Are you a new driver looking to get car insurance and are wondering why all the high-priced plans seem to specifically target ‘you’?
Are you also wondering if it’s anyway possible to find a rate you could easily afford?
We’re happy to inform you that it is!
That’s why in this post, we shall take you through;
- The average cost of car insurance for new drivers in the UK,
- Reasons for the cost,
And how to tune the system to your beat a little, by;
- Getting an affordable insurance plan as a new driver.
Follow closely for details.
Average Car Insurance Cost for New Drivers.
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Along with statistics, research carried out by insurance markets such as MoneySuperMarket shows that car insurance totals a cost ranging from £1500 to £2000 per year for new drivers. 17-year-old drivers are usually charged at the highest end of this range.
This is certainly more expensive than the cost of car insurance for older drivers which ranges from £430-£550 on average.
This difference, however, is mainly due to the fact that new drivers lack enough driving experience. As such, they are considered more likely to get involved in accidents by insurers. Hence, they are charged more to cover up for this risk.
Reasons for High Cost of Insurance for New Drivers.
Apart from the inexperience of new drivers, there are other reasons for the high insurance cost for new drivers. Reasons include:
- Age: Age is one of the biggest factors that influence the cost of car insurance. According to available data from co. UK, young drivers from age 17-20 are charged the highest at a rate of £851 with slightly lower rates for 25 yr. olds and older. New drivers around older should however still expect higher charges due to their inexperience with driving.
- Type of Cover: Ordinarily one would expect the cost of getting the third-party only policy to be cheaper than that of a comprehensive car insurance plan. This is, however, not so. Referring back to research carried out by MoneySuperMarket shows the cost of getting a third-party is way higher in price than the comprehensive insurance plan. This is done by insurers to cut down on the initial trends among new drivers choosing a third-party policy for budget costs without thinking.
Also, Read >>> Property Insurance Explained 2022
- Gender: Most insurers view new male drivers as potentially high-risk customers than their female counterparts due to various reasons. For instance, younger-aged male drivers are observed to usually engage in more daring adventures due to their virile nature.
Together with the reasons mentioned above, other factors also play a role in the cost of your getting affordable car insurance as a new driver in the UK. Some of these are your location (where you live—if it’s an accident-prone area or not), your occupation, and also, the type of car you drive. All of these contribute to determining how much risk you are exposed to as a driver. Hence they each influence the premium your insurer will require you to pay to be adequately covered.
Ways to Get Affordable Car Insurance in the UK as a New Driver.
There are proven measures you can take on as a new driver to lower the potential cost of your car insurance. Some of these measures to consider include:
Add Safety Features to Car
Availability of theft & accident-proof features such as alarms, trackers, air-bag, etc., will render your car safer and as such attract a lower cost of the premium from an insurance company.
Get Black Box Insurance –
Black box insurance, also known as telematics, is a policy that involves the insurance company charging you based on how you drive. Monitors put in place in your car inform the insurer about your driving. As such, careful drivers are charged lower premiums.
Take an advanced driving course
Taking certain important additional driving lessons even after your license and finishing with those will influence your insurer into charging you at a lower premium rate.
Add a named driver
Adding an experienced driver to your policy(as a secondary driver) will help you save up on costs.
Choose your car insurance excess
You can easily lower your cost of the premium by increasing the amount of excess you’d be willing to pay first from your pocket whenever you make a claim. You should however take note to include an excess you can easily afford to pay.
Consider cutting down on car type –
The type of car you insure majorly affects the increase or decrease in the price of insurance. Higher-end motors are more expensive to maintain and so attract a higher premium.
Compare quotes of different insurers –
You can compare price quotes from different insurance companies by making use of comparison sites such as;
These sites will allow you easily compare prices online and you get to choose the plan that you can best afford. However, be careful to check the details of whatever coverage you are paying for. This is to prevent you from falling into the budget trap by choosing a low-value cheap plan.
Read our article on How to Get the Best Cheap Car Insurance (All You Ever Need to Know) to know more about getting affordable car insurance for the best value.
Concluding Note:
New drivers should be aware that the price of their car insurance will eventually drop as years passes by. Prices may drop considerably due to your driving experience and maturing age.
Lastly, it is very important that you maintain a clean driving record along the line as this will go a long way to lowering your premium.
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