How much will car insurance cost me at 18?

16 October 2018

It’s doubtful that you’re expecting an astonishingly positive answer to this question. We all know that young and first-time drivers don’t get the same breaks as those who’ve been on the road for a number of years. But, looking into the cost of insurance is exactly the right thing for you to be doing at this time. The more you know, the better chance you stand of getting the best deal for you.

First of all, well done. Not only on looking into your insurance possibilities, but on being patient, learning to drive, and putting yourself in the position to be insuring a vehicle. Now that you’re roadworthy yourself, let’s help you work out exactly where you stand. Insuring a vehicle - not just for the first time - can certainly be a daunting, confusing process, so the following information and advice will hopefully help you out.

Young driver concentrating

Will my insurance be expensive?

Young drivers appear to be given something of a raw deal by insurance providers. This is because statistics show that drivers under the age of 25 are far more likely to be involved in an accident than those who have been driving for longer. Part of this is down to risk management. The higher the risk, the more likely an insurance provider will have to pay out, and the higher the cost of the insurance becomes. You can find out more about what constitutes risk right here.

But this is not the only factor in how these decisions are made. A young driver will not have had the chance to build up a no claims bonus, which can net drivers a big reduction on car insurance, over time. Every year without a claim leads to a discount on the following year’s premiums. A great place to start saving money therefore, at least for the future, is to avoid adding to the statistics and driving safely.

But can I make it cheaper now?

Thankfully, there are a number of ways you can soften the blow on your finances. Adding another, more responsible (and therefore less risky) driver to your policy, for instance, can keep the cost down. The secondary driver’s history will be taken into account, of course, so choose (and of course, drive), sensibly.

Similarly, if you are in a household with several vehicles, you could try a multi-car policy. Insuring several vehicles together can be viewed favorably by an insurer, who will of course be looking at more business. This will come down to either insuring multiple vehicles on one policy, or hopefully receiving a discount for opening multiple policies with the same insurance provider.

However, neither of the above methods will save you money if you simply accept the first deal you find. Using the same insurance provider as your named secondary driver or family member, for instance, probably won’t lead to the best deal for you. Imperative to reducing the cost of your insurance therefore, is taking the time to work out who will offer you the best value for money.

Make sure you compare quotes for young drivers insurance, and give yourself a broader range of insurers and offers to choose from, before you make your decision. This will give you a more comprehensive idea of what sort of annual or monthly prices you will be looking at, as well as any special offers that might come with each policy.

How else can I keep costs down?

There are many other positive things you can do now, that will help to reduce cost of future insurance policies. For starters, avoid making any modifications to your vehicle. Even aesthetic modifications, like adding alloy wheels, can impact the cost of your insurance. Not declaring modifications to your insurance provider may also completely invalidate your existing policy.

However, there is one modification you can make that could improve your future premiums. Telematics, also known as ‘black box car insurance’ use data gathered from your own driving habits to assess how well you drive. Just like an insurance provider will use a combination of data to assess your risk, Telematics monitors your behaviour behind the wheel. No doubt you don’t consider yourself the high-risk driver that you are expected to be, and Telematics could help you prove it.

Where you keep your vehicle, and how secure the location is, can also impact your premiums. Adding an immobiliser or alarm, and making sure your vehicle is parked on a driveway or in a locked garage, ensures greater deterrent to potential theft, or damage. This in particular is a very simple way of reducing your overall risk factor to insurance providers, and helps keep your vehicle safe in the process.

Will my future premiums be cheaper?

If you continue to do all the right things; keeping your driving license clean, avoid making any claims on your policy, maintain your vehicle and paperwork properly, and, of course, keep it safe, you will not always be in the unfortunate position of paying higher costs for insurance. While an insurance provider may not automatically categorise you as a low risk driver for a number of years, they will be able to see that you are doing everything you can to avoid having to make a claim.

Don’t forget, insurance providers exist to sell policies, so they won’t want to lose your business - especially as you repeatedly prove that you are the exact sort of customer they want to insure. However, you still have the best chance of getting the best deal on your car insurance, at any age, by shopping around and comparing deals. At Call Wiser, we work with a number of the UK’s leading insurance providers, ensuring that we can find you the best deal possible, even at 18. We look forward to hearing from you, and seeing you on the road.

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Call Wiser is a trading name of Be Wiser Insurance Services Ltd. Registered in England No. 6097813. Be Wiser Insurance Services Ltd are Authorised and Regulated by the Financial Conduct Authority 465471

Call Wiser, Riverside House, 35-37 Bridge St, Andover, Hampshire, SP10 1BE, 0333 003 3270, general@callwiser.co.uk