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Have you heard about the new young driver insurance scheme?

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Many insurance companies are offering a new young driver insurance scheme to their customers. It's known as pay as you drive car insurance and it's a great way to make substantial savings on your car insurance bills.

Pay as you drive car insurance is open to all drivers, but it's especially popular with young drivers - drivers under the age of 25 - because this is the group of motorists who have the hardest time finding cheap car insurance.

The young drivers insurance scheme works by attaching a tracker to your car that relays information on your driving skills and habits back to the insurance company. There are a number of things that the insurance company can learn from the tracker, and they can calculate a premium that is a much fairer reflection on what type of driver you are.

The speed you drive at is one of the most important factors that the tracker will notify the insurer of. Young drivers who stick to the speed limit can expect to be generously rewarded by the insurance company.

And the roads you drive on are also important. Drivers who frequently use secondary roads will be charged more for car insurance because these roads are seen as more likely to cause accidents by insurers.

One of the best ways to reduce your car insurance premium under this young drivers insurance scheme is to agree to a curfew. If you're willing to abstain from driving between 11pm and 6am - the time when most accidents on the road occur - you can dramatically reduce the amount you pay for car insurance.

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