Car insurance costs have been steadily on the rise for many years and have now reached astronomical levels. Younger drivers, in particular, have notoriously endured more financial suffering than most age groups with cheap car insurance almost a bygone myth.
Personal injury claims as a result of accidents have shouldered most of the blame for the rise in insurance costs, but they are not the only cause. In fact, younger drivers are doing a couple of things that are causing the constant rise and most of them are unaware of the consequences of their innocent actions.
Modifications, for instance, are notorious for bumping up insurance costs. Insurers particularly don’t like them if you fail to inform them of the changes. In fact, you risk voiding your insurance entirely if you make a claim on a car that is not in the state in which it was insured, i.e. if it has a spoiler at the time of the accident but didn’t when you got it insured. The same even applies to getting neon lights and turbo charging installed on your motor. Put simply, insurers are not big fans of modifications, so you should always check with them before you go ahead and make them. Not checking beforehand is the biggest mistake young drivers can make in terms of modifications and insurance.
Some, but by no means all, young drivers are speed junkies, which means that they are at a higher risk of getting tickets and being involved in crashes. It goes without saying that accidents, or claims, for that matter, bump up insurance premiums when the renewal date comes around, but having numerous speeding tickets to your name can have a similar, but not necessarily overwhelming, effect.
A good financial move you can make as a young driver is to take a Pass Plus course with the Driving Standards Agency. You will, of course, have to pay for it, but it will certainly drive down your car insurance premium to a much more affordable level. It won’t necessarily increase your car insurance if you don’t take it, but the financial gains from completing it are definitely worth it because you are then seen as less of a risk by your insurance company of choice.