Young People Car Insurance
Insuring a car for young people can get really expensive because of the high premiums insurance companies bestow on them. To every car insurance company, every young driver is seen as a liability, therefore, no matter whether he’s a good driver or not. Here are a couple of tips and tricks to reduce insurance premiums.
First of all you should reduce your risk. Each insurance company will treat a customer as an individual and will also evaluate their premiums in line with the frequency of their possible claims. Basically, the higher risk of you getting involved in an accident, the higher premium you will have.
Unfortunately statistics stand against young drivers. It is considered that one out of five young drivers is involved in an accident during their first year of driving. Also it is said that young drivers have a 10 times bigger chance of getting involved into a serious accident compared to an experienced driver. One way of proving your experience and reducing the chance an insurer will see you as a liability, is to get in a Pass Plus course. Pass Plus is a special course that enhances the driver’s experience by putting them through different driving conditions such as rural roads, motorways and traffic jams. This course usually costs somewhere around 150 pounds, but completing one could diminish the insurance premium by a lot more. As a onetime expense, it is definitely worth it.
Improving your car’s security could definitely make a difference. Everything you do that might reduce the chance your car will be stolen or damaged will make a difference in the costs of placing it under insurance. An anti theft system, a car alarm, or any kind of immobilizer will definitely draw the insurance premium down. Even parking the car in a garage, or a driveway can make a difference.
Another step is choosing the proper car. If you’re on the market for a vehicle, you should be careful with what you purchase. Flashy cars with big engines or sporty looks will always cost more to insure, since they are prone to car theft. A family car, a simple sedan or a common coupe is less likely to attract attention.
When you’re getting an insurance policy, have a parent with you (that is an experienced driver) and place him as the “named driver” on the insurance policy. This will definitely decrease the premium because the insurance company will assume that, most of the time he will be driving the car, thus reducing the chances of a collision.
On the other hand, “fronting” could be potentially dangerous. The main idea is, if the car you’re driving is your car and has your names on the paper then you should not place anyone else as the “named driver”. Although it might seem very tempting, fronting is considered a very serious insurance fraud. If anything goes wrong and the insurance company catches on, you could be in loads of trouble. The insurance company can consider it as insurance fraud and nullify your policy, therefore no claim will be answered, not to mention that you (and the parent, placed as “named”) could be prosecuted.
Another tempting idea is to make some modifications to a newly purchased car. Although it may give the car a more “underground” look, you should try to stay away from tuning operations. Even if the modifications have nothing to do with power or speed, bodywork chances could be seen as a liability.
And finally, consider getting fire and theft cover. What you pay here, could be easily deducted from the premium.
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