Finding the Cheapest Insurance For Young Drivers


There are many factors that influence how high your insurance premiums. While some of these factors are beyond your control, they are still the most important.

There is nothing you can do to change the fact you are under 25. You must accept that higher insurance premiums will be paid. In the UK, some insurance companies have noticed a gap in their market and offer incentives to young drivers in an effort provide affordable insurance.

Although insurance companies aren’t the enemy, some take advantage of young people being more risky to insure. These insurance companies are worth looking for because they know the best niche markets.

Young drivers can take advantage of no-claims bonuses offered by these insurance companies. These bonuses can be fast-tracked up to nine or ten month. Even if the bonus is for 12 months, they offer significant discounts to young drivers who don’t claim within one year.

Statistics show that one in five drivers will be in an accident within the first year of their driving lessons. You should be rewarded if you are one of these four drivers. That is what insurance companies want to do, reward young drivers who deserve it.

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Where can you find these mysterious insurance companies? They aren’t as difficult as you might think. It takes very little effort. Check out the various price comparison websites online, as well the numerous online insurance companies. You will soon find the best insurance for young drivers at a reasonable price.

Discounts for fronting and no-claims

Young drivers can save money by insuring their car under their parents’ names. This has two drawbacks. Firstly, the insurance company may not like this arrangement. Many insurance companies insist that the primary driver of a car must be the insured person. They will likely refuse to pay any claims if they find out that you are the primary driver and your parents are the insured.

This is called “fronting”. Insurance companies might cancel policies and issue an IN10 conviction for driving without insurance.

The no-claims discount mentioned above is the second problem. You build a record with your insurance company. The more you claim, the more discounts you get. You are not creating your own record by driving under the parents’ name, but you are simply giving a good record to them. There is a good chance that even if you have reached adulthood, insurance companies won’t remember your insurance history and will charge you an expensive premium. If you are insured under your own name, then you will be eligible for the no-claims discount and all other benefits that come along with a clean credit record.

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It is not a good idea to put the car in the name of your parents. You can save money by shopping around and buying a small car.