Car Insurance for Young Drivers

Young drivers often feel as if they are getting priced out of the car cover market. Recently a survey conducted by Max Power revealed that young people are struggling to pay their premiums. Car insurance for young drivers can help to reduce premiums and put drivers under 25 on the right track to lowering their insurance.

According to Max Power editor John Sootheran, “Typically young drivers can pay anything from £800 to £2000 a year for motor insurance and even more if they have a modified car.” Young drivers have to shop around for the best rates and take advantage of ways to save on car cover.

Age Makes a Difference

Young drivers who are 17 will have to pay the highest rates because of their inexperience, as will learner drivers. Drivers under 25 also pay higher rates. After the age of 50, car cover rates go down because drivers are more experienced and file less claims.

Basic Car Insurance

No matter where you go for car insurance, there are three basic types – third party, third party fire and theft and fully comprehensive. Third party covers only the injuries and damages suffered by third parties in a car accident and is the minimum coverage required by UK law. With fire and theft added, the policy also covers theft of your car or if your car is set on fire Fully comprehensive coverage covers everyone in a car accident up to the limits of your policy and is necessary if you are financing a car.

Voluntary Excess

Voluntary excess is the first part of a car accident claim you agree to pay. By agreeing to a higher amount to pay, you can decrease your car cover premiums.

What You Drive

Cars with modifications will cost a lot more to insure as will high performance cars. Choosing a smaller economy car costs less to insure. Adding security devices such as an alarm, immobilizer or tracker deters theft and lowers insurance rates. Further, the more miles you drive, the more you will pay for car insurance.

By making a few wise decisions and shopping around, young drivers can find an affordable insurance policy to suit their needs.