Learning to drive is a breeze for some and a mountain for many but either way once you’ve passed your test, you’ll be eager to be out on the road. However, this presents a host of new challenges, primarily affording your vehicle and insurance.
Small savings can make a big difference with how soon you can be behind the wheel of your own car, so try these tips to lower your insurance costs to speed you along.
- Choose the right car
The type of car you have can significantly impact the price of your insurance. Several factors are considered:
- Age: New cars are more valuable and therefore have the potential for higher payouts for repairs and write-offs.
- Performance: Cars made to be driven at speed in testing conditions, like sports cars, are considered higher risk for accidents. High-performance elements of standard vehicles like large engines also increase premiums.
- Repair costs: Older, luxury or specialised electric cars that will cost more to maintain usually have correspondingly higher insurance charges.
- Theft risk: The most stolen car models in the UK sometimes cost more to insure because of the higher likelihood of theft.
Opting for a reliable used car that has been well-cared for is a good strategy for young drivers looking to keep their car insurance charges to a minimum. Check the mileage, interior conditions and bodywork, and service logbook entries.
- Look into specialist policies
Some providers offer specialist policies for first-time drivers. For example, if you’re a young adult you could benefit from young drivers’ insurance which provides cost-effective cover in comparison to standard policies which penalise drivers aged 17-24 as they’re statistically more likely to have an accident.
In addition to specialist policies, you’ll find a selection of levels of cover available as you browse. Look for those that offer what you need for the best value and consider organising add-ons such as breakdown cover separately if it’s cheaper.
- Build your no-claims discount
How you drive once you’re on the road can significantly influence the cost of your future car insurance. Even if the price for the first twelve months is steep, careful driving that avoids you making any claims in your early years of vehicle ownership will build-up a no-claims discount that applies to future policies.
As well as being a legal requirement, maintaining continuous car insurance cover can contribute towards building a no-claims discount. Ensure cover lasts 12 months to 12 months with no gaps between the start and end dates of policies.
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