Car insurance for young drivers with fast cars
- Men vs women and car insurance costs
- Tricks and traps: How to get better car insurance offers
- Blackboxes - Pay how you drive
- Pay when you drive
- Dos and Don'ts
- Want to see prices now? Use our car insurance checker HERE.
- Can I pimp my ride or drive a fast car?
- Parents and fronting: Remember the small print
- Your Options - Compare types of policy:
- Want to save more money on your cover?
- Teenage Car Insurance
- Car insurance for teens & young drivers
- What's the cost of teenage driver insurance?
- What risks make teenage driver insurance more costly?
- What's the best car for teenagers to insure?
- How to Get a Lower Premium
Car insurance costs are on the up, after it emerged that following a steady period of declining prices, premiums have now gone up for the first time since June 2011.
Drivers can expect to fork out a hefty £582 a year for cover, according to car insurance provider Confused.com
But for the under 25s, that is a drop in the ocean – on average youngsters now pay about £1,911 for car insurance - although this is down by £792 since this time last year.
Despite that high cost, many younger drivers still want the freedom of being behind the wheel. We explain how they can try to beat the high insurance cost trap and we also reveal how it can be possible to drive something more fancy than a tiny-engined hatchback and still keep costs down.
Peeling off the plates: Insurance for young drivers comes with sky-high, we explain how to cut them.
Men vs women and car insurance costs
Until fairly recently, female drivers have been offered some respite from high costs, as they are seen as much safer - this is especially true for younger drivers. Firms have even set up with the specific purpose of offering cover to women, with the likes of insurance firm Sheila’s Wheels making the most of their better claims history.
But the days of cheaper premiums for women are numbered, thanks to a European Court of Justice ruling, which says insurers cannot charge men and women different premiums because it constitutes discrimination.
The change came into effect on December 21 2012 and the younger you are, the bigger the impact.
So, with both men and women under 25 in the same boat for the first time, here are some tips to secure your cheapest car insurance option.
- Young women's car insurance 'will rise' by £300 - but men could see a £180 drop as EU gender ruling hits
- Women's car insurance premiums to rise but a third remain 'unaware'
- Car insurance premiums driven down 2.9% in three months
Tricks and traps: How to get better car insurance offers
- Compare prices Use an online comparison service to do the hard work for you. Put in your details and check the prices that come up. You can alter the excess that you are willing to pay and the mileage you will drive and get new quotes. Also check the insurers that don't feature in comparison sites, the big two are Direct Line and Aviva. This is Money's car insurance search is powered by MoneySupermarket and will search more than 130 insurers for you. Try it out here.
- Haggle! The car insurance market is notoriously competitive. Once you've been on This Is Money's comparison and found your cheapest price (below), get on the phone and start bargaining!
- Avoid paying monthly charges - direct debit installments generally come hand-in-hand with high interest rates. An alternative is to borrow the money on a 0 per cent purchase credit card and then clear it within a year. [Check the best 0% purchase credit cards here]
- Think outside the box: An accelerated no-claims bonus, such as Admiral's Bonus Accelerator, could give you a year's no claims bonus after just 10 months.
- Or, if you've previously been insured as an additional driver on another policy, see if you can transfer a no claims bonus to your own insurance coverage. Some insurers do this, including Direct Line.
- Try for a discount by insuring two or more vehicles between friends or family members with the same firm.
BLACK BOX: SOME OF THE BEST
- Anti-theft tracker installed in your car for free
- Online drivesafe dashboard 24/7 to check your score
- Courtesy car while yours is repaired
- Dedicated UK claim line available 24/7
- Free telematics device and free installation
- Curfew and non-curfew policies available
- Locate your car if it's stolen
Co-op Young Driver Insurance
- Free box and installation
- Online dashboard to check your driving
- Telematics box to measure your driving style
- Comprehensive insurance policy including windscreen repair
- Theft tracking
- Courtesy car while yours is being repaired
Bell from Admiral
- Free tracker with 24/7 theft hotline
- Access to personalised online driver dashboard
- 24/7 accident and glass repair helpline
- Courtesy car while yours is at an approved garage
- Premium fixed for the year with no curfews and no fines
- Acts as theft tracking device
- Dedicated UK claims line available 24/7
- Courtesy car while yours is being repaired
- Free telematics box/theft tracker installed
- Driving profile saved on your personal online portal
- Comprehensive policies
Blackboxes - Pay how you drive
If you are a good driver, and are happy to prove it, you could get money off by installing a telematics device, or ‘black box’, which monitors how you drive.
As an example, The Co-op's young driver insurance policy includes fitting a box into 17-25-year-olds' cars to monitor acceleration, braking, cornering and time of driving.
It then charges for insurance every 90 days, taking into account any discounts or loadings.
Although bad driving could see your insurance cancelled, research carried out on behalf of the Co-op claims the service benefits young drivers who drive well, with 82 per cent of young drivers saving claiming a safer driver discount.
Pay when you drive
The system is simple: A tracking device is fitted to your car and the less you drive, the less you pay - another option for young drivers looking at ways to keep costs to a minimum.
iKube is aimed specifically at 17-25 year-olds, who don't often drive between 11pm and 5am, with fees charged for driving outside of hours.
Those that choose Insure The Box pick either a 6,000 or 8,000 mile per year policy, but earn extra miles by driving safely - or buy more online.
Coverbox also offers a 'pay as you drive' scheme. Although not specifically aimed at young drivers, it does offer some under 30s £50 cashback.
For low mileage drivers these schemes can cut costs, especially if you don’t drive at night (11pm - 5am), when the price per mile is bumped up.
Dos and Don'ts
DO compare prices for third party and fully comp. Although third party insurance should be cheapest for young drivers as it offers a lower level of cover, this isn't always the rule.
Check BOTH using our comparison table (below).
DO think about adding a second or even third driver to your insurance, especially an older more experienced one. This can even out the average risk - which could mean cheaper insurance of up to £1,000.
Although the obvious people to add are those with a long track record of good driving, you may be surprised - anyone that's in a lower risk category than you can help. Younger drivers with a job perceived by insurance firms to be lower-risk can shave off pounds from your premium - strangely, some claim adding younger siblings, on a provisional license, helped to cut costs.
DON'T confuse this with 'fronting', which is illegal - see below.
DO see if you can get cashback via a cashback website to reduce the cost.
DO, once you’ve tried our comparison site, check specialist young driver policies to see if they undercut them. And:
DO try a specific young driver broker. Swinton's Young Driver Insurance is worth checking out, as are A Plan, Thames City, Only Young Drivers, Adrian Flux and Endsleigh.
DO check your occupation. When you are asked to give your job title in the application process, there may be a number of options that apply to you so try them all to see if it makes a difference. But bear in mind that if you choose an occupation that couldn’t reasonably apply to you and is likely to be considered fraudulent, your cover could be invalidated.
Want to see prices now? Use our car insurance checker HERE.
Can I pimp my ride or drive a fast car?
'Wow' factor: How to avoid taking out a second mortgage to get on the road?
The more powerful your engine, and the more changes you make to your car (unless they are for security), the more you'll be charged.
But, if you are under 25 and you just can’t imagine life without your high-powered SUV, or a sporty little number,here are some suggestions to avoid insurance premiums high enough to make Donald Trump weep.
• Shop around - comparison sites can be good for standard risks, but a young driver with a powerful car will not tend to do as well on these sites, compared to a specialist broker who has negotiated a scheme specifically for this market (examples below).
• Will you only drive a few thousand miles a year? Try a limited mileage policy.
• If you've passed your test recently, get yourself a PassPlus, IAM or Max Driver qualification and then insurance firms, such as Adrian Flux could knock off up to 25% - which means hundreds of pounds for teenage drivers. Many councils offer discounts of up to 50 per cent on the price of the course. Visit Direct Gov for more information.
• Got mods? Make sure you tell your insurance firm about all modifications to your vehicle, and check how they would affect your price before you do them, even if they don't enhance performance. If you don't, your insurance could be invalidated. Some mods might even reduce your premium.
• If you've been riding a moped, scooter or other motorcycle, ask if you can transfer your no claims bonus to your car policy.
• Are you in an owners club or online forum? If not, think about joining one. From an insurer's perspective, people who are enthusiastic about their car and learn all they can about it will take better care of it. Even better, discounts can be as much as 15 per cent.
• Keep your car garaged if you can. Fitting a security device such as an alarm or an immobiliser will also lower your insurance bill, sometimes substantially.
• Don't be a teen racer The more points you have on your license, the higher the cost of your insurance. One speeding conviction could bump up your premium by around 10 per cent, but two may cost you up to 25 per cent more. If you have a conviction for using a mobile phone while driving, it can increase your premium by a whopping 50 per cent.
• Don't go for a modern car if you want something a bit less ordinary Insurance premiums for 'classic cars' are often discounted, although running costs may be higher.
For example, managing director at insurance consultants Osborne & Sons David Button, recently charged £677 for a young driver's two-litre Westfield sports car.
The driver, a 23-year-old from Norfolk, was prepared to drive no more than 3,000 miles a year. He could also have been entitled to a 10 per cent discount for being an owners club member.
However, Button was keen to make clear all circumstances are different.
Classic car insurer Footman James has recently launched its young enthusiasts policy. If you can prove you are not just looking for a cheap policy and you have a genuine interest, those as young as 17 can get a cheap insurance policy on their classic.
So, despite the challenges, reasonable prices for modified or powerful vehicles are achievable; quotes provided to this Is Money by specialist car insurer Adrian Flux also demonstrate that investing in your street cred doesn't have to decimate your bank balance.
ADRIAN FLUX: CORSA VS A BMW FOR A 24-YEAR-OLD
24-year-old with four years' NCB, no accidents or convictions and living in a 'medium rated' area.
For a Vauxhall Corsa 1.0
Comprehensive cover: £550 with £400 excess
Third party fire & theft (TPFT): £370 with £250 excess
For a BMW 320
Comp: £900 with £500 excess
TPFT: £580 with £350 excess
Spokesperson Matt Ware adds: 'Anything that increases the power output of the car will attract a commensurate increase in premium. Examples would be chipping, exhaust systems, air filters etc. So if you increase the power by 20%, expect a 20% load.'
Other examples include HIC Insurance's modified car quotes, below.
HIC: MODS ON PEUGEOT 306 XSI
Peugeot 306 XSi
Modified: Alloy Wheels,
Exhaust, Lowered Suspension,
Car value: £3,500
3 Years NCB
£533 fully comp
HIC: MODS ON FIAT PUNTO
Modified: Alloy Wheels,
Body Kit, Clear Lights,
Rear Roof Spoiler
Car value: £4,000
1 SP30 conviction
Parents and fronting: Remember the small print
- Unsuspecting mums and dads looking for cheap deals could find themselves facing court proceedings for ‘fronting’ – WHICH IS ILLEGAL - if they falsely declare to insurance companies that they drive their car more than their son or daughter.
The consequences can be serious as fronting invalidates insurance and can lead to prosecution.
Insurance companies may even refuse point blank to add a youngster to a policy if they believe he or she is intended as the main driver. It could also cause huge headaches if a claim is made - with some firms refusing to pay out.
- One option for parents looking to cut costs is to add under 25s to insurance policies on a temporary basis - from one day to a few months - if they are visiting or at home from university. Short Term Car Insurance Under 25, offer tailored policies for young drivers, but the AA and eCar Insurance also offer good short-term options.
Learner drivers: What are the costs of insuring them?
LEARNER DRIVER INSURANCE
Learning to drive puts enough strain on the parent/teen relationship as it is - and that's before they knock the wing mirror off your prized BMW.
One way to ease the strain is to take out a specific provisional driver policy, rather than adding a learner driver to parents' or friends' car insurance which can up the cost, and put no claims bonuses at risk.
Provisional Marmalade and Endsleigh do just this. Provisional Marmalade also has a logbook scheme which you can complete to get a £100 discount if you move to Young Marmalade when you’ve passed.
At QuantumCars.co.uk, we are confident we can help save you money on your car insurance, just fill in our simple, no obligation quote form and compare prices from 90 different companies – instantly!
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- Great value deals – You’re unique and so are your requirements, so we’ll help you find the best quotes that fit your needs perfectly.
- Specialist cover available for kit cars & track day cars, classics & replicas, high performance & sports cars, imports, convicted drivers & young drivers.
- Consistently low prices – By examining market prices daily through an advanced comparison system that links to all the leading UK providers.
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Your Options - Click HERE to compare types of policy:
Your Options - Compare types of policy:
There are 3 main types of car insurance policies, ‘fully comprehensive’, ‘third party’ cover and ‘third party fire and theft’cover. For the cheapest cover, third party is the way to go but to be on the safe side it is always advisable to take out fully comp cover and this is the most popular option in the UK. Please see our guide below:
Fully comprehensive offers the best UK vehicle protection including benefits such as covering any damage to other motorists vehicles and property, replacement of broken windscreens or repairs and cover for the stereo system in the car. You are also fully covered for any injuries sustained by yourself or any other third parties, motorists and pedestrians and you have the bonus of your car being either repaired or replaced in the event of an accident or it gets taken by a car thief so your budget is safe.
Third party fire and theft is a more risky proposition as the cover is nowhere near as extensive as fully comp. If you accept its limitations it is the best option if you want to get the best value cover possible in the UK. as the name suggests, your car is covered for any damage by fire and any theft of the vehicle. You are also covered if your car causes injury to other road users. As with fully comp, you are covered for any damage to property or other vehicles but you are not covered for damage to your own vehicle.
Third party only cover is the best budget car insurance option but offers only the bare minimum legal cover to use your car on the road in the UK. Third party cover is there to safeguard other road users and pedestrians who may be caught up in an accident that is your fault. Many younger drivers take out this type of cover as it is the cheapest option available but older drivers also select this cover if the value of the car does not justify the increase in premium. Its always a good idea to have a full comparison available but the main thing to remember is if you cause an accident or your car is stolen there will be no payout coming your way to cover the costs. Can you budget for this?
No matter what kind of car you drive and cover you need, we aim to help save you money.
Want to save more money on your cover?
A great way to save money and get cheaper cover is to shop around, but there are many other things you can do to get a cheaper quote if you are on a budget:
- Watch the monthly payment plans! – if possible, pay your premium in one lump sum. Be aware of the often high amounts of interest added on to your policy if you opt to pay in instalments.
- The cost of your cover can vary throughout the month! Compare quotes online a few weeks before its due to be renewed and go to the 4 cheapest insurers websites, you can then save these cheap quotes and recall them up to 28 days later (many insurers will stick to their original quote). A few days before your renewal is due, revisit these sites and re-run your quote. If the quote is cheaper, brilliant – you’ve saved more cash. If not, just recall your saved quote and you could still be able to get the cheaper price you were quoted a few weeks back!
- With age comes great experience (and cheaper cover)! Obviously you can’t change your age (although we may wish we could sometimes…) but simply adding an older driver such as a relative with a good driving record as a named driver on to your policy can reduce your quote significantly – give it a try and see!
The comparison service compares over 90 providers quotes, simply and securely. Just fill in one easy quote form or pick up the phone to get a great deal on your car insurance today.
Thousands of satisfied drivers have used the comparison technology provided by our partners to find great a deal, so put it to the test and compare the market now.
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Teenage Car Insurance
Car insurance for teens & young drivers
Save money on your teenager's car insurance - at 4 Young Drivers it's what we specialise in, so we can quickly help your teen find a cheaper quote for the cover they need. We’ve teamed up with Marmalade to provide an annual telematics (black box) policy.
We understand how hard it is for teenagers. Whether you’re still learning to drive or just passed your test, insurance at that age can be expensive. Until you have a bit more experience under your belt, you’re seen as a much higher risk.
Statistically, this is true – unfortunately this age group does have more accidents. Luckily, 4 Young Drivers has access to a wide range of insurers willing to look at teen drivers as individuals rather than a statistic, so we can find the cheapest insurance policy in a fraction of the time it would take you to trawl the internet yourself.
Get a quote online
What's the cost of teenage driver insurance?
Unfortunately there's no average cost for teenage driver insurance. It very much depends on the risk factors and these can vary from person to person. But use the quote button to get a no obligation quote that takes just a few minutes.
What risks make teenage driver insurance more costly?
Insurance companies take various factors into account, including your age (i.e. whether you're 17, 18 or 19), how long you've been driving, whether you have a clean driving licence, the type of car you are insuring and the area you live in.
What's the best car for teenagers to insure?
Any car which poses a lower risk of an accident or less of a temptation to thieves will be cheaper to insure. So choose a car with a good safety rating (newer cars have better ratings, if you can afford one), a smaller engine and good environmental credentials. Avoid fast, sporty cars, cars that are expensive to repair and cars that are often targeted by thieves.
How to Get a Lower Premium
If you’ve recently passed your test, you can take part in the PassPlus scheme. PassPlus is a practical training course aimed at helping newly qualified drivers develop their driving skills and drive more safely.
Insurers recognise that teenage drivers who complete PassPlus are committed to driving responsibly and this may help you to get a discount.
- Learner Driver Insurance
- Student's Car Insurance
- New Driver's Car Insurance
- PassPlus Driver Training
- Should you take your car to University?
- Rules for Learner Drivers
- Rules for Supervising Learner Drivers
- Should Young Drivers Insure Their Car in Their Parent's Name?