6 hacks for saving on car insurance as a young driver

Friday, 16 October 2020

Car insurance rates have undoubtedly continued to soar for young drivers over the last number of years. Unfortunately, even as 2023 approaches, there doesn’t seem to be any end in sight for this existing trend. Insurance is all about the calculated assessment of risk.Due to the inexperience of younger drivers, they tend to pose more of a risk on the road than a driver who has many years of experience under their belt.

This issue is further coupled with the increasing trend of compensation culture which also appears to be contributing to rising insurance costs. Compensation culture essentially is a phrase that was coined by the media. The phrase describes a society in which individuals of the public pursue compensation for every slight infraction by use of litigation. While these factors are at play when it comes to the price of young driver’s car insurance, all hope is not lost. At Cover in a Click we’re here to give you 5 great hacks for saving on your first car insurance policy.

1. Take a defensive driving course

If you haven’t heard about defensive driving courses, then you’re not alone. Defensive driving courses have been around for years but the benefits of availing of them are rarely discussed. A defensive driving class goes beyond the basics that you learn in your initial 12 lessons.

A defensive course essentially prepares you for driving in hazardous conditions and teaches you how to effectively anticipate dangerous situations and avoid accidents. The best part about these courses is that aside from learning pragmatic driving tips, they also can have a positive impact on your insurance premium.

So why not take a class and reap the benefits? There are a number of facilities that run these courses in Ireland, one of which is the Leinster driving campus which is based in Kildare.

2. Think about adding a named driver

Adding a named driver to your insurance is one of the most popular techniques in reducing insurance premiums as a young driver. If you can add an experienced family member with more significant experience to your insurance, then you’re likely to see a reduction in the cost. It’s vital to remember however that the named driver in question must have an extremely good driving record with as little claims as possible.

When a named driver is added to your insurance policy, the insurance provider assumes a reduction in risk because the young driver will now be spending less time in the car. Hence, the chances of a collision are lowered.

So, if you’re in a position to avail of this reduction you should do so!

3. Consider a black box

A little black box isn’t just used for planes, it’s also a useful tool for young drivers when it comes to reducing their car insurance premiums. A black box can usually be sourced from your insurance broker, it will be fitted to your car, out of common site and it’s no larger than a standard iphone.

Once it has been suitably fitted, it begins recording data from your driving. You then usually get an update on your driving via email or a text once a month. The information is recorded by your insurance provider, who then takes the information into account when calculating the price of your insurance renewal.

4. Use an insurance broker

Lots of people will stress the importance of ‘shopping around when it comes to purchasing car insurance. They’ll tell you to do research on various companies, policies and supposedly ‘cheap premiums. It can be incredibly daunting trying to navigate your way through all the different companies and jargon when you’re a young driver, that’s why using a broker can help.

Insurance brokers do the bulk of the shopping around, so you don’t have to. Young driver specialists at brokerages are familiar with all the insurance providers so they know the ultimate best deal you can get.

So, if you’re on the hunt for an insurance deal, you should reach out to a broker.

5. Consider a policy excess

Another viable option for young drivers looking to cut the cost of insurance cover is to agree to a voluntary excess. This means that you will have to pay more toward the cost of any future claims as the voluntary excess is added together with the compulsory excesses. It’s important to remember however, that young drivers already have a higher compulsory excess than older, more experienced drivers. So, while agreeing to a voluntary excess will lower the cost of your premium, drivers need to also make sure the total sum of excesses is affordable if an accident takes place where the young driver is liable for damage.

6. Don’t tamper with your car

A vital tip to remember as a young driver is that any modification you make to your car could strongly work against you when it comes to a car insurance quote. While you might be tempted to make small alterations such as modified tint or spoilers, they could have a very large impact on the risk assessment.

Sticking to a car with a modest engine and avoiding any temptation to interfere with the bodywork of a vehicle is in your best interests as a young driver moving forward.

While it might seem like all car insurance quotes are high and there’s no hope on the horizon for young drivers, it really isn’t the case. There are a multitude of great policies with effective benefits out there if you take the right steps and use the right brokerage.