4 Ways Young Drivers Can Save the Money
Youth Time Magazine has prepared young driver’s tips for saving money.
Getting car insurance can be tough when you’re a young or a new driver. You have to deal with different rates, and your age could make a big difference to the type of car you can actually get. While this can be frustrating, it doesn’t mean there’s nothing you can do. There are tons of ways that you can cut the amount you pay on your insurance premiums, even if you’re still new to driving. Let’s take a look at a few ways you can avoid overspending on car insurance as a young driver.
Start with the Basics
You should know that the second most important thing after your experience as a driver will be the vehicle you choose. Being an inexperienced driver in a high-performance vehicle will send your premiums through the roof.
With that in mind, you might want to reconsider your choice of car or make some concessions. You could reduce costs if you go from a 6 cylinder to a 4 cylinder vehicle, for instance. The security rating of the car will also make a difference, so make sure that you check it before you consider a vehicle.
Look for Different Quotes
Know that while most providers will tend to charge you more as a young driver, it doesn’t mean that the difference will be as striking with every insurer. Some might be more open to working with new and young drivers, so it always pays to shop around and compare car insurance.
If you want to get the best quote possible, we suggest you use car insurance comparison sites like Quotezone.co.uk. On there, you will be able to compare car insurance from over 100 different insurance providers in a matter of minutes.
Check the Excess
Besides premiums, there’s another way that car insurance companies try to get younger drivers, and that’s by charging a higher excess. The excess is the amount of money that you’ll have to pay out of pocket for any claims.
If the excess is £300, that means you’ll have to pay £300 until your insurance starts paying. Know that you can also decide to voluntarily pay a higher excess if you want to reduce your premiums. However, you have to make sure that you’ll be able to pay it in the case of an incident.
Try to Avoid Additional Drivers as Much as You Can
Now is not the right time to have tons of additional drivers on your insurance policy. They will hike your premiums and will increase the chance of claims. Only do so if it’s necessary, and if you expect someone you know to use your car often, such as when being a designated driver, for instance.
It can help to add an older, more experienced driver to your policy, as this typically brings the cost of the policy down.
Another way to reduce the cost of insurance as a new driver is to agree to have a telematics device fitted.
Having to pay more insurance as a new driver is part of the deal. However, always know that your options are wide open and do what you can to find ways to reduce your costs to a minimum. We are here to secure young driver’s tips for saving money.
Photos: Shutterstock Edited by Martina Adveney
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