Finding cheap car insurance is not easy when you are 18 years old and you just got your driver’s license . Being a new driver is a problem when it comes time to insure our first car. Because for novice drivers, the price of Car Insurance is an obstacle to having their own vehicle. Finding Car Insurance for young people can be difficult, so we want to offer you some tips that can help you.
Whether we like it or not, even if you manage to pass the driving test, being young for insurance companies means being a risk behind the wheel. Do you know what your driver profile is for your insurance ? Among the types of drivers that insurers distinguish, the novice driver is one of those who has a higher accident rate than the average and that penalizes them when looking for a policy to be able to circulate. driver and insurance
The truth is that there are data that confirm that the accident rate is higher among younger drivers.
Young driver in old car: more risk
And when the age of the vehicle was added to the youth of the driver, this risk skyrocketed: accidents were 142% above the average frequency when the car driven by young people had already turned 12 years old. Young people in older cars are more at risk of having a road accident.
It is an important fact, because many young drivers turn to the second-hand market to buy their first car.
Tips to find your Car Insurance when you are young
Although contracting Car Insurance for young people is more expensive and complicated, there is no need to be alarmed either: There are alternatives so that the policy you are looking for is more accessible and, also, more affordable.
Don’t get overwhelmed: finding Insurance for your first car is possible
Being harmed by risk statistics is a problem, agree, although it is always possible to find better prices if we compare different offers, analyzing the coverage offered by each insurer, and contrasting these services with the real protection needs of the vehicle.
In our Insurance Brokerage we have helped thousands of young novice drivers to find an insurance company for their first car. And our experience tells us that there is always a good offer for any type of driver.
Thinking carefully about what type of Car Insurance is convenient and comparing between the different options is key to finding affordable Car Insurance tailored to any young driver.
What is clear is that for many young people the price is decisive to access the Car Insurance they need. If you are looking to insure your first car with an affordable policy and you do not have much experience behind the wheel, these tips that we propose can help you.
Choosing the right car can help us save on insurance
All young people are attracted to sports cars with 200 hp engines and blistering acceleration. But when we talk about insuring the vehicle of a new driver , it is advisable to look for less powerful models.
The power of the car and its age are two factors that can play for or against the young insured. Surely, by common sense, you have guessed that insurers prefer their younger clients to drive more normal cars or utility vehicles, which are not too old and have adequate safety devices.
One piece of advice: Think carefully about whether it is worth it to use a brand new car with a recently approved driving license. The Insurance will take into account the cost of the repairs and the total loss of the vehicle, and will affect it in the policy.
What type of policy suits you when you are young
There are several types of insurance contracts that you should take into account. If the vehicle is second-hand, probably the best option is to take out Third-Party or Extended Third-Party Car Insurance.
But if you are going to hit the road with a brand new car, it is advisable to opt for the All Risk Insurance , despite the fact that it is much more expensive, especially as a new driver.
In this sense, it is also necessary to consider the possibility of contracting the franchise policy , which is a way of lowering the price of the premium, assuming part of the risk. If you are not going to make intensive use of the car, it may be the best option.
Installment payment of Automobile Insurance
On the other hand, if we seek to make the Insurance more accessible, it may be interesting to ask the insurer about the possibility of paying the premium in installments, instead of paying it in an annuity.
The deferred payment of the policy may entail a surcharge in the price, but it may be that in your personal circumstances, that percentage compensates the possibility of paying the Insurance payment on a semi-annual basis. In this post about paying car insurance in installments, we give you all the keys to this possibility.
Choose well the guarantees for your Insurance
When looking for your first car policy , it is important to choose the coverages that you really need. Compulsory Insurance is essential for driving and, probably, you will find guarantees and services that are useful in certain circumstances, but when it comes to saving, you have to refine the choice of coverage.
Many of us have taken our first rides in used cars and with a few years behind them, for which it is not worth taking out the Own Damage guarantee , for example. A Third Party Insurance, or an Extended Third Party may be more than enough.
You also have to take into account factors such as the use you are going to give the car, if you are going to use it to work or you only want it to move around your environment and take a trip from time to time.
Consider the age of the vehicle, the kilometers you do and the use you give to your car. Think about whether you keep it in the garage or not and if you make long journeys or just drive around town.
Each policy is different, but in any case we must take into account that, as we increase the level of services and guarantees, the premium will be more expensive.
Analyze what coverage you really need, and contract the ones that are really essential. An insurance broker can help you in this process.
What happens if no insurer insures you
It may happen that, once the risks have been evaluated, you can not find an insurance company that insures you . It is not normal, but there are cases like this.
If it is not possible to insure your first car with a company, it is the Insurance Compensation Consortium that is responsible for insuring your car, although the coverage offered by the Consortium is basic and will only cover the Compulsory Civil Liability that is required to all motor vehicles to circulate.
In other words, if your windows break, your car is stolen or you suffer damage in an accident, your policy will not cover it.
This situation is not common, it is normal for you to find Car Insurance adapted to the risks involved in being a young driver. In fact, there are Insurances designed for novice drivers , with a coverage offer adapted to the needs of this type of customer.
These Insurances also usually reward responsible driving with interesting bonuses and advantages, in order to encourage these younger policyholders to drive with the greatest caution.