subject: Everything You Need To Know About Car Insurance For Young Drivers [print this page] When a young driver applies for car insurance, the insurance companies automatically see red flags waving in front of their eyes, particularly when it involves young males. Let's face; put an eighteen year old behind the wheel of a powerful car and the chances are they'll be off in a cloud of dust.
At that age, most youngsters still believe they're indestructible and unstoppable. Unfortunately, insurance companies have found this out the hard way, which is why they are nowadays extremely careful when providing cover to drivers below the age of 25.
Yes, car insurance for young drivers is generally more expensive than it is for older drivers, but there certainly are a few steps you can take in order to keep the cost of cover down.
Step 1 - Purchase a Modest Car:
If cheap cover ranks high on your agenda, you really do need to avoid flashy cars. You also need to avoid cars with high performance engines. Doing so will show the insurance companies you have no intention of training to become the next Formula 1 world champion. Choosing a car with a modest 1.3 litre engine will go a long way in keeping your premiums down, whereas a 3.0 litre V6 Turbo could see you paying up to 50% more for cover.
You should also try to purchase a car which is easily repaired, and one which won't cost thousands and thousands of pounds to replace if it ever gets stolen. A car which has a book value of 2000 pounds is much less of a risk to insurance companies than one which is valued at 8000 pounds, and of course this will be reflected in your premiums.
Additionally, you can have rates reduced even further if you opt for a car which has an alarm fitted. Immobilisers and tracking devices also help to reduce the cost of cover, and as a young driver, you need to take advantage of any opportunity you get.
Step 2 - Opting for a Higher Excess:
The excess is the amount you'll pay upfront if you ever submit a claim. In other words, if you have your deductible set at 400 pounds, then that is the amount you'll be expected to pay before the insurance company parts with any cash. The more you are will to pay up front, the less the insurance company will charge you for cover. With that said, it's not advisable to have the deductible set too high, or else you may not be able to afford it if the need ever arises.
Step 3 - Choosing the Correct Level of Cover:
Third party, fire and theft cover is the cheapest level of cover you can purchase, but depending on the type of car you purchase, it may well be all you need. For example, if you go ahead and purchase a car for about 1000 pounds or less, there's not really much need for you to take out fully comprehensive cover, which by the way, is the most expensive level of cover. It's also worth mentioning that there is a vast difference in cost. As you can see, this is yet another reason why you should settle for cheap second-hand cars, at least until such time you turn 25.
If you choose a fast car that costs a fortune, you can quite literally wave goodbye to affordable car insurance for young drivers. Choose you vehicle sensibly, and you'll be pleasantly surprised at just how affordable cover can be.
by: Tom Jones
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