Research by a comparison website shows that the majority of young drivers are trying to insure cars with engine sizes greater than 1250cc, which in turn means they are missing out on large savings on their car insurance premiums. A whopping 63 per cent are researching quotes for vehicles with an engine size above the 1250cc threshold.
The boy racer stereotype among 17- to 21-year-old drivers is penalised heavily by car insurance providers. Cars with higher performance potential are generally involved in a higher number of road accidents and this can send premiums to astronomical levels for inexperienced motorists with 18-year-olds typically involved in three times as many road accidents as drivers in their fifties.
Generally the lower the engine capacity, the lower the premium - so young drivers should think about their car insurance expenses when searching for a new car. It's also worth looking out for vehicles that haven't been modified away from the standard manufacture as this too will cause premiums to rise.
There are other ways for young drivers to save money on car insurance including taking a Pass Plus course as soon as they pass their driving test. This gives them additional driving experience and normally entitles them to a reduction in premiums - sometimes as high as 35 per cent.
Security is also a vital factor for young drivers. Many new motorists are students and live in high crime areas which can push up their premiums. However, by parking in a garage at night and fitting an alarm or immobiliser to the vehicle these costs can be slashed.
The most important step towards cheap car insurance however, is to shop around. Fortunately on this front it appears young drivers are getting the message - the comparison website reports that most of its car insurance customers are aged 17 to 21. |
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