Motor Insurance for Young Drivers

2008-09-01 13:53:15

( Insurance )



Young Drivers Have it Tough with Motor Insurers

Having earned your driver's license at age 17 is a major breakthrough, but this alone will not authorize you to drive on the streets. The vehicle you're driving still needs to be covered by a motor insurance policy.

But on their own, drivers younger than 19 may be forced to buy motor insurance at higher premiums. And to include a young driver as one of the insured motorists in a parent's insurance policy also automatically jacks up the policy premium. This is because young drivers are regarded as being inexperienced and presumed to stand a higher chance of getting into accidents, regardless of their driving skills.

Getting Around Tough Conditions of Motor Insurance for Young Drivers

The sure way to convince the insurer to lower your premium rates is for you to buy an old low-priced car. While it may mean forgoing that dream sports car you have been dreaming of, getting an older car for the meantime will minimize your chances of accidents or getting a speeding ticket. Moreover, you can continue to practice and perfect your driving skills using the old car. By the time you reach 19, you will have honed your skills just in time for a better car. Plus, you will have matured in terms of personal discipline and driving habits.

You should get a minimal third party cover which is the lowest priced insurance coverage, enough to protect you against damage or injury claims by other motorists. You might also want to buy additional cover for fire and theft for that extra inch of protection.

You must observe all driving safety measures and try your best not to get into any accident. You must also maintain your sense of discipline and follow all traffic regulations every time you are on the wheel. Even one traffic violation or accident can ruin your chances of getting a reasonably priced motor insurance once you are eligible.

If you still live with your parents, you can choose the option of being included as an insured motorist under their policy. This may be cheaper than getting your own policy.

Where to Get Motor Insurance for Young Drivers

Many reputable companies sell motor insurance for young drivers. Premium amounts may be similar but you should still shop around to compare motor insurance quotes and see if the insurer offers any special perks. The best way to start is with the insurer of your parent's car.

The good thing about motor insurance for young drivers is that you only need to wait a couple of years to be able to enjoy lower premiums. Many insurers do have a provision to give you a no-claims bonus which translates to further discounts on your premium for good driving record.


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