Driving Lesson Liverpool Tips: How to Save Money on Young Driver Insurance?

Probably you’re unaware that Insurers don’t really like young drivers. It’s actually nothing personal. It’s all because of the current statistics that young drivers are far more likely to get involved in road accidents and therefore they make more insurance claims compared to older motorists.

A study showed young driver aged 18 is three times more likely to get involved in a road accident compared to a 48-year-old motorist? Also one in five newly qualified drivers has an accident within six months after passing their driving test. In other words, young motorists are in high risk, so they have to pay a higher insurance premium.

The cover cost for a young driver aged 17 to 22 is £1,000 which is about twice the average insurance premium. But some young motorists are paying more for their car insurance.

This £2,000 is already a lot of money. So you might consider spreading the cost in monthly installments over the year. Most car insurers offer this option, but watch out for the interest and admin charges. Usually, there’s a fee for the installment plan that will increase the cost.

You can also do your shopping for insurance companies around to compare quotes. So it’s always a better idea to shop around for your car insurance. Remember that insurance premiums vary from insurer to insurer and you can save hundreds of pounds by simply logging on to websites for cost comparison.

If you have recently passed your driving test, you may think of boosting your driving skills by taking up an advanced motoring course. The renowned one is the Pass Plus Course of the Driver and Vehicle Standards Agency (DVLA). This course is intended to fill in the gaps being left by the Standard Driving Test. So, there are modules on night time and motorway driving.

You can also come to the Institute of Advanced Motorists (IAM) which runs some advanced driving courses and driving lesson Liverpool, or you may try the AA or the RAC. These courses aren’t free but if you successfully complete it, you can earn some discount on your car insurance premium. You will also become a better and safer driver for your own benefit as well as for the other road users.

On the other hand, all car insurance policies have the compulsory excess. This is the amount you should pay for each claim. For example, if the compulsory excess is £300 and you have a claim of £500, the car insurer will only pay out £200.

Most car insurers will be happy for you adding a voluntary excess to your insurance policy and mostly they will offer some commensurate discount on your insurance premium. For example, you may pay a premium of £1,000 with a compulsory excess of £200. If you add a £300 voluntary excess, the premium might be reduced to £900.

Make sure to fully understand the discount before you increase the compulsory excess so that in time you have to put in a claim, you can afford the bigger amount.

You could also help bring down the premium if you add the name of an older and more experienced driver to the policy of your car insurance.