Young Drivers – Reducing Your Premiums

When it comes to car insurance, first-time and young drivers can find it particularly challenging to find an affordable car insurance policy. Because they are seen as a high risk due to their driving experience and their age, their insurance premiums will usually be much higher than those of an experienced driver.

So what can you do to help reduce the cost of your young driver’s car insurance policy and save yourself as much as you are able early on in your driving career?

Further Your Knowledge

Early on in your driving career, gaining additional knowledge can help to reduce your premium, so look into courses such as Pass Plus – which helps to teach more advanced driving techniques, such as driving on a motorway or at night time. Pass Plus courses can help to take a little off your premium, and investing in it early on could prove worthwhile in the long term.

While you’re learning to drive, you’ll be driving your instructors’ car, but after passing your test, you’ll have the responsibility of car ownership to worry about yourself. When starting off as a new driver, it can certainly be worth thinking about what you’re going to be wanting to drive.

Consider Your Car Model At First

When you’re first starting out on the road, consider the car you’re starting off with. Cars with smaller engines and that haven’t had any modifications put on them are going to be cheaper to insure, so consider starting a little more modest to start.

Ok, so it might not be your first choice or ideal car to start with, but by starting small, you can help yourself to save big on your young driver’s car insurance.

Consider adding extra security features such as steering wheel locks and alarm systems to help deter thieves and prove to your insurer that you have taken steps to protect your vehicle by making it less attractive to wannabe thieves.

ALSO SEE: 10 Easy Ways to Reduce the Costs of Your Car Insurance

Accumulate Some No Claims Discount

As your driving experience increases, your risk level will gradually drop, and you will find your premium reducing. By ensuring that you drive carefully and safely, you can begin to accumulate No Claims Discount which could help to reduce your premiums over time. But with the advent of technology, there are also other options for proving you’re a good driver, so why not try…

Tracking Yourself With Telematics

Telematic technology allows insurance providers to monitor drivers and, more importantly, their driving habits in order to determine the kind of driver that they are. While it might seem a bit Big Brother-ish, driving a car with a black box fitted in it could be useful for proving you’re a good driver.

Telematic black boxes are used by insurance companies to record certain aspects of your journey – including acceleration, braking, overall speed and cornering position – before feeding back the details using wireless technology.

Some policies will even allow you to view your current progress using a smartphone app, giving you the chance to check your progress while giving your insurer an idea of the type of driver you are, calculating your next policy price using the data you provide.

If you’re still not sure about using technology, turning to other people can help in the meantime, especially if you consider adding…

Second Drivers

While it may seem a little ‘uncool’ to add one of your parents to your insurance policy, this may help to reduce your premiums in the long term. By adding a more experienced driver with a good driving record as a second driver on your policy can help to reduce your costs by adding them as an ‘occasional driver’ – just make sure to not add them as the primary driver, or you may find yourself facing a fraud charge.

It can also be worth seeing about adding your car to a multi-car policy, especially if you still live at home with the folks. Multi-car policies can help reduce your costs by insuring them under the same household rather than as individual policies, and speaking of yourself as an individual it can be worth looking into a few details about yourself to try and bring down your premiums, so why not try…

Checking Your Job Title

If you are currently in work, have a think about your job title, and try running a quote through with several job titles that apply to you, you may find it cheaper for one than the other, but be sure to be honest as you can when applying.

Also think about how much cover you want to take out, so during the application process think about…

Checking Your Cover Level

Don’t just assume that getting a third party-only insurance policy is going to be the cheapest option, be sure to research into as many policies as possible before deciding on the one that’s right for you.

For some, taking out a fully comprehensive policy can be a cheaper option than just limiting yourself to a third party-only policy, but by taking steps to ensure you drive safely and are honest with your insurance company about your details you can save yourself a small fortune on your young driver’s car insurance policy.

Young drivers and first-time drivers can have a pretty raw deal at first when it comes to finding an affordable car insurance quote, but by taking action early on you can help yourself going forward.

By taking the time to make a few changes to driving habits, ensuring you drive safely, and taking the time to have a look at your policy options, young drivers could save themselves some money which could set them up for a long and happy driving career.

Van Insurance: Everything You Need To Know

Vans are a common sight on the roads of the UK and are used for a variety of purposes – from transporting packages as part of a courier service, or allowing tradesmen to move themselves and their tools to their sites of work.

There are even those who collect older, more classic vans – including the iconic VW Westfalia campervan – restoring and showing them at special motor meets and trade shows.

Whether you use a van for work, own a fleet of vans as part of your business, or own a classic or vintage van for showing purposes, you’ll need to make sure your vehicle is covered with van insurance.

What Is Van Insurance?

Van insurance helps to cover your vehicle and yourself in the event of an accident or incident that damages your property. Van insurance is a legal requirement for anyone using vans for the purposes of business and personal interests – including showing vehicles.

If you have a fleet of vans as part of your business, it can be worth looking into taking out some fleet insurance and securing all your vehicles under one single policy. This could save you money by insuring them collectively rather than one-by-one. Not only could this save you money, but could also save on administration costs by reducing paperwork.

What Levels Of Cover Are Available?

Much like with a regular car insurance policy, there are multiple levels of cover available on a van insurance policy:

  • Third-party only  

The cheapest cover available, third-party only cover, helps to cover the costs incurred by a third-party – including passengers – as a result of an accident. While this level would cover the cost of the third party, you would be responsible for covering the cost of any repairs that are needed as a result of the accident.

  • Third party, fire and theft (TPFT)

TPFT cover helps to cover your vehicle against damage by third parties, fire damage and in the event of your vehicle being stolen.

  • Fully comprehensive

Fully comprehensive insurance covers everything that is on a TPFT policy, as well as additional extras such as medical cover, windscreen cover and personal effects cover

Some brokers may offer the chance to take out a policy which is ‘stripped down’, essentially removing some of the effects of a comprehensive policy, ask your broker if you’re unsure and if this flexibility will be available for your policy.

Age And Experience

Like with car insurance, age and experience can make a difference when it comes to insuring a vehicle. Younger drivers will have trouble finding a cheaper policy because of their driving experience, while older drivers who have many years experience can find a cheaper quote.

Whether you drive for a fleet or as a sole trader, building up some No Claims Bonus on your van by driving carefully to build up some NCB can save you money on your policy going forward.

Insuring Fleets

Depending on the size of your van fleet, looking at getting some van fleet insurance can be worth looking into. Fleet insurance policies allow you to insure multiple vehicles using a single policy, rather than insure each vehicle individually, which could work out cheaper for you in the long term.

RELATED: 10 Easy Ways to Reduce the Costs of Your Car Insurance

How Can I Reduce My Premium Price?

There are a number of ways you can help to reduce the price of your van insurance policy, some may take time but some can work in your favour immediately:

  • Build up some No Claims Bonus – through careful driving over a period of time you can accumulate some NCB and help to reduce your premiums by proving to an insurer that you are a careful driver.
  • Install additional security – invest in some additional security for your van, including wheel locks and alarms, in order to keep your van safe from thieves. Bear in mind where you leave the van at night, and try and use a secure location rather than in the open on the road if possible.
  • Consider your mileage – try and work out an approximate mileage per year for your usage, although this can be tricky if your business is countrywide and unpredictable. If you use a van for show purposes only, consider taking out a ‘limited mileage allowance’ on your policy which sets a mileage limit per year that could save money on your policy.
  • Cover your contents – look into putting an additional extra onto your policy that will help cover the cost of any tools and equipment that might be left in the van overnight, or consider taking your tools out of the van and into safe storage at night in order to make it less attractive to criminals.
  • Membership of a trade – some brokers may offer discounts if you are a member of a trade organisation; such as the Federation of Master Craftsman or NICEIC, so be sure to disclose this information whatever your trade is.