6 best ways to bring down the cost of your car insurance

If you're a young driver looking to insure your first car, you probably already know that you face some of the highest car insurance premiums around.
Just a look at road accident figures for young drivers can explain why insurance premiums are so high.
What you may not know is that there are a few things you could do to bring down the cost of car insurance in your first years on the road.

 

1. Five facts about accidents involving young drivers*

1. One in five drivers has an accident in the first year of driving
2. 26 per cent of road accidents involve at least one young car driver aged 17 to 24
3. 79 teenage drivers were killed on the roads in 2009, another 770 were seriously injured and 9,500 slightly injured
4. A higher proportion of young driver accidents occur on Friday and Saturday nights
5. 57% of reported accidents involving young car drivers occur in urban areas

Being aware of the risks that come with being an inexperienced driver can help you to think about how you can drive safely and avoid incidents which may involve an insurance claim.
* Sources
AA Public Affairs report: Young drivers
DfT Road Accident Statistics Factsheet No. 6, 2009: Reported road accidents involving young car drivers

2. Earn a no-claims discount

If you drive safely – by following the Highway Code and staying within the speed limit – you will reduce your chances of being involved in an accident. By avoiding accidents you will improve your chances of earning that all important no-claims discount when you come to renew your car insurance.

3. Choose a car in a low insurance group

In the UK every new car is assigned to a car insurance group. Rated from 1 to 50, each insurance group is based on how much the car is likely to cost insurers per claim. Cars in group 1 represent the lowest cost for insurers, so the lower the insurance group a car is in, the lower your insurance premium is likely to be.

4. Car security

Thinking about the security of your car could help you reduce your premium. Things to consider:
Where your car is kept overnight
If you can, the ideal place to keep your car is in a locked garage. If this isn't an option, your car is best kept off the street.
Security devices
It may be worth considering additional security devices for your car. Your insurer can advise on approved security devices. Devices which may attract lower premiums include:

• alarm/immobiliser systems
• high security door and ignition locks
• mechanical immobilisers
• glass etching – etching the registration number to vehicle glass
• a visible VIN (Vehicle Identification Number) which can be seen through the windscreen acting as a further deterrent to thieves

Remove valuables from you car
Take the stereo, sat nav and valuables with you when you lock your car.

5. Don't modify your car

Fins, spoilers and other extras may look good, but if you modify your car it's likely to mean a higher car insurance bill.

6. Compare like with like when buying car insurance

Car insurance policies with the same price may not offer the same level of benefits. So when you search for insurance compare like with like to see whether a policy covers everything you need.
If you think you've found a bargain, always look closely at the detail, particularly at any compulsory excesses which you would have to pay when making a claim. What looks like cheap car insurance could actually be expensive if the excess is more than you can afford to pay.