Car insurance for young drivers is up 49%

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By Crispin Bateman
Updated on Wednesday 14 February 2024

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Are you a young driver feeling the sting of skyrocketing car insurance prices? You're not alone. According to Compare The Market, car insurance for drivers aged 17 to 24 has shot up by a staggering 49% this year, averaging over £2,000 annually. But fear not! At Compare UK Quotes, we've got your back with insider tips to help you slash those costs and potentially save hundreds, even thousands of pounds.

1. Add a responsible second driver

Consider adding a family member or friend with a good driving record as a second driver on your policy. This can significantly reduce your premiums by making you appear less risky to insurers. Experiment with different combinations to see which yields the best results. Just remember: never engage in 'fronting', which is fraudulent and could lead to severe consequences.

2. Embrace telematics technology

Take advantage of 'black box' or telematics technology to prove you're a safe driver and enjoy cheaper insurance rates. By allowing a device to monitor your driving habits, such as speed, braking, and cornering, you could receive discounts of around 15% at renewal. Check out our detailed guide on telematics for more information.

3. Opt for comprehensive coverage

Contrary to intuition, comprehensive coverage often comes out cheaper than third-party cover for young drivers. Selecting third-party insurance may signal higher risk to insurers, resulting in inflated premiums. Discover more insights into comprehensive vs third-party cover to make an informed decision.

4. Explore multicar policies

If there's more than one car in your household, consider a multicar policy to potentially unlock additional savings. Starting with one policy and adding others later is hassle-free, so don't hesitate to explore this option.

Bonus tips for maximum savings

  • Adjust your excess to find the sweet spot between affordability and lower premiums.
  • Ensure you're on the electoral roll to improve your insurer's perception of your reliability.
  • Limit your mileage realistically to qualify for reduced rates.
  • Choose a sensible car with good security features and low modification potential to keep costs down.

At Compare UK Quotes, we understand the struggles young drivers face when it comes to insurance costs. That's why we're dedicated to equipping you with the tools and knowledge to secure the best deals possible. Don't let exorbitant premiums hold you back from hitting the road - start saving today with our expert tips and innovative comparison features. Your wallet will thank you later!

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