Young Drivers Can Save On Car Insurance
Fool.co.uk:
Young UK drivers have been advised that the sooner they climb onto the car insurance ladder, the sooner they will start to make savings on their car insurance premiums.
According to the British Insurers Brokers’ Association (Biba), while opting to be a named driver on a parent’s insurance policy rather than taking out full cover in their own right may be cheaper for young drivers in the short term, they risk losing out on benefits in the long term.
Elaborating further, Graeme Trudgill, technical services manager at Biba, outlined that after a year of safe driving with their own insurance policy, young adults can expect a 30% discount on their original fee.
Moving on, a further 40% can be saved after a second year with no claims, a discount of 5% is usual after a third year, 60% after a fourth and 65% after a fifth. Read more.
Good advice. There are other ways to accelerate your bonus and lower premiums. See my Blog for tips and news on all insurance related topics.