Car Insurance For 17-Year-Olds
Figures from the Association of British Insurers show that every year 50,000 17-year-olds pass their test after less than six months of lessons. This lack of experience is reflected in the price of car insurance for 17-year-olds with typical premiums for 17 to 25-year-olds doubling the national average.
What should 17-year-olds look for from a first policy?
In 2008 several of the UK's leading car insurance companies stopped offering quotes to 17-year-olds altogether due to high accident rates. However, even though the options for young drivers may be more limited than older motorists with more experience, they should still shop around for car insurance and gather as many quotes as they can. There are several specialists in the market that specifically offer quotes to young drivers.
When searching for cheap car insurance think about the value of the car itself. There may be little point in paying for comprehensive cover if the vehicle is cheap to replace or repair. Consequently, new drivers may be better off with third party only or third party fire and theft cover just to give themselves the minimum legal level of coverage.
How can 17-year-olds save money on car insurance?
There are a number of factors to consider which can help reduce the cost of your car insurance. These include:
- Vehicle choice – Buy a conventional vehicle with no modifications as high-performance cars present a greater risk to insurers.
- Increasing security – Park in a garage at night, fit a car alarm and immobiliser. Ask the insurer to recommend products.
- Taking a Pass Plus course – As soon as you complete your test take a Pass Plus course. Bear in mind however, that this will typically cost more than £100 but it could be money well spent if it knocks more than that off the cost of your insurance.
- Adding a parent as a named driver – Most insurers will offer a discount if you have a more experienced driver on your policy. However, don't ask an adult to 'front' a policy for you (put it in their name) as this is illegal.
How can 17-year-olds get cheaper car insurance in the future?
Drive safely and build up a no-claims discount – many insurers offer rapid bonus schemes to 17-year-olds to earn a full year's bonus in nine or 10 months. Remember too to shop around with the moneysupermarket.com car insurance comparison tool each year to take advantage of introductory offers. Many insurers offer their cheapest rates to new customers so don't assume your existing insurance provider will remain the cheapest.
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