Choosing the Right Car
Some of you will already have this covered but for those who don’t it’s highly recommended that you research the market before you buy. A good starting point is to look into the Car Groups; these groups are set by insurers and they are spit into 50 groups (yes, 50 groups!). They are ranked into these groups based upon how expensive they are to insure, with Group 1 being the cheapest to insure and 50 being the most expensive. This should tell you that you’re not going to find a Bugatti or Lamborghini in one of the lower tier groups, or a Volkswagen Golf in Group tier 50 (unless it’s solid gold). So, you should try to aim for a lower tier group when it comes to choosing your car; anything more than Group tier 3 would be a push for a new, young driver (in my view) but this is down to your economic circumstances.
Take Advanced Driving Courses
It would be wise for you to consider taking extra lessons to help you before you start driving on your own. These extra lessons cover areas such as driving down a motorway, driving rurally (or driving in an urban environment for those who live rurally), differing weather conditions, etc. Taking these lessons will leave you with the skills to help you feel more confident when it comes to driving on your own and It may decrease your insurance premium. That depends on which insurer you go with though.
Time to Talk Insurance
This is possibly the place where you can get bogged down the most; there is just too much choice and it can be quite daunting. With your Third-Party only, Third Party, Fire and Theft and Comprehensive cover, curfews, high premiums and everything in-between, it can make insurance a tricky minefield to navigate. Some tips for lowering the cost on your insurance are lowering your mileage, adding a named driver and of course, a telematics policy. Let’s start with lowering your mileage; you should consider adding a mileage limit to your policy. This is good from an insurers standpoint because it gives you a limit of how much you can be on the road for, meaning you are less of a gamble (especially considering a significant portion of young drivers have an accident within the first 2 years of passing their test). Now, adding a named driver is good, especially one with a good insurance record, preferably one with a couple of years No Claims Bonus too! This can lower your premium but be careful, don’t make them the policyholder, this is called fronting and is illegal!
The Black Box Insurance Policy
This policy is worth talking about all on its own. The Black Box could be the best way you save money on your insurance. A Black Box is a small device fitted to your car which monitors your driving habits and location. It takes this information and passes it off to your insurer, letting them know whether you’re a safe bet or not, safer drivers might get a lower premium when it comes to renewal time. You can access this information yourself via a website so you’re not left in the dark on where you’re doing good and where you’re doing… not so good. Usually your insurer will call you if you’re doing very bad, giving you time to turn it around before your renewal. So, the better you do the more you will save! Some companies may put a curfew on your black box policy and also put a mileage allowance onto it, meaning you save more but as a result are more restricted as to when you can drive. Be sure to check with the insurer when you inquire about this though.
This is a time for celebrating, you’ve passed a huge milestone in your life, but there is still work to do before you can get out there and drive. Think about your car, your insurance, giving yourself extra training; these things are as important as passing your test itself, take them seriously for your own sake!