Car insurance for young drivers has often been significantly higher than other drivers’ premiums but the latest average figure may scare young people from taking to the roads
(PRWEB UK) 30 July 2012
Online comparison experts at Cost are renowned for sourcing their customers the best deals across all insurance, monetary, travel and insurance matters. The team at Cost also produce an array of information by way of guides and tip sheets, helping their users to make an informed decision on their important affairs.
The latest advice is about insurance for young drivers after the average cost soared to £1034 this week, with young drivers hit worst with premiums increasing to £2792 (according to AA’s British Insurance Premium Index).
Cost’s insurance expert shares his view:
“Car insurance for young drivers has often been significantly higher than other drivers’ premiums but the latest average figure may scare young people from taking to the roads. However there are ways to reduce your premium cost, here are just a few”.
- Add a second driver: Sometimes adding a second driver to your insurance policy can reduce the premium, even if they will not be using the car often. Adding someone who’s in a lower risk category (with a good driving record for example), will reduce your premium in most cases.
Do NOT insure this person as the main driver though as this is called ‘Fronting’ and it is illegal!
- Avoid modification: Tempting as it may be for young drivers, avoid modifying your car (added security is usually the only exception) as this will increase your premium.
However, if your car is modified (even if you bought it this way) you must declare this at the start as failure to do this may result in an invalid policy.
- Multi-car policies: Some providers will offer discounted insurance if you insure all the cars in one household together.
Comparison websites may not be able to compare this insurance method so use them first for each car separately, then look at a multi-car insurance provider in order to make a better decision to save the most money possible.
- Tell your insurer about special circumstances: If you believe you will be using your car in a different way from most people (driving hundreds of thousands of miles a year, driving a highly modified car etc) tell your insurance provider. Failure to do so may mean that your policy is invalid when you attempt to make a claim.
Always check with your insurer about special circumstances before you agree to a policy.
Cost acknowledges the importance of keeping up to date with the latest industry developments so they also provide their users with the most recent news bulletins.
Based in Essex, Cost is one of the UK’s leading price comparison sites. Allowing their online customers access to companies offering a range of insurance, financial and travel services, the firm specialise in providing a personal experience. Founded in 2012, the agency has a trusted reputation for sourcing the most ideal policies at affordable prices