Young drivers pay more for insurance because they have less experience on the roads and therefore are a higher risk of being involved in an accident. Statistics show that 1 in 5 will be involved in an accident in their first year of driving and drivers aged 17-25 cause one third of deaths on the road.
Young drivers may be seeing insurance quotes up to ?2000 but there are ways to keep the cost down with these tips:
The most important consideration is the car itself. Choose a car in a low insurance category. This typically means a less powerful car with a small engine. It may not have the ‘street cred’ of a sporty model but it will keep your insurance costs down.
Steer clear of modified cars and don’t make modifications, even cosmetic changes.
Consider taking a greater voluntary excess and see how this affects your insurance quotes but select a level which you are comfortable with.
Look at third party fire and theft (TPFT) cover and compare with fully comprehensive cover. However, you could lose out if you are responsible for the damage to your car.
Having an approved alarm, immobiliser reduces the risk of theft, a tracking device can aid the retrieval of a stolen car.
Taking a Pass Plus course will enhance your skills and experience which reduces your risk and can alter your premiums.
Some insurers will offer a service using a tracking device. They provide the device which tracks where you have driven and at what time. By limiting your mileage and avoiding high risk times of the day such as night time the risk is lower. This method gives the freedom to still drive where and when you wish and to be charged accordingly.
Finally, look for specialist insurance companies who can provide a tailored policy to young drivers.

Doug Walker Dip CII is General Manager of Academy Insurance Services Ltd. Academy is an independent insurance broker specialising in niche insurance markets such as buy to let property insurance and cheap young driver insurance.