'Young drivers can do things' to improve insurance

There are a number of things that young motorists can do drive down the price of their insurance policies, one expert has said this week.

According to the Association of British Insurers (ABI), the insurance market for young drivers is a competetive one which offers a range of deals for motorists to choose from.

The ABI's comments follow on from a report published in the Independent newspaper, which found that young drivers routinely pay upwards of £1,500 per year for car cover. Those aged between 17 and 25 are forced to pay more than twice the national average for their insurance.

Furthermore, the newspaper claimed that while the average premium for all motorists is £459, younger drivers pay a hefty £989, meaning they spend a total of £940 million more for their cover.

However, this may have something to do with the fact that 17 to 21 year olds are ten times more likely to be in an accident than those over 30.

Malcolm Tarling, specialist in general insurance from the ABI, said: "If you are a young driver you are going to end up paying more for your insurance, there is no getting away from that. [However], there are a number of things you can do."

He advised that firstly, motorists should think about the type of car they are buying before splashing out, as there is little point in forking out on an expensive vehicle if it means the owner has no money left to insure it afterwards.

"Be sensible," he urged, "Think about the vehicle you are buying. Insurers work by putting cars into twenty groups. The factors they take into account are the cost of the vehicle, and spare parts."

Therefor,e a BMW will be at the top end of the range, whilst a Ford Escort will be at the lower end. While the latter car may not be half as cool to drive around or have an impressive acceleration speed, it is likely to be a lot more cheap to insure.

Every Investor also has tips to offer young motorists buying their first vehicle. Number one is to shy away from making any modifications to the car at all. It says that if the vehicle is no longer the standard model then insurers will hike up premiums notably.

Shopping online was also recommended, for discounts of up to 20 per cent.

Perhaps, most importantly, motorists were urged to fill out their application forms thoroughly, as small errors could cost applicants big bucks; If insurers have to make changes to policies after they have been taken out then they will often charge an ammendment fee.

Motorists should also note that telling white lies about their credential could be one of the most expensive mistakes they will ever make. If an insurer uncovers such discrepancies with the truth they are likely to - and completely within their rights - proclaim the policy null and void, leaving the driver uninsured.

Mr Tarling had one final word of advice for motorists: shop around.

"There are a range of policies. Some policies will recognise steps that you take, for example not driving at night," he said.

The expert concluded: "Other policies may allow you to build up a full year's no-claims bonus after only six months driving, conditional on you agreeing to sign up to post-driver test training courses, such as pass plus, which is run by the Driving Standards Agency."