10 Steps To Getting The Best Discount And Cashback on Car Insurance For Young Drivers
Nowadays, the cost of car insurance is very high in many countries throughout the world. It is deemed to rise since the accidents occurring and the presence of young drivers in the traffic is increasing. With this in mind, the average cost of car insurance for drivers under 25 years in the United Kingdom starts from £1,242 per year, which is a real fortune.
However, there are many tips on how to cut the costs on car insurance, get the best cashback or discount in it. Today, we are showing a step-by-step guide with many tips on how to lower your car insurance for young drivers.
Step 1 - Third parties ARE NOT the cheapest
The common three types of insurance in the world include third party only, third party fire and theft and a fully comprehensive solution. Logically, the third party options should be cheapest for most young drivers coming from the fact that they require a lesser level of cover than the most advanced comprehensive solution, but this is not true.
So, if you are wondering which car insurance for young driver to choose, you should know that the comprehensive cover saves money on the long run over the third-party car insurance policies, and therefore is the choice to make.
Step 2 - Add A Second Responsible Driver
Do you know that you can cut off your costs with adding a second driver to your car for your car insurance? As bizarre as it sounds and it should be on the contrary, adding a 40 year old family member as 'an occasional user' of the car and not a main driver was found to cut the premium by around 1000 pounds (an example from UK). However, cutting the costs are mainly viewed as risk. But how?
If you are a high-risk driver and you put a person who is a much lower risk driver as a second driver to your car, your average risk will fall therefore cutting the price. Also, since mentioning risk, applying for car insurance always goes with a better cashback if you have smooth driving history without penalties or accidents in order to be a lower risk driver. But in most cases, the second responsible driver comes with trial and error opposite to logic. That is why trying out all of the solutions of adding a second driver, whether it's your mum or brother will make you see the cost fluctuating.
Step 3 - Minimize Your Risk
In reality, insurance premiums (the payments you make to the insurance company) depend on risk, your particular situation and the pricing model of your car. If you are wondering whether the last place you parked your car matters, or reducing the mileage helps or even extra driving courses help, they all do matter and it is all up to the risk calculated by your insurance company.
Step 4 - Tell The Insurance Company About The Special Circumstances
Always be honest about your driving plans with your insurer. Whether you have made a clain in the past years or you spend 100,000 miles per year with your car, it is better to tell your insurer about any charges and plans and it will reduce the potential problems if it comes to claim, even if it is just your address responsible for it. The real reason why you should be honest with the car insurance company is that second chances are even tougher, more expensive and demanding - therefore you only get one important shot to get your car insurance.
Step 5 - Never PIMP your car
Maybe it looks good to you that way, but pimping your car with various exterior won't help the money saving process. The truth is - the more changes you make to your car, the security of it rises and therefore you get charged with more for your car insurance as a young driver. And in the event that you have already made modifications to your car, be free to inform your insurer - since not coming out about them may result in invalidation of your policy.
Step 6 - Set The Perfect Excess Without Overspending
The excess is the amount of any claim you need to pay by yourself. Therefore, a higher excess results in lower premiums by your side. However, the premiums must be affordable if it ever comes to the event that you have to claim, and claiming for less than 500 Euros of damage can both increase the future cost of insurance while invalidating the no-claims bonuses.
Exactly this is the reason you should not pay for lower excess and make sure your car insurance profits you in the best way possible.
Step 7 - Don't Lie To Your Car Insurance Company
We already mentioned how not telling the truth about your driving profile usually ends, and will say again - never lie to your insurer. The golden rule is always telling the truth and if you may found these steps to be easily lied on, you may be right - but lying is a fraud in its own form and can lead to your car insurance being invalidated. In such event, no one skips the thoughts about a possible damage to their car, right?
Step 8 - Tweak Your Job Information
Instead of an illustrator, write an artist or designer. Instead of an editor, you can go with journalist. These little white lies will help you get the better car insurance as a young driver however you should be careful to not be considered fraudulent. This has found to save loads of money and provide great discount on car insurance policies for drivers.
And if you are unemployed, you should definitely consider entering your job position as a homemaker, however only in cases when you are not seeking work or receiving benefits which require you to do so. In every other way, this practice is considered as a fraud.
Step 9 - Don't Renew Your Car
For example, if your car insurance policy yearly measures around 700 Euros or pounds, a car insurance renewal may be valued to 1200 euros/pounds. Renewing your car always comes with an increase in your premium amounts, with the logical knowing that inertia will stop the policyholders to switch. However, if your renewal is near, you should compare the comparison sites and call your insurer to see if they can match or beat the best estimate you have found.
Step 10 - Try multi-car policies
If you are living with a family and all of your cars are under one insurance, adding your car to your family car bundle is also a great and cost-effective way. Better yet, if you have vans or an RV, you can insure them together and get major discount on your vehicle. In fact, many car insurance companies offer discounts up to 30% for up to four or five cars, which is a fact you should consider with your family.
In the end, grabbing long-lasting quotes with a stable and slow rise is always the best scenario. Nowadays, there are many comparison sites that can zip your details to the hosts of insurers as well as brokers' websites and using your data in a fraudulent way. That is why you should only consider the biggest brands of car insurers as the ones to go for when insuring your car as a young driver.