7 ways young drivers can keep insurance costs down
Young drivers and parents have been told how to keep costs to a minimum amidst ongoing price increases inside the car and out.
Research by the experts at Quotezone.co.uk has revealed the five most popular cars for young drivers ranked by insurance costs and tips to keep costs down once on the road.
Sky-high costs of learning to drive combined with higher insurance premiums and new emissions costs for older cars, all hit younger drivers in their pockets.
And with food prices continuing to rise alongside out-of-control rental prices, experts have advised first-time car owners how best to navigate the market and keep costs down.
Buying the car itself is usually the biggest cost and five cars stand out for their affordability and popularity with younger drivers.
Data from Quotezone.co.uk shows the most popular car for 17-24-year-olds in the UK is the Ford Fiesta, followed by the Vauxhall Corsa, Volkswagen Polo, Volkswagen Golf and Renault Clio.
But despite being the third most popular car, the Polo is the cheapest to insure for young drivers at £966.04 per year with the Golf being the most expensive option at £1104.93.
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Most Popular UK Car Brands for 17-24 year olds |
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Cheapest Brand to Insure for that age group |
On UK Roads |
Average Estimated Insurance Premium |
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1 |
FIESTA |
1 |
POLO |
678,000 |
£966.04 |
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2 |
CORSA |
2 |
CLIO |
330,927 |
£998.11 |
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3 |
POLO |
3 |
CORSA |
1,013,000 |
£1008.47 |
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4 |
GOLF |
4 |
FIESTA |
1,463,000 |
£1067.66 |
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5 |
CLIO |
5 |
GOLF |
1,015,000 |
£1104.93 |
However, models can vary dramatically in their cost to buy and insure and the difference between a 1-litre Polo and a 2-litre STI GTI is £10,000 and can be challenging to insure.
The engine size isn’t the only factor as location, car modifications and previous penalty points and claims can all push insurance premiums up.
Quotezone.co.uk CEO Greg Wilson advised young drivers to research their first car thoroughly and get a clear picture of all potential costs before committing.
He said: “It’s quite complicated right now for those entering the car market for the first time, reviewing the most popular brands and wondering how to get what they want from their first car, yet keep the costs affordable.
“The best thing for new drivers to do when researching their first car is to make sure they do an insurance quote right from the outset.
“Comparison sites make that easy, simply refresh the car spec each time to see what’s affordable.
“It’s also important to remember that insurers will be looking at engine size, how easy it is to find parts and the cost of repairs for that particular model when analysing the risk and formulating premium rates – something drivers should also be aware of and take into consideration when choosing a new car.”
Quotezone.co.uk’s Tops Tips – How Young Drivers Can Get Cheaper Insurance
1. Check your mileage
When taking out insurance, you will be asked to estimate your annual mileage. The costs will rise in incremental bands so the more miles you drive, the more you pay so try to be accurate and realistic with your prediction.
2. Park in a safe place
Car owners that make use of their garages, driveways or carports for overnight parking can make big savings on their car insurance - parking on driveways rather than on the road can save you over £140 on average every year. Carport owners can do even better, with savings coming in at £230 on average.
3. Avoid penalty points
Penalty points on your licence may not only result in a steep fine but will also bump up your insurance costs too. Drivers can expect premiums to rise by 5% for three points and 25% for six points if they’re starting from a clean licence.
4. Consider switching to a smaller engine
Be sure to check your vehicle's engine size and horsepower, both can impact the cost of your premium. Also, some small engines are turbocharged and that can give them more power than might be expected, which will likely cause the premium to increase.
5. Keep modifications to a minimum
It comes as no surprise that adding a custom exhaust or putting in lowered suspension might cause insurance premiums to rise, but even seemingly innocuous changes such as adding branding to a vehicle can affect the cost.
6. Consider a black box
Young drivers or those with penalty points may be able to get cheaper insurance by opting for a telematics policy, or black box insurance - which starts collecting data on their driving immediately, if they’re a good, safe driver, this can help the insurer see you as less of a risk and may result in a more competitive price.
7. Shop around for insurance
Car insurance is competitive and it’s always worth shopping around to get the best deals, three weeks before your policy is due to expire is usually when it’s the most competitive on cost and never allow your policy to auto-renew.
If you’re looking for insurance for learner drivers or young drivers, Quotezone.co.uk can help.
The data uses a random sample of over 40,000 car insurance policies throughout 2022 across the UK, within the 17-24 age group.
