When it comes to car insurance, young drivers need all the help they can get and some companies are suggesting they adopt a disciplined approach to their motoring.
The backdrop is a recognition that the costs for young drivers car insurance could be about to rocket, as new personal injury laws are introduced. These new laws, brought about because of the change in the Ogden rate which calculates how much victims get following a lifelong injury, could mean a £1,200 hike for some young drivers.
So, to help youngsters prepare for the worse, a number of advice tips are doing the rounds at the moment and the key points are highlighted below:
- Downsize the car
Not always easy to do admittedly, but it makes sense that if you have an expensive car, or one that is considered sporty, or has been modified in some way, then your premiums will be higher. Drivers often need to be remined that car insurance is based on how much the car costs to replace should it be damaged, or stolen. Generally, the older the car and the smaller in terms of body and engine size, the cheaper it will cost to put right.
- Up the security
It’s amazing how many people will spend money on making their car look better, yet forget basics such as security. Make it harder for it to be stolen and this could merit a discount from the car insurance company.
- The black box trend
Some regard it as a spy in the car and it does track your driving style, telling the provider of the black box – the insurance company – your driving style and how many miles you are covering. Behave yourself and having this on board could save you up to 20% on your premium.
- The sober parent
Name a parent on your policy and the car insurance company could view it as a good thing, because the parent might be using it occasionally and should be a more experienced and careful driver.
- Shop around
There are so many companies providing car insurance policies, that getting the right coverage is far easier than before, but you have to be patient and shop around. And you have to create a policy that suits you and one that could save you some money.