Car insurance can be expensive for a younger driver. This is mainly because insurers see younger drivers as a risk due to their lack of motoring experience. However, the risk of being without insurance can be even more costly if you’re in an accident.

There are different types of car insurance policies so you have to establish what your needs are and ensure that the provider you choose covers those needs. If you are young you will no doubt pay more in premiums but there are ways to reduce them.

Follow these 7 handy tips:

  1. Choose a vehicle with a smaller engine: Cars that have a high power to weight ratio are considered to be more dangerous – especially among young, male drivers.Try and stick to low performance vehicles to reduce your insurance premium.
  2. Tighten vehicle security: Install a tracking device in your car. This will reduce your car insurance as you’ve added an additional layer of security. Once installed, inform your insurer and request a revised quote. Also, make sure your car is in a guarded and safe area. Insurance companies will view this as low risk when it comes to vehicle theft.
  3. Maintain a good credit score: Ensure that you have a good credit score. This can be done by ensuring you don’t overdo it with debt and pay your creditors on time. ITC scoring is done by most insurers and discounts are given based on relevant scoring.
  4. Do a certified, advanced driving course: This puts you in good stead as your insurance provider is likely to view you as a learned driver with less risk.
  5. Agree to pay a higher excess amount: It’s important to understand excess structures. If you can afford a higher excess amount in the event of an accident, it will reduce your premiums.
  6. Do your homework: When shopping around for a quote, check the terms and conditions (especially exclusions), excesses applicable, benefits and services automatically included, and any additional fees.
  7. Don’t go for all the benefits: Keep in mind that not all car insurance policies are the same. Some come with added services and benefits at no extra cost, whereas for others you may have to pay for the same service. This affects your premium. Interrogate your car insurance policy, and understand if there are services or benefits you don’t need, and if removing them will reduce your premium.

Try to get car cover in your name as soon as possible so that you can build up a good driving track record. While this may be costly in the outset you will be able to reduce the premiums by building up a good track record (for claims and driving) and you could reduce it further by taking note of the above tips.