Cheaper car insurance for young drivers : Young drivers are statistically more likely to have a traffic accident and file a claim, so the price of insurance can often be exorbitant. Getting cheap car insurance for young people may seem like an impossible task, but there are many factors that can help you get a low premium price.
Finding cheap car insurance for young drivers is unfortunately a complicated task. This is due to the fact that most of the companies are wary of insuring them, mainly because of the high loss ratio that falls on this group. However, if you use an insurance comparative you will be able to know in just seconds what insurers would be willing to cover you, including a detailed analysis of coverage and prices. We have done part of the work and we have analyzed the car insurance for young people that you can find in the market.
1. Choose a cheap car to ensure
When searching for your first car, the cost of car insurance is often an important factor in the buying process. All the cars in the market belong to a group and are cataloged by the insurance companies for the risk, so it is necessary to choose a cheap car to ensure couple to advise cheap car insurance for young people.
2. Stay away from modifications in the car
Modifications to cars, such as alloy wheels and ailerons, often attract young drivers who want to customize mid-range cars. However, avoid them if you want to get a cheap car insurance for young people, since these modifications can greatly increase the insurance premium.
3. Being discharged as an additional driver in the insurance
One of the best ways to get cheap car insurance for young people is to register the insurance on behalf of an older person and include the young person as an additional driver. You will get better prices and be covered by all your coverage but on the other hand the insurance will not be in your name and you will not get bonuses, so when you put the insurance in your name you will have to pay a higher price.
4. Pay per year, not per month
With a high insurance premium it can be tempting for young drivers to stagger payments instead of paying it in one go. It is usually much cheaper to pay all year round at once, since you will avoid charging monthly interest and save a substantial amount.
5. Consider increasing the franchise
If you want to take out all-risk insurance with a franchise, increasing this will make you pay less for car insurance for young people. That if, in the case of having sinister you will have to pay the franchise for each part you give, but otherwise you will save a lot of money and you will be protected.
6. Think about the level of coverage you need
Fully comprehensive insurance is usually the most expensive type of car insurance and covers both your car and other vehicles if you have an accident. Third party insurance is the lowest level of coverage and covers civil liability and the repair of the other vehicle in case of an accident. It is important to know the type of coverage to hire to not pay more for the insurance of your car and have all the protection you need. Here are the types of coverage for car insurance.
7. … But do not hire third party insurance directly for being cheaper
It is worth comparing different levels of coverage in different insurers before hiring your car insurance. Sometimes third party coverage, fire, moons and theft in an insurer is more expensive than full risk coverage with franchise in another, so it is important to use an insurance comparative.
8. Increase safety and limit risk
The addition of extra security features to the car, such as an alarm or immobilizer, can often help you get cheap car insurance for young people. Car insurance can be cheaper even if you also park your car in a garage or instead of leaving it on the street, as insurers see this as an additional way to minimize risk.
What insurers offer specific insurance for young people?
Among the companies that operate in the car industry there are those who offer young people a specific product, designed especially for them. But also who promises to adjust the price of their policies to young people, offering them the same guarantees, such as AXA with its FlexiRapid product. These are some of the insurance for young people that you can find in the market.
Uncommon tricks: not appear or appear as an occasional driver in the insurance
There are other ways to lower the car insurance for a young and novice driver, but they are not recommended. One of them is that the young and novel driver does not appear anywhere in the policy and, nevertheless, drivesthe vehicle insured by this. That is possible if a relative is placed as the insurance holder and driver of the car without really being.
Since the owner is a veteran driver, the insurance will be cheaper but this trick has its counterparts. One of them is that by not appearing as a regular driver you will not enjoy bonuses for good driving, so in the future, any other insurance will be more expensive. Another drawback is that if you suffer an accident, this will fall on your family member’s accident history. The young person benefits from a lower price, but hurts others.
Keep in mind that insurance contracts make it clear that the actual driver of the vehicle must be declared. The insurer can interpret that concealment as bad faith and make the policy void. Thus, the accident bill will be fully borne by the driver.
Another trick is that the young person appears as an occasional driver in the policy and, nevertheless, drives the vehicle with assiduity. Many companies already apply an extra cost to these situations, as a way to penalize them. The insurance will be cheaper than if you appear as a driver, but they are the same disadvantages as in the previous trick.
If you can not get insurance, go to the Insurance Compensation Consortium
The law requires us to have insurance to drive a vehicle, but what if no company wants to insure us? It’s in your right. You must have insurance, but she is not obligated to give you coverage. To solve this conflict, there is the Insurance Compensation Consortium, which depends on the State. To make this claim, we must prove that we have previously requested the insurance of the mandatory subscription car to at least two entities and that they have denied it.
However, the Consortium only offers compulsory insurance, which includes Civil Liability, that is, the minimum essential coverage. It does not contemplate, therefore, the theft coverage, fire, moons, repair loan, withdrawal of driving license, large damages, own damages, replacement vehicle, travel assistance, legal defense, driver insurance, etc., which are common in any insurance company.