Finding the cheapest Car Insurance for young drivers

Young drivers pay a relatively higher car insurance premium compared to older drivers. This is largely because statistics show young drivers have a higher risk of being involved in a motor vehicle accident.

Insurance companies calculate car insurance premiums based on the risk or probability of the driver to having a car accident plus the cost of the claim if it happens. Therefore, younger drivers have more expensive insurance policies due to the higher risk of car accidents.

Insurance rates are also calculated based on the age, year, make and model of the vehicle being driven.

Finding Cheap Car Insurance - Some insurance companies may offer car insurance to young drivers at a cheaper rate than advertised. The insurance agencies take into account the type of coverage, type of vehicle, gender, driving record and the location. For example, car insurance in London for a young driver is more expensive than young driver insurance in Plymouth. Some insurance agencies offer discounts for young drivers who have had good driving records for at least three years.

Compare Car Insurance Quotes - Since car insurance for young drivers is relatively more expensive, the best way to look for cheaper car insurance is to get insurance quotes from different insurance providers. This allows you to compare their prices and coverage. Some insurance policies can even differ by hundreds of pounds.

Other insurance companies are also able to offer cheaper insurance policy rates because they specialize in young drivers' car insurance. Other companies have policies that have been tailor-made for young drivers.

Lower Insurance Tips - There are a few ways that will help reduce the cost of car insurance for young drivers. A used car or mid-range car is best for young drivers. Used cars typically offer lower insurance rates.

High performance cars and SUV's have a greater effect on the insurance rate. This is because there is a higher probability of new cars being stolen and they can be more expensive to fix when in an accident.

Another option is to add the youngster's vehicle to their parents' existing insurance policy to make them occasional drivers. This can reduce the insurance rate since most insurance companies offer discounts for multiple cars and multiple types of policies.

Third Party Insurance - This is the most basic type of car insurance policy for young drivers. It covers any damages made to your car by someone else. However, if the damage is caused by the young driver himself, then he will need to pay for the cost of repairs.

Comprehensive Car Insurance - This policy provides extensive coverage for their vehicles. It is relatively more expensive because it gives full coverage for any damage to your car by any means.

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