Insurance

Car Insurance – How To Pay Less When You Are A Young Driver

By August 15, 2022September 30th, 2023No Comments

Have you just obtained your driver’s license and are looking for ways to insure your first vehicle? What do you need to know before choosing and insuring your car?

Find out all the things you need to consider to avoid overpaying for your first car insurance  as a  young driver .

 

Learn with accompanied driving

Accompanied driving reduces the amount of your insurance because it allows you to gain more driving experience.

Moreover, statistics prove that people who have taken an accompanied driving course cause 4 to 5 times fewer accidents than drivers who have passed their license in the traditional way.

This is why insurers have more confidence in them and lower their premiums.

One of the elements that impacts the price of car insurance: the choice of car.

When buying your first car, consider the following criteria:

  • Age: the age of the car plays an essential role. The more recent the model chosen, the greater your contributions will be. Therefore, give preference to cars that are already of a certain age.
  • The model: the price changes according to the finishes (leather of the seats for example) and the equipment present in the vehicle.
  • Power: from an insurer’s   point of view, a car with a large engine capacity carries a higher risk of serious accidents.
  • Petrol or diesel? A petrol car   is preferable if you are a young driver. Diesel cars have a higher repair cost.

To avoid blowing your insurance budget, prefer a petrol car, not too recent and not very powerful.

Select the best guarantee

Before taking out your first car insurance, find out about the different existing formulas.

Several are offered, but the most common are “third party” and “all risks” insurance.

Each has advantages and disadvantages.

The “third party” formula is the cheapest but to compensate for its price, the coverage is lower. The deductibles will be higher and fewer claims will be covered (scratches, broken glass, etc.).

The “all risks” formula is certainly more expensive but protects much better (breakage of glass, non-responsible accident, etc.). Generally, it includes more options: assistance and/or car loan.

Your choice will mainly depend on your budget and the value of your vehicle.

Tip: As a young driver, take out “all-risk” insurance if you are still paying off your car loan.

Attention point  :

As a “young driver” you will be subject to a surcharge. Do not panic, this additional premium is governed by the insurance code . It is therefore regulated.

Some companies will reduce it by increasing the price of the franchise. You will therefore need to read your terms and conditions carefully.

Declaring yourself as a secondary driver  on the car of someone close to you can be advantageous. However, this is not the best thing to do.

In the eyes of the insurance companies, they will consider you, 3 years later, still as a young driver.

You will not say goodbye to the additional premium of your contract!

Do we have to report all claims?

A scratch, a broken mirror, it can happen to anyone, especially when you’re just starting out.

It’s a calculation to make, but taking the costs at your expense may prove to be more advantageous.

Indeed, given your status, the penalty and the deductible can cost you more than paying for the repairs yourself.

Choose connected insurance

From now on, there are new modes of insurance dedicated to young drivers which make it possible to limit the amount of your first auto insurance.

1.      “Pay how you drive” insurance

This insurance is based on one principle: you only pay for the kilometers you travel. Using a box connected to your vehicle, your insurance adjusts to the use you make of it.

This type of insurance is interesting if you do less than 8,000 km per year.

The savings made are between 20 and 30%.

2.      “Pay as you drive” insurance

It is also based on a connected box system which aims to collect data: braking, cornering, acceleration and traffic schedules.

All this information allows your insurer to calculate a   driving score.

A good score will allow you to benefit from a reduction (which can reach 40%) of your monthly premium.

In addition, you will benefit from driving advice provided via an application installed on your smartphone. They will help you drive flawlessly.

With this insurance, it is no longer the kilometers that are taken into account but your good driving.

This formula is interesting if you have no doubts about your driving.

Compare before choosing

Last but not least:  compare .

Before taking out insurance, it is important to study several quotes.

Each insurer has its own rates.

To make your comparison, use online comparators .

Once you have made your comparison, you will have all the keys to choosing the right contract.

You have therefore understood that the choice of your first car insurance is not trivial.

You have to start thinking about it before you get your driver’s license (accompanied driving) and buy your first car.

 

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