Four Ways Young Drivers Can Help To Reduce The Cost Of Their Car Insurance

It’s not easy on the pocket being a young driver these days. Indeed, the cost of many car insurance premiums aimed at 17-24 year-olds is often enough to put young people off the idea of learning to drive completely. However, there are some things which younger drivers (and their parents) can do to help bring down these costs, in some cases quite significantly. Below are five strategies which younger drivers can use to help get potentially lucrative reductions on some insurance premiums.

Get a ‘Pass Plus’ qualification

The Pass Plus scheme is basically a ‘top up’ training course which is designed to help new drivers become even more confident and competent on the road. It is available to any driver (including those with points) who has passed their test and takes little more than six hours to complete. Although Pass Plus is not officially recognised by all UK-based insurers, many of those that do acknowledge it are willing to offer healthy discounts to drivers who pass it.

Pay annually rather than monthly

With the average car insurance premium now hovering close to the £1,000 mark, it is small wonder most young drivers choose to stagger payments instead of pay out for a premium all in one go. The thing is, paying for a year’s insurance in one lump sum rather than in twelve monthly payments can often work out to be much cheaper as it avoids the necessity of having to pay monthly interest charges.

Consider paying a greater excess

Opting to pay a higher voluntary excess on top of the compulsory excess (the amount a driver will have to pay up front if they make a claim) quoted on a premium is a proven way of helping to reduce the cost of car insurance. Needless to say, this strategy is only to be applied by those who are confident they will be able to pay the excess required in the event of an accident happening (young drivers of independent means may struggle to find £500 or more after a crash in this day and age). It is also worth considering that young drivers are statistically more likely to make a claim within the first year of driving, so they could end up forking out for a higher voluntary excess quite early on.

Add a named driver

Most younger drivers can reduce their car insurance costs by adding an extra named driver – preferably someone who is older and more experienced on the road – to their insurance policy. Although this can be pretty much anyone i.e. it doesn’t matter what their occupation is or whether they are male or female, it is generally better to avoid adding someone who has points on their licence. It is important to note that putting a policy in a parent’s name and identifying the younger driver as a named driver when they’re really the main driver (known as ‘fronting’) is illegal and as such it will result in insurers rejecting claims outright.