The cost of car insurance for a first-time driver is usually expensive compared to an experienced one. And if you find yourself to be on the side of a first-time driver, be sure to know that your insurance premium will be on the high side.
First-time driver insurance average cost in the UK for ages between 17 to 20 is about £1,800 every year while 21 to 25 cost an average of £1,000.
Get ready to know the reasons why first-time drivers’ insurance policies are higher than experienced ones.
Why is First-Time Drivers Insurance Expensive?
First-time drivers’ average cost in the UK tends to be more expensive because they are considered to be high risked drivers.
Statistics have shown that about 23% of new drivers get involved in road accidents in their two years of driving. This is caused by too much morale, lack of experience usage of cell phones, playing loud music which can cause a lack of concentration and others.
This is the major reason why first-time drivers are charged a higher premium rate as insurance companies use the levels of risk to calculate your premium which would be used for compensation when there is a need for it.
Ways to Lower the Rate of Your Driver Insurance Premium
Lowering your premium is one great way of saving money. The cost that comes with owning a car can be very high and most first-time drivers are low-income drivers as most of them are between ages 17 to 20. In this case, they are considered too young to bear the burden of finance.
Here are the following ways to reduce the cost of your premium:
Black Box Insurance
This insurance policy can be otherwise called telematics. It is one way to reduce your insurance premium as a first-time driver.
The Black box insurance monitors your driving to determine how a careful driver you are. If you do not mind being monitored you sure can opt for this policy.
Although, there is the negative side of this policy as you would be strictly monitored by your insurance provider through GPS using either a black box, plug, and drive, or a mobile app. This way if you are caught driving recklessly your insurance premiums will keep rising.
Factors that can bring rise to your insurance premiums are:
- Driving at night.
- Taking more time on the road.
- Driving on an extremely busy highway.
Hence, it is advised that you are sure of how you drive before going for this insurance policy. You can save an average of £800 as a first-time driver (age 17 to 19) and £400 as a driver new driver ( age of 20 to 24).
Buy Less Powerful Cars
Before your insurance provider provides you with your insurance premiums a random check on your vehicle will be taken to determine the cost of repair when the vehicle gets damaged by an accident or other ways as insurance companies these details to know the rate of premium to be given to you.
Usually, less powerful cars parts are usually cheap hence you are likely to get a low premium rate.
A less powerful car also has a low risk of theft as it is usually not attractive for thieves. This results in you getting a low premium rate for your vehicle.
Put in a Named Insurance Driver
When opting for a low insurance premium you can add a more experienced driver to your insurance policy.
Experience drivers are considered to be low risked drivers and putting in their name to your insurance policy shows that you wouldn’t be the only person to use the car this way your insurance premium will be reduced.
Get a Safe Car Park
Your insurance provider will request details concerning the area where your car would be parked every day. If a safe place like a secured garage or driveway is where your car would be kept you are likely to get a lower premium rate.
If you live in a high risked area or a wild part of the country where vandalism is the order of the day your insurance provider will investigate using your postcode to determine the type of premium you would be given. In this case, it is usually high as your car is considered to be in a high-risk environment.
Drive Fewer Miles
The longer you drive the higher your premium rate. Driving long miles is considered by your insurance provider to be risky as you are likely to get involved in an accident when driving long miles which can cause you to get a high premium policy.
To avoid it try driving shorter miles. You can achieve that by cycling if there is a need to and taking public transport.
How Long Will it take to Reduce my Driver Insurance Cost?
Getting your insurance cost reduced takes time. Usually, if you have driven your car for 3 years without an insurance claim you are on your way to having a lower rate of insurance. First-time driver insurance average cost can be quite expensive but it wouldn’t be forever.
As time goes on, you would likely graduate from a first-time driver to an experienced one, this is another way your car insurance rate gets lowered.
Conclusion
First-time drivers insurance average cost in the UK is expensive but there are ways you can beat the price. If you read through this article, you must have learned the ways to reduce your insurance premiums as a first-time driver.
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