17 March 2010 :
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Young Persons' Car Insurance
It's an unfortunate fact that a combination of factors, including age, driving experience and lifestyle, make young people a high risk group of drivers. Insurance companies are masters of number crunching and they base their businesses on the statistics that they gather.
The age span up to 25 is especially prone to expensive car accidents and so this is reflected in their very high insurance premiums at a time when they are least likely to have much money. The type of cars sometimes favoured by young drivers such as fast, sporty models, also tend to contribute to heavy premiums.
Insurance companies that provide cover for young drivers do so at a price but they will take into account other factors that can help to bring down the cost. Young drivers can see the effect of safe driving on their premium with every claim-free year that they complete. By looking at the market it is possible to compare the companies that offer discounts for factors such as advanced driving tests to see if there are any providers that might suit you.
Just like any high risk financial market, because premiums are high, there is money to be made from the young person's car insurance market and so some specialist insurers actively pursue that business. Those insurers are constantly looking for ways to make young drivers car insurance more accessible and tailor the cover and benefits to that specific market.
Young Persons' Car Insurance Top Tips
- Standard car insurers may seem prohibitively expensive for young drivers so a wide search of the specialist market is a good idea
- Don't be tempted to get your parents to insure your car and then be a named driver. This may make your insurance void when you really need it.
- Building up a no-claims history will pay off in the end even though the insurance is expensive to start with
- Avoid cars that would be expensive for anyone to insure if you need to keep your premiums down
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- 50% off top level breakdown cover when you add it to your Tesco Car Insurance quote 26 Oct 2009 | Read More ›
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- Free £40 Tesco Voucher when you buy Tesco Car Insurance 23 Sep 2009
- Free breakdown cover with Churchill Car Insurance 25 Jun 2009
- Free Karcher Pressure Washer when you buy Tesco Car Insurance 29 May 2009
