Young Driver Insurance

Ways to help Reduce your Car Insurance for Young Drivers

As a young driver, finding ways to reduce your car insurance premiums are probably at the top of your list and the number one priority. As a new and young qualified driver, when it comes to getting on the road for the first time there are a number of costs ranging from car tax, cost of the car you purchase, and the car insurance cover. The most expensive aspect being your car insurance for the first couple of years. Insurance isn't kind to many young drivers as the insurance premium is often higher than the more experienced drivers.

Factors that affect your insurance premiums

The class and age of your vehicle
Your age
The number of claim-free driving experience you have
The years you have held a full/learner driving licence

One of the main factors that can affect young drivers is they do not have access to driving experience discounts or no claim bonus so you will be required to pay a lot more than drivers who have many years of experience on the road. It is essential that you do your research and get the insurance experts to find you the best deal and price where possible. So, here are our helpful tips for reducing your car insurance as a young driver.

- Buy a reliable and safe car

The quickest way to get cheaper car insurance as a young driver is to buy a safer and more reliable car. It may not be your dream car however it will cost you a lot more if your car comes with more risk and a higher safety rating.

- Avoid sports and high-performance cars

It might be fun to drive around in high-performance sports car however it would cost a small fortune to run on tax, insurance, and fuel. The higher-spec and power of your vehicle the more your motor insurance will cost. If you were involved in an accident in a high spec vehicle it would cost you a lot more on repairs also. Japanese cars are often recommended to young drivers due to them being well built and relatively cheaper to insure.

- Do your Research

The internet is a great source for researching online for the cheapest insurance companies on the market. The majority of insurance companies feature “get a quick quote” on their website. Look up various companies and compare quotes to find the best price that is suitable for you and your budget.

- Choose your insurance cover

Comprehensive and third-party fire and theft would be the two most popular insurance cover options. Whichever plan you go for always go through the policy details with your broker to ensure you have everything you need on the policy. You can obtain comparable quotes on both these options from broker companies such as ourselves and quotedevil.ie/car-insurance.

- Get insured under your parent's policy

Get insured under your parent's policy it will lower your premium costs sufficiently.

- Additional Drivers

A driver could be added to your insurance policy who has more driving experience and is a full licence driver. Their presence on the cover policy may help reduce the premium and lower the risks.

- Named Driver

Having a named driver experience will help lower the cost of your insurance. It can be expensive to get insured for the first time however if you have some experience in driving under your parent’s policy this can be used as a form of no claims bonus. Named drivers insurance will show the company that you have good driving experience and will initially make your insurance cheaper in the long run.

- Licence

Obtaining your full driving licence as soon as possible is the best thing to do. Once you obtain this, your insurance cover costs will greatly reduce. The longer you are driving this will benefit you as you will be able to get a better no claims bonus.

- Excess

It is important to consider how much you can afford to pay on policy excess. The policy excess is the cost the insurer would have to pay if they made a claim on an insurance policy. E.G. you would pay the first €250 of repair costs if your car became damaged which is the excess and the insurance company would pay the rest. Many insurance brokers apply a compulsory excess to the policy but this would depend on your circumstances and the insurer.

- Have a clean driving licence

Your premiums can increase substantially if you have points on your licence and any driving convictions. Having a clean driving licence can make your insurance so much cheaper in the long term. Remember to drive carefully and always obey the rules of the road.

- Have your own policy

It may be a lot cheaper to be insured under your parent's policy and drive their car however when you get your own car and become a regular driver on the road you will need your own policy. The first year's insurance premium can be expensive but after the first year you will start earning a no claim bonus and you will immediately be given a discount on your annual premium the price would depend on the insurance company you are with. The quicker you have your own policy the sooner you will receive reductions.

- Install a security alarm and immobilizer into your vehicle

The security in your vehicle can go unnoticed and slip many people's minds even drivers with experience. Having an approved car alarm and immobiliser fitted into your motor will save you money off your policy in the long term. This way you will avoid your motor being stolen, damaged, or vandalised which will put your policy at risk.

- Avoid modifications

It may look impressive to add modifications to your vehicle, but they will cost you a lot of money in the long term. Changing the performance and look of your motor would increase the chances of it being stolen. Any modifications such as wheels, enhancing mods to the engine, roll cages and bars, sports seats, uprated brakes, altered suspensions, body kits, and spoilers are likely to raise your insurance costs.