Young Drivers Insurance
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You've probably already found out for yourself just how expensive it is to insure a vehicle for a young driver. According to statistics drivers under 25 years of age do have more accidents than older and more experienced drivers so not unreasonably the insurance companies look upon them all as a bad risk and set their premiums accordingly. So here you are with a teenager or person in the early 20s who wants to drive, what is the cheapest way of getting insurance?
One common way is to add the young person to a parent's insurance policy, and this may be a wise move particularly if the parent has an excellent no claims discount or is entitled to other discounts AND he or she is prepared to let Junior drive the family car! This can still be a relatively costly process however, particularly if the parent drives an expensive, fast vehicle in a high insurance group. In this case it may well be worth considering buying him or her a cheaper, low group car and buying a separate insurance policy for the youngster. This could not only prove cheaper to run than your own gas guzzler, it could prove cheaper to maintain and even repair, as well, particularly if a few dents or scratches could be ignored! An insurance company would smile more benevolently upon a vehicle like this because the lower its value and the lower its top speed and acceleration the less risk it would represent to them and the insurance premium would reflect this.
The next thing to do would be to compare as many quotations as possible before choosing an insurer and often the best way is to use a comparison website, which can often result in very considerable savings.
The best way to stop insurance policies from getting even more expensive in the future for any young driver is to ensure that that young driver does not have to make any claims, because this would shove up premiums considerably. Young people can be a little rebellious and overconfident sometimes, and this can reflect in their driving techniques so you may wish to make it a condition of providing a car that your son or daughter attends a driver improvement course to top up the driving skills already learned before the driving test and find out the best ways of how to avoid car accidents. This could not only persuade insurance companies to reduce the normal premium but would also help ensure that the young person was a safer driver for the benefit of everyone on the road.
Different insurers have different attitudes towards young drivers and learners and this can cause premiums to vary considerably, often by hundreds of pounds for the same driver with the same car so do try to get as many competitive quotations as possible, money is hard earned these days and none of us want to waste it! If the premium is still outside your budget, you may want to consider a no deposit car insurance policy.