Car insurance tips for young male drivers

The cost of car insurance for young motorists has continued to escalate with The Co-Operative Insurance reporting that in the 12 months leading to February 2009, average premiums have risen at four times the rate of inflation. Indeed the average premium for drivers under the age of 25 now stands at £1,463 with young males hit particularly hard.

Consequently it`s become increasingly important for young males to consider the options available to them. Though comprehensive car insurance provides high levels of cover, many young drivers prefer third party only or third party fire and theft cover, particularly if they drive cars with low retail values, because of the savings that can be made.

Why are premiums so high for young male drivers?

Statistics from Brake, the road safety charity, show that one in eight driving licence holders is under the age of 25 – yet more than a quarter of drivers killed are from this age group. It also shows that young male drivers have much higher accident rates than young females and that males aged 17-20 are seven times more at risk than all male drivers.

As a result car insurance premiums for young males are high due to reputation. However, there are additional factors that could impact on premiums, such as:

- Older drivers
Having an experienced driver on your policy can keep to keep the cost of car insurance affordable – but don`t ask a parent to front a policy for you as this is fraud.

- The car you drive
Cars with a low insurance group and small engine capacity are cheaper to insure. Young males in high performance cars could face extortionate premiums.

- Modifications
Don`t make any modifications to your vehicle if you want to keep premiums low, particularly if they affect the car`s handling or performance.

- Where and when you drive
Many cities and particularly student areas suffer from high crime which bumps up premiums. Also think about when you drive – if you avoid peak hours inform your insurer.

- Where the car is parked
Parking your car on the highway will increase the cost of your premiums as the vehicle is at greater risk of theft, vandalism or damage. Parking on a driveway, in a secure car park or in a garage will all help to keep premiums down.

- Your record
Stay accident and conviction free if you want cheap car insurance.

What should young males look for from a car insurance provider?

Even though several insurers are refusing to offer young male drivers cover due to their poor driving record, there are exceptions to the rule and several providers even specialise in offering features designed for young males. So what should you look for?

- Monthly payments
Chances are your premium will be high and you may not have the cash to pay it up front. So look for an insurer that allows you to pay by monthly instalments without additional charge.

- No-claims bonus
Several providers offer rapid no-claims bonus schemes allowing you to earn a full year`s no-claims bonus in around nine or 10 months.

- Pass Plus discounts
Some insurers slash premiums by as much as 35 per cent if you complete the Pass Plus course within your first year of driving.

- Pay as you go insurance
By installing a black box in your car, insurers can track when and where you`re on the road. If you do the bulk of your driving at "off-peak" hours, you could slash your comprehensive premium.

You can drastically reduce the quotes you receive if you fit security devices to your car, park in a garage overnight and agree to a limited mileage. To ensure you`re getting a competitive quote you should shop around for cheap young driver car insurance through a comparison website where you can compare dozens of policies with one search.

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