Young drivers' car insurance can be an expensive obstacle to getting on the road. Tiger.co.uk can help!Get A Car Quote Retrieve A Quote
Passing a driving test and getting a first car are big milestones in a young driver’s life as they signal the arrival of a new kind of independence. But sky high insurance premiums can be a major obstacle when it comes to actually getting on the road.
At Tiger.co.uk we know that finding cheap motor insurance for young drivers can be a struggle, as young motorists have been experiencing significant increases in insurance premiums.
With the price of car insurance steadily rising, the financial strain placed upon young drivers to get insurance for their vehicles is becoming more of a burden than it has been in past years. Young drivers' insurance is usually considerably more expensive than insurance for other driver groups and the reasons for this are explained below.
As with all car insurance, in order to calculate premiums insurance providers need to evaluate the likelihood that a driver will make a claim. The greater the risk, the higher the premium. Younger drivers generally present a bigger risk to insurance providers as, statistically, they are more likely to be involved in accidents. Consider this statistical information from the Driving Standards Agency:
All of this has an implication on the cost of car insurance for younger drivers. Put simply, insurance providers pay out more on policies that are held by younger drivers and, therefore, they charge this group of drivers more for their car insurance.
However, Tiger.co.uk is here to help. We have a large list of insurers on our panel, many of which specialise in young drivers' insurance.
For many young drivers a great way of getting cheaper car insurance is to consider telematics-based insurance. Telematics insurance (sometimes known as “black box insurance” or “pay as you drive insurance”) requires a small device that is about the size of a mobile phone to be installed behind a cars dashboard. This will record a range of driving information such as what time of day the vehicle is driven, how fast it is driven, how quickly the driver accelerates and decelerates and the distance driven. Premiums are often set based on risk factors that include specific criteria, such as not driving at night or limited mileage and when it comes to renewal, premiums may be adjusted depending on the safety of the policyholder's driving.
One of the most important factors for the price of car insurance for all motorists, not just young drivers, is the type of insurance cover chosen. Many young drivers opt for one of the lowest levels of cover, Third Party, Fire & Theft, often assuming that this will be the cheapest.
Third Party Fire & Theft provides cover for fire and theft claims but only covers damage to third party vehicles and property and does not cover any damage to the owner's vehicle in the event of an accident. Fully Comprehensive insurance, on the other hand, protects the owner's car and property as well as that of the third party.
However it may be useful to know that Third Party, Fire & Theft cover is not always cheaper than Fully Comprehensive cover and it is always worth comparing the prices of each - look at all insurance policy types available before making a decision.
There are many things young drivers can do to make their insurance cheaper. A few of them are listed here. More ways to save can be found in our Young Drivers Insurance Guide:
We hope that with our advice, young drivers will be better placed to find the right level of car insurance at an affordable price. To get a young driver car insurance quote, simply click the "Get A Quote Today" button below.