Grabbing a better insurance deal at a nominal rate is always a dream for a new driver, isn’t it? Being inexperienced on the wheels could lead you to pay a higher amount for purchasing car insurance. But, don’t worry because there are some insurance companies that could charge you for insurance just like any other driver. The best way to find them out is by researching & comparing prices from multiple insurance providers.
In this article, I’ll be taking you through some actual data that could help you make an estimation of how much a new driver can expect while purchasing car insurance. Rember that the actual price could vary according to the demographics, gender, age, etc.
How Much Is Car Insurance For A New Driver?
The car insurance companies usually charge higher for an insurance policy for an inexperienced or new driver. It is because they are more likely to get into accidents. When you go for a car insurance policy, the insurer will weigh more on your age and driving experience. If you are under 25 or inexperienced, you may have to pay higher for the policy.
The price of insurance depends on multiple factors, these are as follows;
- Age of the driver
- Gender of the driver, in this case, new male drivers could pay a relatively higher price compared to the new female drivers.
- Marital status
- The type & features of your vehicle impact the insurance price
- Credit score(Poor credit score will lead you to pay a higher price)
- Driving history
- Coverage limits
Best Car Insurance For New Drivers Under 25
You can estimate your insurance policy price for new drivers under 25 from the given price in the image.
Best Car Insurance For New Drivers Over 25
If you are over 25 and tried your hands on the wheels for the first time, then your estimated insurance prices could be determined from the below picture.
Tips To Cut Down Expenses On Car Insurance For A New Driver
With the above images, you might have estimated your annual premium for the insurance policy for a new driver. But, there are also certain ways you can cut down these expenses if done smartly. So, these are the things you can do in order to save a few pence on car insurance;
1. Research & Compare
This is the first thing almost every one of us does when we plan to purchase something. We always try to find a store that provides a better deal than the others in the market. The same thing you have to do in this case also. To purchase an insurance policy, you must go research and compare the prices of multiple providers. For this, you can go to various online platforms and compare the prices that suit you.
2. Always Look For Discounts
There are several car insurance companies out there that offer discounts for young drivers and students, but this is not only that. You can also avail extra benefits like homeowners insurance with your auto coverage can lower your premium, so check to see if your insurer offers a multi-policy discount.
Here are some of the discounts you should look for while purchasing a car insurance policy for a new driver;
- Safe driver discount
- Multi-policy discount
- If you have multiple vehicles, then you should choose a single insurer where you get your insurance for all your vehicles, in this case, you could call for a Multi-vehicle discount
- If you are military personnel, then you could look for a Military discount that is often provided by the insurer
- New vehicle discount
- Vehicle safety feature discount
3. Opting For Higher Deductible
If you are a safe driver who avoids accidents, it’s not a bad idea to bet on yourself. If you opt for a higher deductible, it could effectively minimize your annual premium on insurance. But it could lead to paying more upfront if you file an insurance claim.
4. Drop out unnecessary coverage
This is also a good choice if you want to minimize your expenses on car insurance. If your car is old then you can choose to drop the unwanted coverages like comprehensive coverage, etc. It can lower the annual premium of your insurance policy.
See, it is always a higher pay for a new driver in terms of purchasing a car insurance policy. The insurer will also look for their profit, so they can not provide a policy at the same price to both new & experienced drivers. It is because the new drivers are more prone to road accidents, thus it could be a bad deal for the insurer, as they will have to reimburse the cost more frequently as compared to that of the experienced drivers.
So, the best way for young drivers to get cheap car insurance is to stay on their parents’ policies. Otherwise, you can get it by using the above-mentioned methods for grabbing a cheap deal on a car insurance policy.