As young drivers head back to school or university, insuring a car is just one more expense to grapple with. The cost of car insurance is generally a lot more expensive until you reach the age of 25. This is because the insurance market classifies newly qualified young drivers as inexperienced, and therefore more likely to have an accident and submit a claim within two years of passing their driving test.
Finding low cost car insurance for new or young drivers can be tricky. However, it’s not impossible. Here are our top tips to keep your car insurance cost down if you are under 25 years of age.
Choose a smaller vehicle
Larger cars with large engines tend to attract higher premiums compared to those with small engines. Going for a small car with a small engine can help keep your insurance cost down. Steer clear of modified cars, too, as you will definitely pay extra on car insurance cover for a modified vehicle.
Add security measures
The safer your car is, the lower is the likelihood of it being stolen or getting involved in an accident. There are many ways to improve the security of your car. Car immobilisers and steering wheel locks are good options to begin with. You could even consider adding car tracking systems.
Include an experienced driver
Inexperienced young drivers can reduce their insurance cost by adding an experienced driver to the policy as a named driver. If a member of your family has a full driver’s licence with many years’ of driving experience, consider adding them to your car insurance policy as this could reduce the overall cost of the premiums. Sharing your car with them indicates that you will be driving less, which will reduce the risk of accidents, bringing down your insurance cost.
Lower your mileage
Lowering the number of miles you drive can have a huge impact on your insurance premium. The more you drive, the more the insurance company sees the potential for you to meet with an accident. Avoid making needless journeys. When taking out your insurance policy you will be asked to outline / estimate your yearly mileage. Be sure to give this a realistic estimate based on you not driving excessively (by keeping your millage down on a day to day basis).
Only get the coverage you need
Look closely at the coverage you are getting. Firstly, insure your car for the correct amount, being realistic about its market value and how much it is worth. Try to avoid over- or under-insuring your car. Check that your valuation is correct using an online car valuation website, taking into account its age, condition and mileage. Also work out what optional extras you may – or may not – need. Breakdown assistance, windscreen cover and no claims bonus protection can add up, so if they aren’t important to you, find out how much you would save by cutting them out.
Consider Third-Party cover
Third-party cover is the minimum you need by law to drive in Ireland, and is cheaper than Comprehensive. If you have an older vehicle that’s showing wear and tear, this might be a good option to lower costs. Remember, you won’t be covered for damage to your own car in the event of an accident that is your fault.
Use an Insurance Broker
A broker can compare multiple insurance policies to help find the best young driver car insurance policy available to them in Ireland. At Britton Insurance, we compare up to 14 car insurers to help you find the best ‘low cost car insurance’ available to us on the market.