Young drivers are
more likely to be involved in an accident than mature drivers. Young in
the insurance industry usually implies anyone below 21 years. In some
insurance companies, this upper age limit can be stretched to 25 years
so it is important to check each company’s age specifications when
looking for young drivers’ insurance. This is statistically proven and
for as long as the statistics point in this direction, young drivers
will continue paying more to insure their cars.
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The only exception
to this is if the driver has managed to accumulate a no claims bonus (NCD)
for a year or two. Insurers will give discounts based on this. The
amount of discount is proportional to the duration of the no-claims
discount. A young driver with a three year no claims discount will pay
much less than one with a one year no claims discount. There are
companies giving discounts to young drivers with at least a year’s no
claim discount, regardless of other factors that may affect their rates.
You can find such companies by searching on the internet.
To begin your search for affordable young drivers’ insurance, get as
many quotes as possible from numerous providers. Compare each of these
quotes to find the lowest rates. The difference between the lowest
priced quote and the highest is often huge, easily adding up to hundreds
of pounds per year. Why pay £1,200 when you can get a policy for £800?
It is only by comparing quotes that you can find who has the lowest
offer. Comparison should be done for both online and offline insurance
companies.
Now that you have found affordable insurance, how can you ensure that
you continue paying the same low premiums?
The first thing you need to do is strive to establish and sustain a no
claims bonus. If an accident in the past ended in you filing a claim,
any record you had built up to that point was dissolved and you must
start afresh. Usually, careful driving will help you stay clean of an
accident stain. Avoid filing claims for small incidents if you can pay
for them from your pocket. This will enhance your NCD and you will be
able to start enjoying good discounts sooner than you think. Avoiding
penalty points alongside with accidents will help you get much lower
rates during the renewal of your policy.
If your current car has a high insurance group rating, consider
exchanging it for one in the lower ranks. This will reduce your premiums
further. The group rating is calculated based on the car’s likelihood to
get into an accident and the cost of restoring it to its former good
form. If the assessment gives a high rating in both cases, insurance
rates for the car will be high. Get a car with a low rating for the
duration you will be in the young drivers’ bracket. You can then switch
to the car of your choice when you are older.
Safety features like automatic safety belts, tracking systems, alarms
and high tech door locks can greatly lower your premiums. Ensure that
you have a safe garage for parking your car at night, preferably one
that can be locked. Insurers look at every safety measure taken and give
premium rates based on that.
It is very important to have sufficient amount of coverage, for you and
your car. Your policy should be able to cover you when you injure
another driver or damage their car. Young drivers will be better
protected if they have a comprehensive insurance policy, as opposed to
third party only.