Large Insurance Premiums for Young Drivers can be Reduced

All young drivers should not be branded boy racers, yet it seems car insurance premiums are often far higher for motorists under the age of 21 years old.

One car insuranceexpert told a gathered conference, “I believe the industry must work together to find a formula that recognises those who are able to demonstrate they take a responsible approach to driving.”

This will be popular with many young people who have to pay large insurance premiums at the start of their driving lives.

Some insurers will be apprehensive in offering insurance cover for drivers under the age of 21 years old, with many companies extending that to people under the age of 25 years old.

The few that do provide cover will often charge excessive prices, which is leading to many novice motorists driving whilst uninsured as they can’t afford the premiums on offer.

It is hardly surprising that many people who pass their driving test are left feeling dejected when they calculate the cost of running a car. However, there are some dos and don’ts that can help keep insurance premiums down.

Young drivers can consider taking an advanced drivers course in an attempt to persuade their insurance company that they are responsible drivers. All insurers will calculate their customers’ premiums on the probability of them making a claim, so the less likely they consider someone will make a claim, the less the insurance cost will be to cover them.

Insurance expert Simon Douglas said, “One out of every five young drivers suffers a crash within their first year of driving and young drivers are 10 times more likely to be involved in a serious collision than experienced drivers.”

It is vital that young drivers don’t make modifications to their vehicles even if the changes don’t have an impact on the speed or power of the car. Modified cars generally cost more to insure than unmodified cars.

Improving a cars security measures is another good way of reducing premiums. Reducing the chance of a vehicle being stolen or broken into by fitting it with an alarm system or immobiliser, or by decreasing the risk of the car suffering criminal damage by parking it in a secure location, will make a difference to the quotes insurers will offer.

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