Car Insurance for Teenagers
The prospect or the reality of buying car insurance for teens aren’t nearly as exciting as being a teen newly licensed. Without the insurance, however, no licence along would ever allow you to drive legally in the UK: You must have both a valid licence and valid insurance. The minimum required by law is third-party cover, which protects others against damage or bodily injury if you cause an accident. However, if you buy a vehicle via an auto loan, you will probably be required to purchase and maintain comprehensive cover whilst the loan is outstanding. Comprehensive insurance offers extended benefits offered by both third-party cover and third-party fire and theft policies, then adds considerable coverage on top, like benefits to repair your own vehicle in case of a covered incident.
Teenagers attempting to find affordable cover often feel frustration and aggravation, for cheap car insurance for teenagers can seem non-existent. However, not all hope is lost. Although young drivers account for a great number of accidents due to their inexperience, speciality carriers may offer discounted rates for that targeted market. Affordable rates are quickly found when you compare multiple insurance quotes for teenagers from a collection of trusted providers. The lowest premiums seen on car insurance for teenagers are often from those speciality carriers who might also offer great discount plans to entice your business. These speciality carriers understand the risks whilst you are learning how to drive and to drive safely.
When to Buy Teenage Auto Insurance
UK law allows you to apply for your provisional licence when you are two months from your 17th birthday. However, you cannot actually drive until you have reached that benchmark date. When you do drive, you must have with you a driver who is at least 21 years old who has been fully licensed for three years. This supervisory driver must be able to take the wheel at any time necessary. Even if you borrow your parent’s car or a friend’s car to practise supervised driving, the vehicle driven must have an L displayed, annotating “learner.”
The moment you sit behind the wheel and start an engine, you must be covered appropriately by car insurance for teenagers. If you are named on another person’s policy, you don’t have to carry your own, but you must be legally covered on valid insurance, whether that car belongs to a family member, a friend or even a driving school. However, when you purchase a car that has you as the registered owner, you must carry your own insurance for which you are primary or the regular driver. That’s when those speciality policies come in especially handy with discounted rates for provisional drivers.
You can actively reduce prospective or actual premiums, however. Buying a low-risk auto mobile that is low-powered and fuel-efficient will earn lower premiums than a performance or modified car, for example. The low-insurance-band cars usually also cost less to buy, to operate and to maintain as well, so cost savings aren’t just in insurance. Speciality carriers help with that last expense incurred. Often, speciality carriers entice teen business by offering well-discounted, comprehensive insurance.
When you complete an entire policy term without filing an accident or theft claim, for instance, the insurance company could instantly lower your premiums when you renew your cover in a show of appreciation for your safe driving. No claims bonuses and discounts can accumulate over a life of driving to up to 70 per cent or more on your insurance costs.
Monthly Auto Insurance for Teenagers
Your maximum premium payment discount will come by paying a policy term in full with one payment. Most teens don’t have that financial backing, though, and must opt for periodic payments. Monthly car insurance enables teens to pay smaller amounts at regular intervals, making the cover costs more manageable, even with a small deposit that may be required. Just know that over time, you actually pay more on a monthly basis than you would if you made a one-off payment for the whole term.
You can reduce the cost of car insurance by increasing your voluntary excess, and that discount would apply on a one-off, annual payment or with monthly instalments. By paying more before your insurance picks up, you reduce the financial burden of the insurance company, and that reduced load results in lower premiums. Additional reductions are possible by taking and passing the Pass Plus course that expands your driving knowledge and experience. Discount possibilities don’t stop there, however. Parking in a garage or a secure area reduces risk of theft or vandalism. Using insurance-approved security devices also reduce those risks, so contact your provider for their recommendations, then provide the proof you utilise these: Every action you can take to reduce risk factors helps. So does adding a mature driver to your policy. Seek discounts where you can!
Quality car insurance for teenagers shouldn’t cost more than a new house, as it sometimes seems to. Minimise expense by minimising risks. Drive carefully, conscientiously and responsibly. Seek speciality cover that offers cheap rates for teenagers and take every opportunity to maximise your savings as you learn to drive and build an excellent driving record.