Car insurance for young drivers
The ups and downs of being a first time driver!
Getting your licence is a rite of passage, and yet you’ll often end up with more expensive car insurance just for being the age you are! Understandably, this may feel a little unfair. The reality is, however, that younger drivers are statistically more likely to be involved in accidents than other demographics, so many drivers under the age of 25 are painted with a similar brush.
But with our helpful tips below, and our simple to use service for comparing policies, first time drivers can start to win back the advantage.
Levelling the playing field for young drivers
Okay, so you’re young and it’s likely you’ll need to shell out more on your insurance than older and more experienced drivers. It’s not all doom and gloom though! There are certain things you can do to give yourself the best chance at reducing your premium, both in the short and long term.
- Perhaps the biggest factor that will influence your premium is the type of car you drive. Sports, luxury and highly modified vehicles can (but not always) attract higher premiums. Instead, look for a car that’s safe and reliable.
- Alarms, immobilisers and other anti-theft devices can contribute to a more competitive (i.e. cheaper) premium.
- Look at where you park your car. Is it in a secure garage or car port, if so, insurers may lower your premium, as opposed to cars parked in the street – so call them up and let them know!
- Take a close look at how you pay for your insurance. You may find that a lump annual payment works best for you. Just because you have a car, doesn’t mean you need to drive it Low kilometre drivers (for some insurers, 10,000 or even 20,000 km or less annually) will attract a less expensive premium. Public transport and lifts from your mates are both great alternatives to taking your own car.
Above all, developing a safe driving record (i.e. not claiming on your insurance) is a sure-fire way of progressively lowering your insurance premiums long term. In addition maintain a good driving history (e.g. don’t speed, or lose your license). If possible, take a defensive driving course so that you don’t freeze up in an accident.
And make sure you service your vehicle regularly and keep a close eye on your tyres.
Is there such a thing as cheap car insurance for under 25’s?
You can take out cheaper insurance options like third party property/fire theft, and these policies are certainly less expensive than comprehensive ones. However, third party insurance will not cover your own car in the event of an accident in most circumstances. You could wind up losing the most valuable thing you own, or at the very least be left with a massive repair bill.
Comprehensive car insurance offers the highest degree of protection on the road. While it’s more expensive than CTP cover, that doesn’t mean it’s unaffordable! Fill out a quote with our car insurance comparison service and see if you can find a reasonably priced policy.
We do not compare all car insurers or products in the market. Any advice given above is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is suitable for you and your personal circumstances, and before you make any decision about whether to purchase a product, you should read the PDS for that product.
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