When it comes to car insurance, millennials get a pretty raw deal. After spending all of that money on lessons and tests to get your license, then buying a car, they often find that they can’t afford to run it because the insurance costs are so high for new drivers. If you’re a man, it gets even worse. Men are statistically more likely to get into accidents so the prices are jacked up even higher. So, what’s the solution? Should you just give up on the idea of driving altogether and go back to getting buses and trains everywhere? No. Even though the price of car insurance is so much higher for you, there are still some handy tricks that you can use to reduce the cost and make it a bit more reasonable.
The best way to find a good deal on anything is to shop around, and car insurance is no exception. Quote Goat’s young driver insurance section in the UK can help you to compare hundreds of different policies to find the cheapest one. If you still can’t find a great deal, it might be best to wait a few months and see if you can afford something more affordable if you aren’t desperate to get on the road straightaway.
Choose Your Car Wisely
The car that you choose has a huge impact on the cost of your insurance policy so put some thought into it. While you might want to get a powerful car and impress your friends, it’s not a good idea. Your insurance will shoot up and the fuel costs will be higher as well. A smaller car with a more economical engine will save you money in both areas. Some newer cars give out such small amounts of emissions that you won’t need to pay any road tax on them at all so that’s something you should look into as well.
You wouldn’t think that it makes a difference, but the job description that you put on your application can drastically change the price of your insurance. For example, if you put down ‘chef’, you’ll pay around £98 more than somebody that puts down ‘kitchen staff’ even though you’re doing exactly the same job. This happens with pretty much any job description so open a few different quotes and try some variations. You could end up saving hundreds of pounds every year by making that simple change.
Renew Ahead Of Time
If you wait until the day before your policy expires to renew it, you’ll pay a lot more money. Doing it a few weeks before will be far cheaper. You could save up to £280 if you’re lucky and the savings are often larger for younger drivers. When you first take out your policy, set a reminder in your calendar to let you know when you’ve got a month left and start looking around for new policies then. The car insurance system is geared against you if you’re a millennial but you can get around it by using these clever tricks.
Michael FooteA Millennials Guide To Cheap Car Insurance