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How to reduce your car insurance cost as a young driver

By Tom Gibson | March 9, 2023

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Car insurance is a legal requirement for all drivers in the UK, but it can be a significant expense.

How to reduce your car insurance cost as a young driver

Car insurance is a legal requirement for all drivers in the UK, but it can be a significant expense. However, there are several ways you can save money on your car insurance while still getting the coverage you need. Here are some tips to help you reduce your car insurance premiums:

Shop Around for the Best Deals

One of the easiest ways to save money on your car insurance is to shop around for the best deals. Comparison websites like GoCompare can help you compare quotes from multiple insurers quickly and easily. Don't be afraid to negotiate with your insurer or ask them to match a better deal you found elsewhere.

Increase Your Excess

Your excess is the amount you agree to pay towards the cost of a claim. Increasing your excess can reduce your premiums, but make sure you can afford to pay it if you need to make a claim.

Choose a Smaller Car

Smaller cars with smaller engines are generally cheaper to insure than larger cars. If you're buying a new car, consider the insurance group rating before making your purchase. Cars in lower insurance groups generally have lower premiums.

Add a Named Driver

Adding a named driver to your policy can help reduce your premiums, especially if they have a clean driving record and no claims history. However, make sure they actually will drive the car regularly, as falsely adding a named driver to your policy for the sole purpose of reducing your premiums is illegal.

Consider Telematics

Telematics insurance, also known as black box insurance, is a type of policy that uses a device to monitor your driving habits. Safe drivers can be rewarded with lower premiums. However, if you drive recklessly or frequently drive during high-risk times, such as late at night, your premiums may increase.

Pay Annually

Paying for your insurance annually rather than monthly can save you money, as many insurers charge interest for monthly payments.

Improve Your Car Security

Improving your car security can help reduce your premiums. Adding an alarm, immobilizer, or tracking device to your car can make it less likely to be stolen or broken into, which can lower your premiums.

By following these tips, you can save money on your car insurance without sacrificing the coverage you need. Remember to review your policy every year to make sure you're still getting the best deal for your needs.

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