Insurance for women, young drivers and performance and classic car owners - 2/3

Quick links to other parts of this guide:
Part 1 - Guide for women drivers, young drivers and performance car owners
Part 3 - Guide for women drivers, young drivers and performance car owners

At moneysupermarket.com we know the importance of keeping the cost of car insurance to a minimum. That is why we have produced a guide for specialist insurance groups. In part one we looked at women drivers. Now in part two we turn our focus to young drivers.

Young drivers

For young drivers, obtaining car insurance has often been a frustrating experience due to the sky-high premiums. It is a fact that younger drivers generally make more claims than their older counterparts, in part due to their lack of experience, and as such many insurance companies seem to price them out of the market.

However, more and more insurance companies are attempting to offer advantages to young, safe drivers. For example, some UK motor insurance companies have introduced a rapid bonus scheme, which runs for nine months rather than twelve, so the year's no claims bonus is obtained more quickly and the next year's premium reduces more quickly as a result.

Other companies offer young driver insurance, which will provide flexible payment options and cover for provisional licence holders.

The Pass Plus scheme is also a great way for young drivers to save cash over the long term. Pass Plus is a certificate option that follows a passed driving test giving the young driver specific lessons in night, motorway and town traffic driving that could be avoided in regular driving lessons. Achieving the Pass Plus can earn massive discounts (as much as 35%) on your car insurance.

Another suggestion for a young driver would be to add a parent to their policy as a named driver. An older, more experienced driver can cut costs. The reverse is true for parents looking to add teenagers to their policy. However, if it is unavoidable a way of reducing the cost is to minimise their insurance to a set period of time - for example during the holidays.

In part three we examine how drivers and owners of performance and classic cars can cut their costs.

Guide for women drivers, young drivers and performance car owners – 3/3 >>>