How can young drivers save money on their car insurance?

If you are a young driver and work in the media, you might find yourself wondering how you can save money on your car insurance. Young or inexperienced drivers are statistically more likely to have an accident. Media professionals also have additional risks attached to them, which all combine to drive up your overall insurance premium. This means that finding cheap car insurance if you are young media professional can often feel like a game you aren’t going to win.

However, there are a few tips to follow that could help you reduce the amount you pay.

Carefully consider your car choice

You may want a powerful high-end car, but please find out the insurance cost before you sign on the dotted line. Cars are divided into 50 levels of insurance groups and the cheapest cars to insure for new drivers are in groups one to five. Now, while those cars might not suit your lifestyle, they might suit your wallet. If you are looking at a car in a higher grouping, you might want to consider our next money-saving tip …

Consider having a black box (Telematics box) fitted to your car

A telematics box or black box as they are sometimes known. Box monitors can help young and inexperienced drivers save money on car insurance because they give the insurance company a real-time idea of your driving capability. In simple terms, they work by continually sending data on your driving style back to your insurance company. This data can include how fast you drive, and the time of day or night you are driving. With this information insurance companies apply simple logic – Drive well, pay less or drive poorly and feel the penalty. Some insurers will also offer exclusive schemes with significant discounts for young drivers happy to have a box monitor fitted.

Avoid modified or modifying your clarifications

Though personalising the look of your car might seem like a great idea, it can impact how much you pay for your car insurance. Modifications such as alloy wheels and body kits can add hundreds of pounds to the cost of cover. If you really want to personalise your car, a private plate won’t increase your premium.

Consider the excess on your insurance policy

The excess is the amount of money that you would contribute towards the cost of a repair should you have an accident. There are two types of excess, compulsory and voluntary. Compulsory excess is specified by your insurance company. However, voluntary excess is determined by you. Voluntary excess is where you agree to contribute more towards a claim if you have one, in exchange, the overall cost of your insurance can come down. Be mindful though, only agree to pay what you would be able to afford in the event of an accident. Alternatively, you can look into getting excess protection cover to help you cover this cost if you were to have an accident.

Consider the cover you need

Comprehensive cover is normally the most expensive type of car insurance as the name suggests, it is the most comprehensive level of cover because it will provide you with the highest level of protection. As the premier league of car insurance, it will cover you for both your car and other people’s vehicles if you have an accident. In the event of an accident Third Party Fire and Theft only covers the cost of repairing or replacing the other person’s car, but not your own. Third-party insurance cover is the required legal minimum and covers claims against you if you’re involved in an accident and injure someone. It also covers the cost of repairing or replacing the other person’s car, but not your own.

If you are a young media professionals struggling to save money on your car insurance, check out the All  Media Insurance exclusive young drivers scheme. It’s packed with special features and discounts to save you money and isn’t available anywhere else online.

 

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