CAR INSURANCE - HOW YOUNG DRIVERS CAN SAVE MONEY ON IT

Inexperience and high claim values are two reasons why new driver insurance is so expensive - they are considered a larger risk to the insurers. Premiums will fall over time with no claims or offences, but there are several things young drivers could do to save money on their first policy. And, importantly, none of these invalidate the cover.

1. Do your research



Before taking out your first car insurance policy, research and look at all the options. A car insurance comparison site is a good place to start, but remember some insurers only offer quotes direct. If your household has other insurance policies, multi-car discounts may be available too.



While you'll be unable to negotiate without a renewal offer on your first policy, understanding the car insurance market and what factors influence premium prices will help to keep the cost as low as possible.



If you have recently passed your test but don't expect to drive regularly, you could purchase temporary car insurance to cover you on a friend's or family member's car when you need it, such as university holidays, going on a staycation or moving home.



2. Drive a 'modest' car



One of the ways insurers measure your risk as a driver is by looking at the vehicle's make, model and power. There are 50 car insurance groups, with 1 being the cheapest and 50 the most expensive. The car's performance, cost of parts and repairs, security and purchase price all play a role in w...