Insurance – Make sure it’s a valid policy.
Make sure that you only take out fully comprehensive cover especially in your first two years of driving as this is when you are at the highest risk. Pay particular attention to the amount of Personal injury & legal cover you will get as this is a good indicator of a good policy. It’s no good being in an accident situation if you are not adequately covered. I used to lived next door but one to a lady in London who had been an extremely talented Musician as a young women. She has been paralysed from the neck down for more than 30years and is totally reliant on everyone else for her care as a result of a car accident when young without full cover there would be no care. Don’t let it happen to you!
Young peoples car Insurance cost so much now that many parents are tempted to cut the cost by insuring a car in their name, even though their child is the main driver. Insurer Direct Line say about 2 and a half million drivers have done it. However unless you can prove your parent drives the car more than you, it’s illegal. If you’re found out, your claim could be invalid and you could get 6 points on their licence.
Insurers say that premiums are high because young drivers are more than twice as likely to make an insurance claim as older drivers – and the average value of each claim is three times greater. Premiums will get cheaper with age and more driving experience.
Best ways to help reduce the premiums for a young & first time drivers.
• Take the Pass Plus course of post driving test lessons. A number of insurers offer premium discounts / accelerated no claim bonus build up if you do.
• See if you can increase the level of any voluntary excess on the policy. A larger excess may mean a lower premium but bear in mind that if you may have to pay out if do have a crash. Many insurance companies will add compulsory excess onto younger driver’s policies and this could all add up if your voluntary excess is high.
• A small number of companies, will offer reduced premiums if young drivers undertake to limit the times of day they use the car – i.e. they do not drive at night. 50 percent of all accidents by young drivers happen at night (from ABI).
• Shop around to get the best deal – even for young drivers the premiums will vary. Ring the company direct to discuss your quote and to ask if there are ways you can reduce the premium. It’s worth contacting a broker who could access a wider range of insurers (not just the main ones), some of which may offer cheaper insurance for younger drivers.
• Find out what insurance bracket your car is in and consider buying a lower powered car in a cheaper insurance brackets
- Including an older named driver on a young person’s policy may help bring down the cost.
If in any doubt got to Askmid for further help:
and check out what The One Show recently reported at:
One show report on fronting.