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Young drivers present a higher risk to insurers,
which is reflected in their premiums. Therefore as a young driver,
it can be difficult to find good quality cover at a low cost.
Dial Direct has some tips for young drivers
to help keep premiums manageable:
- Buy an older low performance car, whilst
you build up your no claims discount.
- Fit an insurance approved immobiliser
to reduce the risk of theft.
- Avoid modifying the car, such as adding
alloy wheels, as this will increase the premium.
- If the car has a low resell value, restrict
cover to third party only or third party fire and theft.
- If you are taking out comprehensive cover,
opt for a higher voluntary excess, which will lower the premium.
- Take the Pass Plus test. Not only will
this help you feel more confident about driving, some insurers
will discount premiums if the driver has passed this test.
- A common
misnomer is that young people can be sheltered from high premiums
by having an older, more experienced motorist as the named
driver of their vehicle. This is no longer the case as insurers
now set the price according to the youngest driver. Insure
the car in your name and do not be tempted to hide as a named
driver on a policy in your parent’s
name. This is known as fronting and if you are found out, it
can void your insurance. In the long run, you will benefit as
you can build up your own no claims bonus quicker.
- Don’t
ever be tempted to lie to the insurance company to get a cheaper
premium. If you are found out, not only will your claim be
repudiated and your policy voided. It is also viewed as a serious
offence by the police and you could be prosecuted. This would
result in a criminal record and points on your licence and
you can be sure that this will increase your premiums.
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