Inexperience and youth can be costly when it comes to finding cheaper car insurance. New drivers often have less experience on the roads and tend to be involved in more accidents than people in other age categories so they are considered a higher risk to insure.
This is why teens or parents who add teens to their car insurance policies often experience a rise in their monthly payments. Thankfully, there are a number of ways to lower these risks and make the policies more affordable. Here are our top tips for reducing your car insurance risk if you’re a teen…
Look for the discounts
No matter what you’re purchasing, whether it be a new car or a car insurance policy, it’s always a good idea to look for the best deals.
Very cheap car insurance can be found from a number of providers. Many of them offer discounts to teens and young drivers who have a clean driving record or have passed an approved education course. Some providers also reward drivers who do well in their exams, as evidence has shown that teens who achieve B grades at GCSE level are less likely to be involved in a car accident. Finding very cheap car insurance is easy if you use a comparison site.
Choose a safe vehicle
The type of vehicle you drive can play a huge role in how expensive your insurance is. High-performance vehicles will usually cost more money to insure because they cost more to repair or replace if involved in an accident.
Vehicles that have good safety records and features like lane departure warning systems, automatic braking and blind-spot detectors will often reduce your insurance premiums. It’s a great idea to find out the safety rating of a car before purchasing it.
Increase your excess
Increasing your excess will lower the cost of your monthly insurance payments. However, this does mean that if you’re involved in an accident as a teen, you will have to pay out more money to get it repaired or replaced.
Think about increasing your excess to the highest amount you could afford if you were to have an accident.
Consider taking out a policy with your current provider
Most insurance companies now offer cheaper rates to people who take out multiple policies with them. If you or a family member has life insurance or home insurance with a provider, then it’s a good idea to speak to them to see if they can offer you any discounts if you take out an additional policy with them. Many of these providers also offer loyalty discounts to people who stay with them for the long-term.
Car insurance can be expensive, particularly if you’re young and inexperienced. However, by following some of our top tips and finding a reliable provider, you should be able to reduce your car insurance premium when you start driving as a teen.
