Being a new driver is a scary experience… insuring a new driver is even scarier. With The Telegraph stating that the average price for insuring a 17 year old driver being £2232, it’ll take a lot of extra hours to start saving up for insurance alone, without even thinking about money for the car. So how can you start cutting down on that price and get something a little more manageable?
- Get a Black Box
A black box can be a godsend when it comes to new drivers. They note the specifics of your driving – mileage, time of day and your braking ability to name just a few – and, if you’re a good driver, this should begin to lower your premium. The better the driver you are, the less you tend to pay… it makes sense, really! However, if you’re not confident in your abilities or have a tendency to make errors then it might be worth looking elsewhere – poor driving has the potential to increase your insurance.
- Think About How Often You Need the Car
If you’re getting insured onto someone else’s car, such as a parent’s, then you might not need to be insured all year round. A good way to cut down on the annual price you could be paying is by getting insured for when you need to be insured. If you’re driving away for a weekend or have a lot planned one week, then get insured for that alone. You’ll keep topping up your experience but also won’t be paying out of pocket for unnecessary times of year. Keep an eye out for companies who specialise in temporary car insurance for young drivers and you could be onto a winner.
- Think Logically About Your Car
An easy thing to do when you’ve just passed your test and you’re excited is to go and buy a car right away. Not everyone has the money to buy a brand new car right away and this frustration can lead to panic buying. However, buying a cheap car, although it might seem like a good idea at the time, can lead to you paying more in the long run. The less reliable and older the car, the more you generally end up paying for insurance. The best way to go about it is either saving up for a car you know is efficient or paying monthly, although you will have to include the interest in the price.
- Research Different Insurers
In a similar way to buying a car, purchasing the first reasonable insurance that you come across might seem like best option. However, when it comes to insuring your car, make sure that you don’t act in haste – it could end up costing you a lot of extra money.
- Diesel vs Petrol
The debate of which is better is unlikely to get settled anytime soon… but there is a cheaper option when it comes to insurance. Although diesel has many advocates, Money Expert states that a diesel car could end up costing 10-15% more to insure than that of the petrol variety. Despite diesel having other benefits, it could be worth considering when you’re looking into a car to insure.