Finding car insurance for young drivers and students that doesn't cost the earth can seem like an uphill battle. As a result, many parents resort to insuring their child’s car in their own name, simply to cut costs. However, doing so is illegal, unless you can prove that you’re the primary driver of the vehicle; furthermore, it can result in any claim being declared invalid, and a fine of six penalty points being added to your son or daughter's driving licence.
According to car insurers, young or new drivers are more likely to be involved in accidents, particularly those involving injuries or death, and are twice as likely to claim on their insurance as older or more experienced drivers. Whilst premiums get more affordable with age, and the amount of time since you passed your driving test, often it's not financially or practically feasible to wait until it does. Luckily, Can Can Cover has some ideas on how to make the cost of a young or student driver’s car insurance as inexpensive as possible.
1. There is an intensive training course available called Plus Pass, which is specifically for newly qualified drivers. Many insurers offer premium discounts of up to 35% and accelerated no claims bonuses for young drivers who pass this test.
2. Purchase a lower powered vehicle which falls into a cheaper insurance bracket.
3. Opt to pay higher excesses as this will make the insurance premium cheaper.
4. Use cancancover to shop around for the best deal by comparing several companies against each other. Purchasing your insurance online will often attract an extra discount.
5. Add an older named driver to your policy, e.g., a parent, which can save up to 10% on your premium.
6. Improve the security of your vehicle by having a Thatcham-approved alarm fitted and keep your car parked securely, off the street.