As many young people may know, the price of car insurance at the moment is simply through the roof and for the majority of people is completely unreasonable. This is a problem for anyone who is learning to drive and is looking to take out their first years car insurance. While you may think you are a good driver and do not deserve the high insurance premiums, statistics say otherwise. It has been proven that the most dangerous age group on the road is young people between the ages of 17-25; and this is reflected in the insurance premiums.
While there is no actual way to get car insurance cheaply, there are ways to keep the costs down to make it as affordable as possible. The first of these is the car you are driving. Cars are classed in different insurance groups, depending upon engine size, speed and many other factors. The lower the insurance group is, the lower the insurance premium is; so getting a car with a 1000 cc engine would be a lot cheaper to insure than a car with 1600cc. Having a slower car may not be the ideal solution for everyone, but it is the one that is the most affordable.
Car insurance also comes in 3 different types. There is fully comprehensive, third part fire and theft and third party only. Fully comprehensive insurance means that in the event of a crash the insurance company will pay out to cover the costs of every different party involved, which in a general case means you and the person that you crash into. This is the most expensive form of insurance as in the event of a crash the insurance company will need to pay more out. Third party fire and theft means that in the event of a crash your own car is not covered, only the third party vehicles which are involved. Also this type of cover will cover your car if it is stolen or fire damaged. Because the insurance company is not paying for your own car, this form of insurance is cheaper.
Another little trick which you can use is to add a named driver to the policy. For example, a 40 year old woman with full no claims bonus. It might sound like something that is a but far-fetched, however for me this brought my premiums down by around Â£600.
Something which some people do with car insurance to make it cheaper is called fronting and is highly illegal. This is when a policy is taken out in someone else’s name with them declared as the main driver, and then the actual driver would just be a named driver. This makes the premiums cheaper but if you were to crash the car and the insurance company found out that you are the main driver, they would not cover you and you would have to pay for everything yourself, which is a huge amount more than paying for insurance properly.