Car Insurance For Young Drivers - Beat The System And You'll Pay Less For Cover
Finding cheap car insurance can be a nightmare at the best of times
, but it's certainly a lot easier than it is trying for find car insurance for a youngster. In fact, most parents dread the day they'll need to take out cover for their kid because they know it's going to cost them.The truth is however, if you think this through before your child actually gets behind the wheel, you can save a huge amount of money as far as insurance premiums are concerned.
Generally speaking, car insurance for young drivers can cost up to 50% more than it costs for older drivers, and considering you may be paying these inflated rates for a number of years, it really does pay to do your homework.
Searching for Student Discounts:
Not all insurance companies offer student discounts, but there are many that do, so this is a good place to start. The best thing to do is to go online and beginning searching for providers who are willing to offer such discounts. This will help you to narrow down your options when it comes to making your final decision.
Advanced Driving Courses:
Once you have a list of companies willing to offer student discounts, you need to determine which of them recognise advanced driving course, and which ones don't. Those that do will no doubt only recognise certain courses, so obviously you need to find out which course will benefit your child the most as far as reduced rates are concerned.
New Car vs. Second-hand Car:
As a general rule of thumb, it costs more to insure a new car than what it does to insure a second-hand car. With that said, there are a few exceptions. For example, it would cost more to insure a top-of-the-range Mercedes which is two or three years old than it would cost to insure certain new cars with small engines.
The more it costs to replace a car, the higher your premiums will. The same applies to cars which cost a lot to repair, because insurance companies know that parts often need to be imported. A common make and model is by far the best choice for a new driver, and of course they should also avoid those models which have large powerful engines. In fact, anything above a 1.6 litre motor should be out of the question.
Another advantage of having you child start off with an old banger is that you'll more than likely be able to settle for third party, fire and theft cover rather than choosing expensive fully comprehensive cover.
Should You Include a Young Driver On Your Own Policy?
This would depend largely on what type of car you drive. If you yourself drive a relatively standard type of car, and one which has a modest engine capacity, then adding your child's name to your policy would probably work out cheaper than having them get their own policy. On the other hand, if you drive a new car which costs a pretty penny, you really don't want you child's name on your policy!
As far as insurance companies are concerned, car insurance for young drivers is all about risk. Young drivers are known to have a passion for speeding, so of course insurance companies don't feel comfortable with young people driving sports cars. Young drivers are more likely to take risks, and the more risks they take, the more chance there is of them being involved in an accident. Young drivers are also more careless, and are more likely to leave their cars parked with the keys still in the ignition.
In the eyes of the insurance companies, young drivers don't have much going for them, and this is why it's crucial to make sure you do whatever you can in order to keep those premiums down. Providing you do, car insurance for young drivers need not cost an arm and a leg.
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