Many young motorists see passing their driving test as a ‘Coming of Age’. The new-found independence and freedom that driving a vehicle can bring is, unfortunately, often tempered by the expensive car insurance rates that are applied to teenage drivers. When the cost of a policy is factored in with the rising price of fuel, road tax and any work needed to obtain a valid MOT certificate, the appeal of driving a vehicle can be diminished within an instant.
Like the United States, accident statistics in the UK highlight the fact that young drivers are more likely to be involved in a road traffic accident than any other age group and this makes car insurance exorbitantly expensive. However, there are a series of steps that teenage motorists can adopt in order to bring car insurance premiums down to a more affordable level.
- Purchase an older car with a 1.2L engine capacity (or less) to attract cheaper car insurance rates
- Instead of purchasing individual coverage, it is usually cheaper to add a young driver to the car insurance policy of a parent or guardian as long as they have a safe driving history as well
- Attend the ‘Pass Plus’ scheme after passing a driving test. This is highly recommended and the £180 fee will quickly be recovered on your first car insurance quotes
- Pay for a policy in a single lump sum. Staggered payments may help to control the spiralling costs associated with car insurance for young drivers but most carriers apply interest rates if you pay for your coverage on a monthly basis