Because young people are statistically more likely to have accidents than
older drivers, their insurance costs tend to be higher across the board
As a general rule of thumb, if a young person uses a car to drive to or
from work, school or college on a daily basis, for insurance purposes they
should be named as the main driver of the vehicle.
Consider a young drivers insurance scheme
Young drivers insurance schemes - sometimes referred to as pay as you go,
‘black box’ or telematics insurance policies - are products specifically
designed to help cut the cost of cover for under-21s.
All insurance policies are priced in line with risk. This means the company
you buy cover from will assess how likely they think you are to make a claim,
and will then charge you an appropriate price for your cover. Because young
people are statistically more likely to have accidents than older drivers,
their insurance costs tend to be higher across the board.
Young drivers insurance schemes use recording devices to gather extra
information about when, and how well, individual customers are driving their
cars - with a view to assessing their likelihood of claiming more accurately
and offering them more personalised car insurance premiums.
Telematics insurance schemes for young people often result in good savings,
provided driving habits and style
suggest you are less likely to make a claim. However, if an individual
isn’t as safe a driver as they believe, they’re unlikely to see their insurance
premium decrease and could even drive it up.
It pays to shop around for a young drivers insurance product, as many
mainstream insurers now offer them. Find out more about black box insurance and
compare deals using our car insurance comparison tool.
Drive safely and stay within the law
Finally, once you’re insured and on the road, the simplest way you can help
to reduce your future car insurance costs is to drive safely and stick to the
rules of the road.
If you’re able to avoid convictions for driving offences and can build up a
no-claims history, you’ll help to show that you’re a sensible driver who is
less likely to need an insurance pay out - and, over time, this is the single
easiest way to stay on top of the cost of car insurance
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