Finding cheap car insurance is a challenge for any driver, but it is even more difficult for a young driver. If you are buying your insurance policy for the first time, you may have already experienced a shock as you saw the first few quotes. This guide will help you spot deals so that you can save money on your car insurance and get the type of cover that you need.
Pass Plus Driving Exam
Since young drives don’t have experience on the roads (or at least, not a lot of it), they are more likely to have accidents. Taking the pass plus driving exam can help you save money on your car insurance. This training course is designed to help you become more familiar with the road and the things that you will need to remember while driving. Some companies will offer you a discount of 35% on your insurance simply for completing this test, but it can usually cost about £150 to take it. Even though you will have to pay to take the test, you could still save money because your premiums will be so high.
You should also consider that you might have to pay that excess at some point, so make sure that you will be able to afford the amount that you choose if you need it.
Choose a Higher Excess
The excess that you choose will affect how much you have to pay every year in premiums. The excess is the amount that you will have to pay towards the cost of an accident if you are determined to be at fault. After you pay the excess amount, your car insurance will cover their portion. If you increase your excess, your premiums will drop.
Choose a Third Party Policy
Third party policies are typically very good for young drivers because it allows tem to find great deals on their insurance. If you are in search of the least expensive policy that you will be able to find, look for a third party policy. The third party policy will not cover damages to your vehicle in an accident, but it will cover damages that you cause to another person’s vehicle. This is the minimum amount required by UK law, and it is the least expensive type of policy.
Note: if your car is expensive to repair, choose comprehensive cover because the savings that you will receive on your premiums may not be worth it if you are in an accident and you are required to pay for your own car’s repairs.
Pay it All in One Go
Making your payment once a year can save you some money on your car insurance. Check with your company to see exactly how much that will be for your specific policy.
A Clean Driving Record will Save You a Lot of Money
Make sure that you are driving safely and abiding by traffic laws because you can actually end up saving quite a bit of money over the years. Your mileage will also affect your premiums, so try to keep your driving time down if you can.
Look for a Company with a Good No Claims Bonus
Insurance companies offer a no claims bonus if you do not have any accidents or file a claim with your insurance company for a certain amount of time. Your pass plus driving test may also boost your no claims bonus, and after 5 years, you can lock it in if you choose the right company. The no claims bonus is basically a reimbursement of some of the money that you paid in premiums, and companies may offer a no claims bonus up to 75%.