New drivers face higher costs compared to more experienced road users.
This is partially due to the increased risk of collisions and dangerous driving: according to road safety charity Brake, around 1 in 5 drivers crash within a year of passing their test.
Even with a safe, responsible attitude, it can be hard to make motoring affordable as a new driver. But with a few proactive steps, it’s possible to save some money. We’ve explained our top tips for getting cheaper insurance below.
Understand the risk factors
There are some key risk factors inherently associated with new drivers. Higher insurance premiums are typically required for younger people, especially those with less driving experience or more powerful cars.
Young drivers are deemed particularly risky to insurance providers for several reasons. These include:
- Driving at night: Nighttime not only introduces the obvious hazard of reduced visibility but has been linked to increased risk-taking and antisocial behaviour amongst young drivers.
- Carrying passengers: Teenagers and young adults are impressionable, especially with friends. New drivers are more likely to speed and take serious risks on the roads due to peer pressure.
- Drink driving: Younger drivers are unfortunately also more likely to report having driven when under the influence of alcohol.
Explore different policy types
Once you know about the risk factors that concern insurance providers, it’s worth comparing different policy types to see which best suit your needs. You can find affordable young driver insurance to cover a range of vehicles.
The main levels of cover include:
- Third-party: The minimum legal requirement. Third-party insurance covers you if you’re responsible for injuring another person or damaging someone else’s car.
- Third-party, fire and theft: Building on third-party cover, this insurance level also protects you if your vehicle is damaged by fire or stolen when parked and locked.
- Comprehensive: This is the best level of protection, offering all the benefits of third-party, fire and theft while covering you and your car against accidental damage. This includes damage from collisions.
Know how to lower your premium
Luckily, there are certain ways to lower your insurance costs despite being a new driver. Just remember that you must have honest intentions to fulfil the information you provide. If you lie to your provider, it counts as insurance fraud and you could face serious legal consequences.
A few ways to lower your policy premium may include:
- Choosing a less powerful car
- Increasing the excess you’re willing to pay
- Completing advanced driving courses
- Reducing your annual mileage
- Buying a cheaper vehicle
As much as you’d like to buy something flashy for your first car, keeping it cheap lowers insurance costs too. With a lower investment comes fewer potential queries stemming from damage.
Choose a telematics policy
Finally, if you still can’t find an insurance policy that falls within your budget, it could be time to consider a telematics policy. These policies are usually cheaper from the get-go.
Also known as a black box, this includes fitting your car with a small monitoring device. It tracks your driving and records key metrics like your speed, stopping distance, mileage and times of travel.
Combined, these all contribute to a driver score that indicates how risky your insurer deems you. If you follow the Highway Code, never speed and show sensible habits, you’ll quickly start saving even more on your insurance.
Remember, you’ll still have the freedom to drive wherever you’d like to. Ultimately, your choice is between staying safe or spending more!
