Is Cheap Insurance for Young Drivers a Myth?

Does cheap insurance exist, or is it merely a myth?

The truth is that there are, quite literally, hundreds of insurance companies in the UK, and many of these are looking to offer cheap insurance for young drivers. Where the problem is, for most of us, is we find it difficult to shop around for many reasons – we're too busy, or we honestly have better things to do.

But putting in some effort into shopping around for cheap insurance pays off in the end in a myriad of ways – especially your pocket. Your mates will definitely be envious of this fact, and any slog in finding cheap insurance now will be well worth it then.

Recent research shows that of the 34 million cars on the UK roads, motorists are losing approximately £1.9 billion pounds a year (collectively) on their insurance policy. In other words, motorists could be saving that money if they only shopped around and looked for a better deal. Many of us, though, will just grin and bear the heavy prices because we don't know where else to go anyway.

The truth is that just because, perhaps, you found a good deal with an insurance company last year, things change. You now can probably find an even better deal, but most of us would rather not go through the effort.

So, if you currently have insurance, you should phone your insurance company and ask for a re-quote. Your car has dropped in value in the last year or few months, plus you have added some mileage, and you can often benefit from this fact. You basically need to see what they would offer you if you were a new customer. New customer's get good deals because the insurance company wants their business – but this is no reason why you should suffer just because you have been with them for a while.

Now, if you have insurance or don't, consider the age and value of your car. Perhaps you should drop your cover from Full Comprehensive to Third Party Fire & Theft. If you are just getting in on the insurance market, consider whether your car really needs Fully Comprehensive – which is the kind of plan most insurance companies are going to try and sell you. Consider if you really need all they give you carefully before you make a decision. Sales people on the phone are trained to try and get a decision from you quickly.

Also, consider the age of your car now. Do you still need a Fully Comprehensive plan? If you calculate how much your car has dropped in value then you shouldn't be paying a very expensive premium price.

You should take advantage of no-claims records. If you have a clean record, especially as a young driver, then you should ask your insurance company what they are going to offer for you. Many insurance companies are now offering discounts as large as 40 percent if you can show a year's clean record. This means you can drop your premiums quite well within a year.

CHEAP CAR INSURANCE FOR YOUNG DRIVERS - GET A QUOTE NOW