and ripping up the L-plates you will have enough difficulty getting cheap quotes. Buying a performance car or a flash 4x4 will do nothing to ease your budget. The more powerful the car, the higher the premiums will be.
Some of the specialist insurers promising cheaper premiums for young drivers, or young-driver only policies, actually only offer these to over-19s. While still technically "young drivers" this does nothing to help all the 17 and 18-year-olds out there looking for insurance.