Lack of discount car insurance for young drivers can cripple

The inability to find discount car insurance for young drivers can be crippling, especially since the cheapest quotes younger motorists can find are often more expensive than a used car in and of itself.

The average car insurance rates quoted to newly qualified motorists is an eye-watering £3,000, according to one industry expert, leading to an overwhelming 75 per cent of younger drivers to agree to taking extra driver training if it made their motor car insurance easier to afford.  Luckily for them, taking such additional training can sometimes benefit to the tune of £450 less having to be paid every year for the average young motorist, but there are several other ways for drivers between the ages of 17 and 24 can cut their motoring costs.

One way to reduce premium costs is by increasing your voluntary excess.  While this can be risky, as raising your excess to levels that would be unsustainable in the event of an accident would be a false economy, increasing excess slightly could be beneficial, with the average motorist saving around £277 a year as a result.

Other ways to save include investigating the type of cover you need.  While comprehensive cover may be more expensive than third party fire and theft cover, usually the difference is completely marginal, which means that the best value for money would be to go with a comprehensive insurance policy that offers you much more than the stripped-down third party alternative – but keep in mind that ‘comprehensive’ from one insurer doesn’t mean that the same policy from a competitor will have the same exact benefits, so do your research before making a final decision.

Another excellent way to save cash is to leave off with modifying your vehicle in substantial ways.  While some insurance companies may not be bothered by you replacing factory wheels and adding alloy ones instead, upgrading your vehicle could make it a bigger target for thieves – and could lead to increased premiums as a result of the heightened risk.

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