Save Money On Young Drivers Car Insurance

Published: 22 September 2011 By Peter Thompson 1 Comment

With car insurance premiums rising, particularly those for young drivers, opting for selected car models can help to save money.

Car InsuranceThe Confused/Towers Watson price index shows that car insurance based on a 17-20 year old male is now £4,006 per year for comprehensive cover, highlighting the need for research when buying a car.

According to Confused.com, the Ford KA2 is the cheapest car to insure for young drivers between 17 and 20 years old.

This is closely followed by the Peugeot 107.

The top 5 cheapest cars to insure for 17-20 year olds were found to be:

Make

Yearly Insurance Cost

Monthly Insurance Cost

1. Ford KA2

£1,651.40

137.62

2. Ford KA

£1,781.25

148.44

3. Peugeot 107

£1,994.42

166.20

4. Daewoo Matiz

£2,258.26

188.19

5. Mini One

£2,268.85

189.07

 

The top 5 most expensive cars to insure for 17-20 year olds were found to be:

Make

Yearly Insurance Cost

Monthly Insurance Cost

1. Honda Civic

£4,515.92

£376.33

2. Volkswagen Golf

£3,928.30

£327.36

3. Vauxhall Astra

£3,722.97

£310.25

4. Ford Focus

£3,677.06

£306.42

5. Renault Megane

£3,327.21

£277.26

 

As Gareth Kloet, Head of Car Insurance at Confused.com says: “Young drivers and learners are telling us that the cost of insurance is the biggest barrier to getting behind the wheel: more so than the cost of buying the car.”

MoneyHighStreet comments: “Clearly the opportunity to save money on car insurance by buying certain makes of car is something well worth considering. It is also important to make sure you buy the cover you really need and not just opt for the cheapest available.

“You can save money by carefully considering the cover you actually need – do you for example need fully comprehensive cover or will third party, fire and theft will suffice. Also what excess are you willing to pay and do you need a courtesy car should your car be off the road following an accident.

“There are also specific young drivers car insurance policies available that may be worth looking at. For example the Co-op have their Young Drivers insurance policy with which if you drive safely you qualify for Safer Driving Discounts to help reduce your premium.”

“Be aware too that it may be worth considering buying GAP insurance. Whilst another cost, this is designed to cover the ‘gap’ or shortfall between the amount you can claim on your car insurance and the amount you need to pay off on any fnance or to replace the car should it be written-off.”

Comments

One Response to “Save Money On Young Drivers Car Insurance”
  1. Young driver says:

    There is also iKube insurance – offers young drivers insurance in the same vein as the Cooperative but they’ve been doing it longer.

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