As a new driver, you’re seen as a high risk to insurance companies, and the insurance premiums you pay as a result can be astronomical.
The main issue for younger drivers is your lack of experience and age – two things you can’t change. However, there are a number of changes you can make which could help you cut the cost of your car insurance.
- Shop around to get the best price and deal. Use price comparison sites but also go directly to the insurer to see if they can give you a better deal. And make sure you do this every time your insurance comes up for renewal.
- Try to price match and play insurance companies off each other. If you tell one company you can get a better deal elsewhere, they may be able to cut your premium.
- Leave your car standard. Big stereos, spoilers and flash wheels can push your premium up.
- Don’t claim for small things – you need to build up a no-claims bonus (NCB) and you’ll probably have a large excess imposed on you anyway.
- Boost your excess. However, don’t go too mad as you’ll have to cough up in the event of a claim.
- Use a specialist insurance company if you drive a classic or kit car or something else unusual.
- Consider investing in some car security to help make sure your car isn’t stolen.
- Consider telematics-based ‘black box’ insurance.
- Put a parent or another experienced driver on your policy. But whatever you do, don’t claim that they’re the main driver if they’re not – you can be done for fronting.