You’ve passed your driving test – congratulations! Now it’s time to find your first car and navigate the world of insurance, which can be confusing for some and often quite pricey as it’s your first time on the roads.
For many drivers – experienced or new – car insurance is their biggest expense. It can feel overwhelming at first but rest assured that you can keep the costs down. You may be surprised at how simple adjustments can lead to significant savings. While you may not have experience on the road yet, there are some smart choices you can make to lower your premiums.
To black box or not to black box?
If you’re looking for a way to reduce your insurance, a black box might just be your new best friend. It’s a small device installed in your car that monitors driving behaviour; things like speed, braking, and how smoothly you take corners. Insurers often reward safe driving with lower premiums, so showing that you’re a careful driver could result in significant savings.
Not all black box policies are the same though. Some come with stricter rules such as curfews or limits on the number of miles you can drive. Always read the small print before making any commitments.
Adding experienced drivers
One way to drop the cost of your premium is by adding an experienced driver to your policy. Why is that? Well, insurers now see you as a lower risk because you’ll have someone with a good record in the car with you. Young driver insurance is worth considering in this case, as it often offers specific policies for drivers who are just starting.
Don’t just add anyone to your policy though. Adding someone who rarely drives your car could invalidate your policy so be honest with your insurer about who is driving and how often.
Increasing voluntary excess
Voluntary excess is the amount of money you agree to pay upfront in case of a claim, and by raising your excess you can lower your premiums. This approach works well for drivers who are confident in their driving abilities and don’t expect to make a claim frequently.
You never want to think about making a claim but if you have to, such as in the case of a car accident settlement, you’ll have to cover the higher access so make sure you’re comfortable with the amount you’ll need to pay.
Low insurance groups
Another way to keep your insurance costs down is by choosing a car that falls into a lower insurance group. These range from 1 to 50, with 1 being the cheapest to insure. Cars in lower groups tend to be less expensive to repair and have fewer risks associated with them, so they come with lower premiums.
When you’re shopping around for your first car, prioritise models in the lower groups because this is one way you can save money in the long run. Popular cars for new drivers vary but you may want to consider the likes of a Ford Fiesta or Vauxhall Corsa.
