September 21, 2018

The expense of young drivers’ insurance

 For every young driver insurance is practically unaffordable.  Cheap car insurance quotes have rocketed so high in recent years that a newly-licenced 17-year-old is realistically looking at paying more than £1,500 to insure their car and it doesn’t look like changing anytime soon.

There are many factors that contribute to the high levels of insurance that young drivers have to contend with and, unfortunately, individual drivers don’t have much control over them. The rise in claims resulting from accidents has risen rapidly in recent years, which has led insurers to bump up premiums to counterbalance what they have to pay out. This means that some drivers have to pay the price, literally, for the reckless driving and insurance claims of others.

The main reason why insurance premiums are so high is that insurers see young drivers as high-risk drivers. Accident statistics have shown that drivers aged between 18 and 25 are involved in more crashes than any other age group. The only way a young driver can really lower their car-insurance premium is by not becoming part of those accident statistics and driving safely. For every year a driver goes without making a claim, their insurance premiums will tumble that little bit further.

It is worth every driver checking over numerous policies to guarantee that they are getting the best deal for them because there can be significant differences between insurance companies. Once you get a quote to renew your policy and you’ve made no claims in your last 12 months, you have a short period in which you can change or cancel it, so make sure you compare it against other policies (get quotes on comparison sites) to bag yourself the best deal for your money.

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