The premium you pay is based on a multitude of factors, which we guide you through here. An insurance company works out how likely you are to make a claim, based on the questions they ask you, covering a wide array of areas; if you’re statistically a high risk, you’ll be clobbered.
Unfortunately, as a new driver you are a high risk, and if you want to know just how high, you can check out a few key facts and figures here.
The main issue for you as a new driver is your lack of experience and if you're a young driver, your age. While you can’t change your age (and don’t even consider lying, or you won’t be covered in the event of a claim), there are other ways you can cut the cost of your insurance. These are the key ones:
- Shop around to get the best price and deal. And make sure you do this every year; don't stick with your insurer just because they gave you the best deal the last time.
- Try to price match, playing off one insurer against another. If you make it clear that you can get a better deal elsewhere, you might see costs cut.
- Leave your car standard; insurers don’t like big stereos, spoilers and flash wheels.
- Don’t claim for small things; you need to build up a no-claims bonus. Besides, you'll probably have a large excess imposed on you anyway.
- Consider a larger excess, but don't get carried away; in the event of a claim, would you be able to fulfil your obligation?
- Use a specialist insurance company if you drive something unusual such as a kit or classic car.
- Think about investing in some security, to help ensure your car isn't stolen.
- Look at both conventional insurance policies as well as black box (or telematics) cover.
- Put a parent on your policy; it can see costs plummet. But whatever you do, don't get involved in fronting.