How to get cheap car insurance for young drivers

Ben Cooper
Written by: Ben Cooper
Posted on: 16 February 2016

It’s not just the costs of learning to drive and getting a car that young drivers need to worry about, there’s also the nasty surprise of high insurance premiums.

It may seem unfair that these premiums are so high, especially when young people are likely to be pretty skint, but young drivers are statistically the most likely to have an accident.

Then there’s the added concern that the accidents they do have are likely to result in high-cost claims – so it’s no wonder they’re faced with such eye-watering premiums.

But young drivers can get their car insurance cheaper. Follow our few simple guidelines, and those payments will soon start dropping.

How to lower your car insurance

Whether you’re a young driver looking for cheap car insurance, or you’re in your 50s with a big no-claims bonus, there are some general rules to follow to help keep your car insurance as low as possible.

  • Protect your no claim discount. If your insurer lets you, you should protect your no claim discount – even if you only have a single year. Although you pay for the privilege, that small hit will pale in comparison to the hike in your premium if you lose it due to an accident. Remember, a no claim discount of 5 years-plus can reduce your premium by up to 75%.
  • Keep your car safe. The less likely your car is to be stolen the better, for you and your car insurance. If your car is fitted with an alarm, immobiliser, tracking device and other security features it will have an impact on your premium.
  • Mind where you park. If you have the luxury of a driveway or a secure garage, then take advantage of it if. Being parked overnight in a secure garage will really help drive down your premium.
  • More excess. If you can afford to, increase your voluntary excess. Don’t go higher than you could realistically afford in the event of a claim (especially if your car is low value), but offer to pay more for repairs and you’ll see a saving in your premium.
  • Drive less. It’s not an option for everyone, but this can be a good way for younger drivers to get cheaper car insurance. If you know you’re only going to cover a few thousand miles a year because you only use the car at weekends or for small journeys, then go for that figure. The more you drive the more likely you are to have an accident, so high mileage drivers have higher premiums. But don’t under-quote on purpose. If you are inaccurate your policy could be invalidated.

Young drivers car insurance tips

To get cheap car insurance for young drivers, follow all the above points where possible, but also consider telematics insurance. Also known as blackbox car insurance, it will base your policy on your driving performance.

Read: What is telematics car insurance?

A small blackbox device is fitted to your car. It then records how you drive by analysing various things, like how fast you drive and how hard you brake. Your insurer then knows how sensibly you’re driving, and will reward you for it.

If you’re paying annually, you’ll find a sizable discount when your premium’s up for renewal. If you’re paying monthly, they may adjust the premium each month as well as offer you a discount at the annual renewal.

Although those under 25 will usually have higher insurance costs, it’s possible to get cheap car insurance for young drivers. The trick is to get the right policy and play it safe when you’re on the road.

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Things you need to know about Over 50s life insurance:
Premiums stop after your 90th birthday but you still enjoy cover for the rest of your life. In the first year, if you die from natural causes we will refund any premiums, or if you die as a result of an accident, we will pay your cash sum. After the first year regardless of the cause of death we will pay your cash sum. Depending on how long you live, the total sum paid in premiums may be more than the cash sum payable on death. If you stop paying your premiums before the end of your policy your cover will stop 30 days after your missed premium and you won’t get anything back. This isn’t a savings or investment product and has no cash value unless a valid claim is made. Inflation will reduce the buying power of your cash sum in the future.

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