Car insurance for young motorists has really been soaring over recent years. The average car insurance for juveniles is approximately £3000 per annum. Regardless of these ridiculous high insurance costs youngsters are determined to continue to enjoy a life of ‘freedom on wheels’. Once a juvenile passes their test they naturally want to own their own car, and although reluctant they are willing to pay the cost involved.
Ways for juveniles to avoid the costly car insurance trap
Today, there is no car insurance discrimination between men and women. Even though statistics prove women of all ages are the safer driver, they can no longer be rewarded cheap insurance thanks to the recent ruling by the court. For the first time in history, the European Court of Justice ruled that both genders under 25 will have to pay the same premium amount.
Every juvenile who has just passed their test wants and needs a set of nice wheels, so what are the tricks behind obtaining cheaper car insurance?
- 1. Buy a car less than a 1.2L size engine and an older car. The lower the engine and the older the car can really dramatically decrease car insurance for young drivers.
- 2. Compare insurance companies for third party and fully comprehensive. Never assume third party is the cheapest.
- 3. Consider Admirals bonus accelerator. This literally speeds up your no-claims bonuses from twelve months to ten. This means that you gain your no claims bonus at the end 10 months instead of waiting the full 12 months.
- 4. Transfer any no-claims bonuses. Some juveniles may have previously been insured on mum and dad's insurance or have owned a motorcycle.
- 5. Pay your insurance up front in full to avoid APR credit interest. Consider looking for a 9 to 12 month zero per cent interest-free credit card to help pay your insurance monthly.
- 6. Install a blackbox or a telematic device. These boxes monitor your driving, if you drive well you could benefit from major discounts and cash back. The best boxes to consider installing are the AA drivesafe, Autosaint, Co-op young driver, Hasting's smart miles, Admiral bell, Insurethebox and Coverbox.
- 7. Ask mum or dad if they can add themselves onto your car insurance? An older experienced driver on a juvenile's car insurance can reduce the annual cost by at least £1000.
- 8. Do check out young driver insurance companies. Some companies or brokers specifically deal with under 25's and can give really good advice. Compare Swinton Young Driver Insurance, A Plan, Thames City, Adrian Flux, Endsleigh and Only Young Drivers.
- 9. Consider your occupation carefully without cheating the system as this is considered fraud. Many occupations can in fact double car insurance.
- 10. Investigate devices that can modify your car. Slight mechanical alterations can often reduce car insurance. Always inform your insurer of the modifications made, deliberately withholding information can invalidate your policy.
- 11. Consider Pay As You Drive. This is a tracking device to detect what times you drive. These devices are great for juveniles who don't drive much. Check out iKube, Insure The Box and Coverbox.
- 12. Inform your insurer you intend to drive under 3,000 miles per annum. The lower the miles driven per year the lower the annual cost for the policy.
- 13. Do investigate and visit PassPlus, IAM, or the MaxDriver if you have recently passed your driving test. Many insurance companies offer to reduce policies by at least 25 per cent for attending these courses, and many councils will pay 50 per cent towards the course.
- 14. Do keep your car in a garage, this will also reduce your annual policy.
- 15. Do fit an immobiliser and an alarm on your new car for extra policy discounts.
- 16. Avoid speeding. Speeding may increase policies by 10 per cent for one conviction, 25 per cent for two and 50 per cent plus for three or more.
- 17. Avoid your mum or dad fronting your car insurance. Fronting means mum or dad declares they are the main driver for your car. This is illegal and could result in criminal charges and prosecution.
If you have any other tips, or would like to publish your comments online here, please feel free below: