Cheap car insurance is hard to come by as a young driver. Younger drivers tend to have more accidents than older drivers, so insurers push the insurance prices up for all young drivers. Running a car is already expensive, so finding a way to save money on your car insurance could be very useful. Here’s how you can save as a young driver.
Pick a car that is cheaper to insure
When you’re buying your first car, take into account how much the car will cost you to insure. Think about which factors could drive up the cost of auto insurance. Young drivers often pick faster cars with powerful engines, which insurers consider to be a risk when in the hands of a less experienced driver. To bring your costs down, choose a less powerful car with a smaller engine. Before deciding what to buy, check how much it will cost to insure.
Don’t modify your car
Car modifications, such as alloy wheels and body kits, are very popular with young drivers who want to personalize their cars. However, modifications like this can add a lot to your insurance costs. If you don’t want more expensive car insurance, don’t add any modifications to your car and avoid buying a secondhand car with these additions.
It’s also worth keeping in mind that some modifications, such as bumper extensions and long exhaust tailpipes, can increase the risk of injury to other people.
Such modifications should get avoided if you don’t want to deal with a deluge of personal injury lawyer claims!
Consider a black box policy
A black box policy includes an app or tracking device being installed in your car in order to monitor your driving behavior. If you know you’re a safe driver, it can be annoying to know you’re paying more insurance because it is assumed you are a reckless driver just because you’re wrong.
Having a black box means your insurer can offer a fair price based on your actual driving behavior, which can lead to a lot of savings. Just be sure you are actually a safe driver, as a black box will only benefit you if you can drive well.
Pay per year, not monthly
The average cost of car insurance for young drivers is usually very expensive, meaning that most people choose to split this cost up into more affordable monthly payments. However, most insurers offer a sizeable discount if you can afford to pay the whole cost in one go up front. If you can afford to do this, its well worth doing, as you’ll save on interest and may benefit from discounts.
Pay a higher excess
You can drop the cost of your car insurance by quite a lot by choosing to pay a higher voluntary excess on top of the compulsory excess that you’re quoted. Make sure that you can actually afford to pay this excess if you are involved in an accident. Don’t offer to pay a higher excess assuming you’ll never actually have to pay it.
Remember that young drivers are more likely to need to make a claim on their insurance within their first year of driving, so you could be required to pay out that excess sooner than you might think.
PS Hope this was informational ?!
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