How Much Is Car Insurance For A New Driver?
Buckle up, new drivers.
You’re officially licensed, and eager to start your journey on the wide-open road. Yet, a single hurdle lies ahead – car insurance.
You might be asking yourself:
“Just how expensive is car insurance going to be?”
Fear not. We’re here to guide you through this unfamiliar territory.
In this piece, we’ll decode why higher car insurance premiums often burden new drivers.
But even better, we’ll divulge some industry secrets on how you can chip away at these expenses.
So, without further ado, let’s get started!”
Why Is Car Insurance Expensive For New Drivers?
Here’s the thing:
Insurance is all about calculating risk.
As a newcomer to driving, you’re a mystery, an uncharted variable. Insurance companies don’t have any data on your driving safety.
That’s the reason behind new drivers usually facing higher premiums.
Insurance providers infer, “A lack of experience could lead to more errors.”
And more errors potentially lead to more mishaps. More mishaps? You’ve hit the nail on the head – increased claims.
But there’s a silver lining:
There exist methods to bring down your insurance expenses right off the bat.
What’s more, as you accrue experience and uphold an unblemished driving record, those costs will inevitably begin to reduce
Choosing the Right Car
So, you’re in the market for your first car?
In the world of car insurance, smaller often equals cheaper.
Smaller, less powerful cars are cheaper to repair, less likely to be involved in serious accidents, and less attractive to thieves.
That’s why they’re often cheaper to insure.
Need some inspiration on which cars fall into this category?
Our guide to the 10 cheapest cars to insure in 2023 is a great place to start.
How Can Black Box Insurance Help?
Here’s something you might not have heard about:
Black box insurance.
Sounds intriguing, right?
Black box insurance, or telematics insurance, uses a little device installed in your car to monitor your driving habits.
It’s like having a backseat driver who’s on your side.
This tiny device keeps an eye on how you drive.
Your speed. The time of day you’re on the road. How you brake and corner.
All this data adds up to a profile of your driving habits.
And here’s where it gets interesting:
If you’re a safe, responsible driver, black box insurance could significantly lower your insurance premiums.
Sounds good, doesn’t it?
For more details, check out our comprehensive guide to telematics car insurance.
And that’s just the tip of the iceberg.
Stay tuned for the next part of this article.
We’ve got even more savvy tips and tricks to help you slash those insurance costs.
Fasten your seatbelts – the journey to affordable car insurance is just getting started!
Add An Experienced Driver To Policy
Ready for another pro-tip?
Adding an experienced driver to your policy.
Now, you might be thinking, “Why would I want to do that?”
Let’s break it down.
Adding a seasoned driver (like a parent) to your policy can bring down your premiums.
Insurance companies see this as lowering the risk.
This experienced driver should be an occasional user of your car.
Don’t try to fool the insurance company by saying they’re the main driver. That’s called “fronting,” and it’s illegal.
For more information, check out our post on tips for young drivers.
Increase Your Excess To Reduce Car Insurance
How about we talk about the excess?
It’s a bit of a gamble, but it might just pay off.
When you agree to increase your excess, you’re essentially taking on more risk.
But wait, there’s more.
By agreeing to a higher excess, you’re telling your insurer, “I trust myself. I won’t make a claim.”
And the insurer thinks, “Okay, lower premiums it is.”
You’ll find more about this in our 5 ways to save money post.
Using A Comparison Site
And now, the big one.
Using a comparison site.
There’s a whole world of insurers out there, each offering slightly different policies at different prices.
How are you supposed to navigate that?
Simple. Use a comparison site like ours at Cheap Car Insurance.
We do the hard work for you, bringing you the best deals that fit your needs.
Storing Your Car Safely
Last but not least, let’s talk about where you keep your car.
Did you know that just by parking in a secure location, you could save money on your insurance?
If you park in a locked garage or even a private driveway, insurers could view your car as less of a risk of theft or damage.
Fewer risks mean lower premiums.
So, consider where you park your car overnight. It could make a more significant difference than you think.
And there you have it.
A comprehensive guide to understanding and reducing the cost of car insurance for new drivers.
Stay safe on the roads, and remember, every safe driving day is a step closer to cheaper car insurance.