How Young Drivers Can Lower Car Insurance Costs

Lower Car Insurance Costs

Below are 8 hot tips that young drivers can use to get the best car insurance covers and keep the policy costs down.

(1). Consider Telematics

Young drivers can leverage telematics car insurance policies to prove they share the same risk levels as drivers over 25 years and enjoy smaller premiums. Using this strategy, the vehicle can be fitted with a black box to monitor how you drive.  You also will have access to the data to understand your driving habits and identify the areas of your skills that you should improve.

(2). Honesty When Fill Out Your Application 

Filling out your insurance application with the correct information to ensure it is accurate can help you enjoy lower premiums. For instance, your expected mileage can influence how much your coverage will cost over the following months or years.

Therefore, overstating the figure may result in you paying more than is the standard. Conversely, avoid registering your vehicle under “for business use” because you use it to get to work. It is a mistake that results in you paying higher premiums for your automobile insurance coverage.

(3). Pick A Car In A Low Insurance Category

Besides the drivers’ age, where they live, and their job are other factors that can be considered when determining the insurance costs. Your car choice is another issue, but one whose influence on your insurance coverage you can control.

Insurance providers place higher premiums on high-end vehicles with powerful engines. The charge is associate with the significant risk of accidents and high repair costs. Moreover, customizations such as allow wheels and carbon fiber features make the car more appealing to thieves, which is a factor that causes the insurance costs to shoot up. Check out Thatcham’s website to know which vehicles are cheaper or costlier to insure.

While some modifications enhance a car’s performance and safety, things such as an immobilizer and alarm are some of the additions that can lower your policy’s costs by a few dollars. The same applies to parking your vehicle in a safe place overnight, somewhere like a locked garage.

(4). Minimize Your Risk

Adhere to traffic rules and ensure your license stays spotless. Your premiums are likely to fall when renewing the policy if you have no accidents and no claims on your license. Moreover, reducing your annual mileage also helps lower the premium.

(5). Carefully Pick Your Named Drivers 

You risk increasing your automobile insurance costs when you add another young but inexperienced driver to your policy. Some people will try “fronting,” which is a tactic of asking someone to pretend to be the main driver to lower their premiums. It is a practice that infringes insurance rules and could result in your policy being revoked and you facing jail time for committing fraud.

(6). Take An Advanced Driving Course 

As a young driver, you can prove to the insurance providers that you are less of a risk if you take extra driving courses to get additional qualifications like the Pass Plus. Taking such classes can arm you with experience in varied driving conditions or situations and mastering the wheel. It also may prove useful in reducing your car insurance costs.

(7). Check Up On Your Insurance Provider

Think twice when that deal you found online sounds too good to be true. You might be dealing with scammers. Fraudulent insurance companies often target the young and less informed drivers, mostly targeting drivers in their early 20s. According to the London City police, these fake insurers woo the unsuspecting drivers with bogus, cheap automobile insurance policies. The police department does provide tips to young drivers on how they can avoid being duped by such insurers.

(8). Avoid Paying In Monthly Instalments 

When paying your insurance, you will have two options – make monthly payments or up-front payments. An up-front payment might seem heftier but is the more cost-effective option. The monthly installments, spread throughout the year, might be less burdening to your pocket, but you will have paid more via the interests charged.