Those who are young and under 25 in the Uk are finding themselves having to pay exorbitant amounts for insurance just because of their age group. Since the UK law demands that all cars on the road are insured, the situation may seem to be rather unfair and altogether hopeless. The only other option you have, besides insuring your car, is giving the Accountant General of the Supreme Court a £500,000 deposit, says the law.
People under the age of 29 are responsible for 50 percent of the cars on the road that are not insured, which are one in every 20. It goes to show that young people will rather risk it with the law than pay hefty insurance costs, which is understandable but not a good idea.
Does cheap car insurance for young drivers in the UK exist? And if so, where can we find it?
Cheap car insurance comes in two forms, basically. The first is in the form of actual insurance companies which will give you a good deal. These can be found and most of them are online, which makes them quite easy to find. Most of them are actually online-only businesses, and offer all sorts of plans and discounts for young people.
The second is by employing certain methods or tips that will help you to drop your insurance price. Here are a few that will help:
1) Try the Pass Plus course
A Pass Plus certificate can drop your premiums down from 12 to 35, or even 40 percent. Plus, the added benefit is it gives you much more confidence and ability on the road. Where this pays off is in the long run – many insurance companies like those mentioned above will give young people a quick no claims bonus if they don't claim in a year, or even provide a 40 percent reduction if they keep your record clean in the first year. Pass Plus would help you to do this, because you would be more confident and able on the road.
2) Raise your excess
This is a tried and true method that helps you drop your premiums. Basically, your excess is the amount of money you need to pay in if you have an accident or need to claim. The higher the excess, the less your overall premium will be.
3) Drive a modest car
Fast or high performance cars are not looked at favourably by UK insurance companies. Modest cars are better. Young people are, according to statistics, more reckless on the road and often more prone to be convicted for drink-driving, so you can understand why insurance companies are not so keen on high performance cars.
4) Keep the car secure
You can lower your premiums quite well if you install an alarm, immobiliser, or even a krooklock in the car. What's more, if the car is locked up in a safe garage or is safe during the day, you can also lower your premiums.
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