Learning to drive is a rite of passage for many and passing your test a major milestone worthy of celebration. However, many find those celebrations short-lived once they come to purchase their first car insurance.
Car insurance for young drivers can be hard to secure, and car insurance for teens even more so. This blog explores the facts being those fearsome figures and why car insurance for new drivers irrespective of age can also be a significant expense.
CAR INSURANCE FOR TEENS YOUNG DRIVERS: The Facts
So, you’ve excitedly reached the age of eligibility to learn to drive, learned well and passed that all important test. You’ve even got your first car, congratulations! But you’ve just had your first crash, thankfully only of enthusiasm, as you’ve started to get car insurance quotes. And they’re sky high! Why? Let’s break it down…….
- You’re young and unattractive. Before you get upset, don’t be alarmed; we’re talking about from a risk perspective! Car insurance for teens is notoriously expensive because you come with a track record even when you don’t have one. Confused? Let’s clarify. Insurance is all about risk and data and that combo isn’t the most desirable when you’re a young, newly-qualified driver. Data shows that drivers under the age of 25 are most likely to crash than their older counterparts.
- Time isn’t on your side. One of the biggest benefits of being an older driver is that you’ve had a chance to build up a clean driving history, and this can equal a reward in the form of a no claims bonus. Being a young driver, you simply won’t have been on the road long enough to accrue the experience.
- Patience is a virtue. Unfortunately, in the world of car insurance for young drivers, experience is one of the biggest and best factors to get those premiums down. Sorry to say, but it’s a case of sitting tight, driving safely and being patient.
CAR INSURANCE FOR NEW DRIVERS: The Facts
So, what’s the difference between car insurance for new drivers, car insurance for young drivers and car insurance for teens. You might be thinking they’re one of the same but trust us, there are distinctions. Read on to see what we mean…….
- Experience and exposure are everything. Skills are acquired through experience and being a novice driver means you lack the real-life experience of being on the road, and being exposed to a variety of different situations.
- Confidence & competence. As you gain in experience, you’ll also gain much needed skill which feeds your competence and confidence. Right now, you’re an unknown to an insurer and this is a high-risk factor for them, hence why you can expect to pay a higher price in the early years of driving.
- Bonus benefits need building up. Driving history is key to lowering those premiums and building up a No Claims Bonus through being claims-free is the key. As a new driver, your lack of history doesn’t penalise you but it does mean you can’t unlock all the discounts that may be available.
- Lack of loyalty rewards. As your car insurance is new, you won’t have been through a renewal yet. Companies value their loyal customers and recognise it in the form of rewards, so a couple of years down the road will help to secure those savings.
So, whether you’re a teenage, young or inexperienced driver, you’ve a long road ahead, but with patience, time and careful driving, you can start to enjoy driving those prices down too!
