New driver car insurance

How much does it cost to insure a new driver?

Car insurance premiums are based on certain facts. Given an insurer won’t know individual drivers needing protection, they base premiums on how likely it is they will have to pay out and how expensive a claim may be. They work out how much of a risk you are.

With no driving history, car insurance providers look at claims statistics, which reveal young and inexperienced drivers have more accidents than those who have notched up a few years’ experience, and young motorists tend to be involved in higher-value claims.

Why is new driver car insurance so expensive?

Generally, speaking, drivers have got safer in the past few years, with younger drivers showing the most improvement. However, they remain more likely to be involved in accidents than drivers over the age of 25 and more likely to cause injuries to third-parties.

Figures from the Department for Transport in 2018 show that around one in five new drivers are involved in a crash during their first year on the road. 

Other reasons why car insurance is so expensive for new and young drivers include: 

This is why new drivers are considered riskier and are charged more for car insurance than older and more experienced drivers.

How much do new drivers pay for car insurance?

Car insurance for young drivers will nearly always be more expensive than for any other age groups.

The cost of car insurance for 21-year-olds fell 7% to £118 per month during the first few months 2020, partly because fewer car journeys were being made as a result of the coronavirus pandemic. But it is still not cheap:

Can I get cheaper new driver insurance?

Car insurance for young drivers will nearly always be more expensive, but there are things you can do to minimise the cost of your premiums:

Is multi car insurance cheaper than standard car insurance?

There are occasions when multi-car insurance policies offer a really good deal. They are worth considering if:

Multi insurance might also be suitable:

What if I don’t have a car but need insurance?

You don’t need to own a car to require car insurance. If you are only planning on borrowing a car, or even if you have one tucked away on your drive with the required Statutory Off-Road Notice, of course, short-term or temporary car insurance, might be the ideal solution.

This cover option would allow you to drive for a limited period of time, with at least third-party cover, which could be handy if you are moving home or back from university. 

Other smart ways to save money on car insurance

There is a whole host of ways to prune the cost of your car insurance, if you know where to look. Try the following:

Is black box car insurance cheaper for new drivers?

Black box or telematics insurance involve fitting a device to your car. This GPS-enabled device allows the car insurer to monitor driving behaviour. For example, acceleration, braking, cornering, miles covered and also what time of day you are driving.

The price of your insurance then goes down if you can prove you are a good, safe driver. However bad driving can result in your premiums going up and your insurance could even be cancelled.

Read more …