Car insurance for 17 year old is expensive. But there are ways to keep the costs to a minimum.
How to reduce the cost of car insurance for 17 year olds!
If you are a 17-year-old driver who has recently passed your driving test you are probably looking forward to hitting the road without your L plates. But first you have to sort out appropriate car insurance – and that’s not necessarily easy because insurers don’t like young drivers. In fact, many mainstream insurers will refuse to offer car insurance for 17 year olds, or charge sky-high premiums.
High rate of accidents
It might seem unfair, but the high premiums reflect the high rate of accidents among 17-year-old drivers. The statistics make alarming reading: one in five drivers will have an accident in their first year on the road and 26% of road accidents involve at least one motorist aged
between 17 and 24.
Compulsory car insurance
Don’t think you can drive without motor insurance because it is illegal. And if you are caught, you could be hit with a heavy penalty. The minimum legal requirement is third party car insurance cover, which pays out if you injure or damage another person or their property. You can also buy third party fire and theft car insurance, which includes loss or damage to your own vehicle if it is stolen or damaged in a fire.
Fully comprehensive car insurance is the most popular type of policy because it covers the full range of risks and sometimes also includes additional features such as legal expenses insurance in case you are involved in a dispute.
You might be able to save money on car insurance for 17 year olds by choosing third party rather than comprehensive cover. But it is always worth comparing motor insurance premiums because you can sometimes find a comprehensive policy with one insurer that costs little more than a third party policy with another.
You should also only consider third party cover if your car is old and of little value as the insurance does not pay out for any damage to your own vehicle in an accident, or if your car is stolen or damaged by fire.
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