10 Tips to Reduce the Cost of Teenage Car Insurance
Teenage drivers have a hard time when they start out. With lower income and less driving experience than their older counterparts, we're happy to give teenagers a helping hand to lower their car insurance costs.
- Build up and protect your no-claims bonus. The first year is the hardest, but you'll make significant savings after that, so the sooner you get a policy in your own name, the better.
- Increase your policy excess. This can reduce your insurance premium slightly. If you're a careful driver and don't have any accidents, you'll actually be better off. The reverse is true if you do have to make a claim, however - you'll pay more towards the cost of repairs.
- Restrict drivers on your policy to just one named other driver.
- When signing your car insurance, only add other teenagers if absolutely necessary; the more teenage drivers there are on a policy, the more expensive it will be.
- Keep vehicle modifications to a minimum, as they will push up the price of the replacement value. This is sometimes a problem with teenagers since they want fancy accessories and extra-fast cars, but it has an adverse effect on your insurance.
- Pay your premium in full instead of in monthly instalments - insurers will often give a discount when you pay in full in one instalment but add a surcharge for monthly instalments.
- Take the Pass Plus driver training course - specially aimed at young drivers, completing this course shows that you're committed to driving carefully and can reduce your insurance.
- Install security measures on your car such as an alarm or immobiliser. The more difficult you make it for thieves to steal your car, the lower the risk to an insurance company.
- Park your car on the driveway or in a garage where possible, to reduce likelihood of theft or damage.
- The fewer miles you drive, the cheaper your cover. Make sure your insurer has an accurate estimate of your annual mileage.
There is, of course, an eleventh tip. Perhaps we should have mentioned it sooner.
Get in touch with Insure Your Motor! We'll always make sure you get the best possible cover.
Get a quote today on 0844 493 7743 or online.