Advice for Cheaper Car Insurance
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Here at MyFirstCar we are often asked advice on where and how you can get cheaper car insurance for young drivers. So here are a few pointers which may be useful. Please feedback to us whether you found it useful.
The bad news first, is there is no such thing as cheap insurance for young drivers. Once you come to terms with this then all else is a bonus. The objective should be what is the very best you can do.
The most important advice is to spend some time comparing various insurance companies. The best way is an insurance comparison website. You should try a few as they won’t all have the same insurers on their lists. Sites such as comparethemarket, confused.com and moneysupermarket, to name but a few.
When making your comparisons, don’t forget to get quotes from companies who do not appear on comparison sites. Companies include Direct Line, Admiral and Aviva.
Choose the right car
Cars are grouped 1 to 21. As a rule, boys should be looking at insurance group 1 or 2 and girls 1 to 3. So when you are choosing your car, you should ask what group it falls into. All cars stocked at MyFirstCar will fall into a low insurance category.
Can I be added to my parent’s policy?
In the past many people would add their young drivers to their policy and enjoy a much lower insurance premium. Times have changed and insurers are wise to this. They will normally price to biggest risk which will be the youngest.
If you were to add a young driver and then they were to have an accident on the way to work or college, then they are obviously the main driver and you may have a problem making a claim. You can however add parents to their policy and this can often save money.
Young Driver Specialist
Only Young Drivers is a relatively new car insurance broker with a new, fresh and vibrant approach specialising in providing young driver insurance for 17 to 25 year olds. Only Young Drivers offers some of the most competitive quotes in the car insurance market for young drivers. Even more, the company’s premiums are backed up by some of the biggest car insurance providers in the UK (Aviva, Ageas, Provident, etc).
What differentiates Only Young Drivers from other insurers is the fact they believe not all young drivers should be tarred with the same brush. By using a unique telephone risk assessment Only Young Drivers give young drivers a motor quote based on their own merits. Therefore, if you are a careful, responsible driver with a good track record, Only Young Drivers will be able to offer you considerable discounts on young drivers insurance.
Black Box Insurance
How iKube Works
We know that young drivers are statistically more at risk of being involved in an accident between 11pm and 5am. It’s also a well known fact that young drivers pay a lot more for their car insurance than any other age group. By incentivising young drivers from not being on the road during high risk hours, iKube can offer you a discount on your young drivers car insurance.
So, for example:
- We calculate the premium our insurer would charge customers directly, just like any other insurance company - i.e. your age, car, postcode, driving experience etc
- By agreeing not to drive during the hours of 11pm and 5am and having an iKube box professionally fitted to your car, we are able to apply a discount to the price of young drivers insurance
- If you do drive during 11pm and 5am you will still be fully insured but you will be charged £100 per night
- It's as simple as that!
Pass Plus is intensive further training, offered to any drivers who have just passed their test. This can be booked, and in most cases done, with your driving instructor. The course is designed to train new drivers in more challenging situations, which cannot be experienced as a learner driver such as, motorway driving, night driving etc.
Pass Plus does involve an assessment and if passed, can save you up to 35% on your car insurance. The course itself costs £150 approx but will see greater savings on your insurance. Therefore making it not only cheaper overall, but you are safer and more qualified on the roads.
Pay higher excess
A total excess will indicate how much you will have to pay should you need to make a claim. Every car insurance policy, especially for under 25’s, will have a compulsory excess. In order to make your insurance cheaper, you can also include voluntary excess. The higher this excess is, the cheaper your overall policy will be. However ensure the two excess figures combined are reasonable, in case you ever need to make a claim.
Pay your insurance in one hit
Insurance companies will give you the option of paying your policy in one lump sum or in monthly instalments. If you chose to pay by monthly instalments, most companies will charge 15% (some up to 30%) interest so your premium will end up being more expensive.
Secure your car
Cars with better alarm systems will receive better premiums, Thatcham approved alarms are recognised by all insurers.
Insurers will ask where your car will be parked overnight. Your premium will be cheaper if your car is parked on a driveway or garage, as they are less likely to be stolen or vandalised. If you have one of these at your home then use it.
It goes without saying that the safer you drive the cheaper your car insurance becomes. Once you have finished your first year of driving, without any accidents or points, then this will ensure that the next year is cheaper.
This continues to come down as your ‘no claims discount’ increases. If you have accidents that are your fault or receive penalty points on your license, you will never get out of the ‘expensive’ car insurance cycle. Safe drivers are rewarded with cheaper insurance.
For more information on car insurance or anything else car related please feel free to contact MyFirstCar on 01252 377788 or visit our full stocklist at www.myfirstcar.uk.com.