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How to afford car insurance as a new driver

How to afford car insurance as a new driver. New driver car insurance is not any different to any other policy. However, it is designed to only cover for those who have just started driving.

Your first car insurance policy will likely be the most expensive you’d ever purchase. All the same, you can save hundreds just by comparing prices and options and finding the right cover.

Why is new drivers’ car insurance expensive?

In this article, you will learn how to afford car insurance as a new driver. There are 2 major reasons why new drivers’ car insurance is very expensive. The reasons include

  • Risk
  • Inexperience

New drivers are far more likely to get involved in an accident than experienced drivers. According to the reports of Road safety charity Brake, one young driver in five crashes within a year of passing their test.

How can you save on new drivers’ car insurance?

Saving is the best way on how to afford car insurance as a new driver. There are factors to be taken into consideration in trying to lower the premium. This ranges from the type of car to the type of policy and extras potentially making for cheaper car insurance.

Below are some of the major factors to help you on How to afford car insurance as a new driver:

Type of car:

The type of car you own determines how cheap your premium will be. You should buy a car that will be cheap to insure. Almost all new cars with small engines are the cheapest to insure because they are in the lowest car insurance group.

Type of policy

There are many levels of coverage available for car insurance. The most basic is third party, followed by fire and theft, while comprehensive cover is more comprehensive.

This doesn’t mean basic cover is cheapest. Insurer’s price policies depends on how likely insurers think it is that they will have to pay out. In many cases, a person choosing basic cover is perceived as a higher risk than someone choosing a comprehensive policy.

Get extra qualifications.

You can prove to your insurers that you are a capable driver by taking extra qualifications. Some insurers offer a discount if you have a Pass Plus qualification. However, not all insurers do this. So, you should look for those that offer the discount to get the best deal.

Drive fewer miles.

How to afford car insurance as a new driver is to drive fewer mile. When you take out your policy, the insurance company will ask how many miles you plan to drive.

Try to be as close to the exact figure as possible. Ordinarily, the lesser the miles, the lesser your premium. However, this is not always the case. Therefore, you should consider what the next band up will cost too before deciding on a figure. This is also important as you can be charged for going over your stated limit.

Increase your excess.

The insurance excess is the amount you have to pay out when you claim. By consenting to pay more, you can reduce your premiums. However, ensure you can afford to pay the excess in the event of an accident before you agree to this.

How to afford car insurance as a new driver is to add an experienced driver.

Adding an experienced driver as a named driver can help to reduce the cost of your cover. The best person to add to your policy is a person who has a clean license and many years of no claims.

Do not add yourself as a named driver on someone else’s policy if you intend to be the main driver. This is an offence known as fronting and is capable of invalidating your cover.

Consider black box insurance.

This is a nice option for new drivers because a telematics box will measure your driving skills. This will help to show your insurer that you are a safe driver and thus, help in lowering your premium cover.

Install a dash cam

How to afford car insurance as a new driver is to install a dash cam. A dash cam is a camera that you can install in your car to record your journey. It can be used to prove your innocence in the event that you happen to get involved in an accident. Some insurers will lower your premium if you have one.

The cheapest models of the dash cam can cost just £20. However, you should make sure the outlay is worth the potential saving. You also need to check the model you are buying to ensure that it is on the insurer’s approved list. Otherwise, you may be paying out for no benefit at all.

Increase security.

Insurers will offer cheaper prices if you park your car in a safe environment like a driveway instead of parking on the road. Installing security devices like immobilizers, tracking devices and alarms can also help.

How can you find new drivers’ car insurance companies?

The best way to get a good deal on your car insurance as a young driver is to compare quotes from different insurers.

You should be specific while making the search because not all insurers cover young drivers because of the increased risk.

What factors can increase your premiums?

Once you have taken out your insurance policy, your premiums can climb if you:

Note that you must inform your insurance company if you get involved in an accident. You must do this even if you do not want to claim.

If you acquire 6 points in your first two years of driving, your license will be revoked. Therefore, it is important you drive safely and responsibly. Here is a list of driving offences that will result in penalty points.

If you do get involved in an accident, you should consider paying out of your own pocket instead of claiming. This may not be worth it if the repairs are expensive. However, it will prevent an increase in your premium. It will also help you in building up your no-claims bonus.

Find out more about how this saves you money here

In conclusion, how to afford car insurance as a new driver is by obtaining a good auto insurance for yourself though it may prove to be very expensive. Nevertheless, if you comply with the suggestions listed herein, you should procure a good insurance deal for yourself.

 

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