As a new driver, you are probably aware of the high cost of car insurance. Insurance companies charge new drivers more because they lack driving experience and are considered high-risk. Finding an affordable car insurance policy can be challenging, especially when you factor in the age of your vehicle, fuel efficiency, and other variables. So, what’s the cheapest car to insure for a new driver?
The answer might surprise you – it’s the Volkswagen Up! This compact car is popular among young drivers due to its low running costs, reliability, and stylish design. Additionally, its small size makes it easy to park and maneuver on narrow streets.
If you’re wondering how much you will save with the Volkswagen Up, here is some good news. According to recent research by Comparethemarket.com, the average cost of fully comprehensive car insurance for a 17-year-old driver owning a Volkswagen Up is £893 per year. In contrast, the same type of policy would cost an average of £1,742 for a Ford Ka+ and up to £3,453 for a BMW 114i Sport Hatch.
To find out more about why Volkswagens are so cheap to insure or discover alternative budget-friendly cars, continue reading our blog post below.
Factors That Affect Car Insurance Rates
When it comes to car insurance rates, there are various factors that can influence the cost of your policy. These factors could either increase or decrease the amount you’ll pay for coverage depending on the circumstances.
The Driver’s Age And Experience
One major factor that insurance companies consider when determining car insurance rates is the driver’s age and experience. Generally speaking, younger drivers who haven’t had years of driving experience will typically have higher premiums due to a lack of proven safe driving habits. This means that new drivers may face significantly higher costs compared to experienced ones.
However, certain insurance companies offer reduced rates to young drivers who have taken approved driver education courses. Moreover, some insurers may also consider mature drivers over 50-55 years old as safer and therefore more likely to receive lower premium rates than other inexperienced drivers.
It’s important to note that each insurer evaluates the driver’s age and experience differently, so shop around and compare quotes from multiple companies before making a decision.
The Type Of Car Being Insured
Another vital factor in determining car insurance rates is the type of vehicle being insured. Some cars are statistically more likely to get into accidents or be targeted by thieves, leading to higher insurance rates. On the flip side, some vehicles feature additional safety features, anti-theft devices and better driver assistance technologies that can qualify them for discounts.
If you’re looking for a cheap car insurance plan for a new driver, choosing an older, smaller, less powerful model might be the best route to take. Generally, such cars are cheaper to insure because they carry fewer replacement expenses if damaged or involved in an accident, and hence are considered low risk by insurers. Furthermore, sports cars or models with high horsepower are typically more expensive to insure since they can accelerate quickly and therefore may pose a greater risk for accidents.
In conclusion, getting cheap car insurance rates involves analyzing various factors such as driving experience, age and the type of vehicle you drive. Understanding how these factors affect your premiums is key to selecting the right coverage plan at an affordable price.
The Top 5 Cheapest Cars To Insure For New Drivers
When it comes to finding the cheapest car to insure for a new driver, the Honda Civic tops many lists. This reliable and economical vehicle is a popular choice among young drivers who are looking to save money.
The Civic’s low price tag, fuel efficiency, and excellent safety ratings all contribute to its affordability when it comes to insurance premiums. Plus, with many used Civics on the market, pricing can be even more competitive.
New drivers will appreciate the Civic’s easy handling and smooth ride, making it an overall great option as a first car.
The Toyota Corolla is another affordable choice for new drivers in terms of insurance costs. The Corolla’s reputation for reliability and low maintenance costs make it an attractive option when it comes to keeping coverage costs down.
In addition to its affordability, the Corolla also boasts good gas mileage, making it both budget-friendly at the dealership and at the pump. Its compact size and responsive steering further add to its appeal for inexperienced drivers who are still building their skills behind the wheel.
All of these factors combined make the Corolla one of the top contenders for the title of cheapest car to insure for new drivers.
For those seeking a slightly different style than the Honda or Toyota options, the Hyundai Elantra offers a modern and sleek alternative that remains cost-effective.
The Elantra has long been recognized as offering superior value for your money, and this extends to its insurance rates. With no shortage of standard features such as heated seats and touchscreen displays, the Elantra offers plenty of comfort without breaking the bank.
For new drivers, the Elantra’s easy handling and standout safety ratings make it both an attractive and affordable choice as a first car.
The Worst Cars To Insure For New Drivers
When it comes to insuring a car, sports cars are often at the top of the list of the worst options for new drivers. This is because they tend to be more expensive to repair and replace in case of an accident, which leads to higher premiums.
In addition, sports cars typically have more powerful engines than standard cars, which increases the risk of speeding and accidents. Insurance companies take this into account when determining rates, which can make insuring a sports car much more expensive for new drivers.
Furthermore, sports cars are often targets for theft or vandalism due to their high value and desirability. This can also drive up insurance costs for owners of these types of vehicles.
Luxury cars are another type of vehicle that can be very costly to insure for new drivers. These cars are typically more expensive to repair and replace if damaged, and parts can be more difficult to find or import.
In addition, luxury cars tend to have advanced technology and safety features, which may increase the cost of repairs or replacements even further. Insurance providers may therefore charge higher premiums to cover such costs.
Finally, like sports cars, luxury cars may be targeted by thieves due to their value and exclusivity. This can lead to higher insurance costs as well as potential losses for the owner.
Tips For Getting The Cheapest Car Insurance Rates
Shop Around For Quotes
If you’re a new driver, finding the cheapest car insurance can seem overwhelming. However, one of the best things you can do is to shop around for quotes from multiple insurance companies. This will help you to compare prices and find the most affordable coverage for your needs.
Make sure that when you’re requesting quotes, you provide accurate information about yourself and your driving history. If you don’t, you could end up paying more than you need to in premiums or even risk having your insurance policy cancelled if the insurer discovers that you gave false information.
Don’t forget to check for any discounts that may apply, such as good student discounts or safe driver discounts. These can significantly reduce your premium costs.
Choose A Higher Deductible
Another way to lower your car insurance rates is to choose a higher deductible. The deductible is the amount you pay out of pocket before your insurance kicks in after an accident or other covered event. The higher the deductible you choose, the lower your monthly premiums will be because you’re shouldering more of the financial responsibility in the event of a claim.
However, be careful not to set your deductible so high that you wouldn’t be able to afford it if an accident were to occur. Many experts recommend selecting a deductible amount that’s equivalent to your emergency fund or savings. That way, you know you’ll always be prepared to cover your portion of the expenses if needed.
In conclusion, getting cheap car insurance as a new driver requires some effort on your part. By shopping around for quotes and choosing a higher deductible, you can significantly reduce your premiums without sacrificing necessary coverage. Remember to always drive safely and responsibly to avoid accidents and keep your insurance costs as low as possible.
Frequently Asked Questions
What factors affect the cost of car insurance for new drivers?
The cost of car insurance for new drivers is affected by a variety of factors. These include the driver’s age, gender, location, driving record, and the type of car being insured. Younger drivers typically pay more for insurance because they are considered higher-risk. The location of the driver also plays a role, with urban areas generally having higher insurance rates than rural areas. Additionally, the make and model of the car being insured can impact the cost, with luxury and sports cars typically costing more to insure. Finally, a clean driving record and completion of a driver education course can help reduce insurance costs for new drivers.
Is it cheaper to insure a used car or a new car for a new driver?
Generally speaking, it is cheaper to insure a used car than a new car for a new driver. This is because used cars typically have a lower value, which means the insurance company would pay out less in the event of an accident. Additionally, new cars may be more expensive to repair or replace, which can drive up insurance costs. However, this can vary depending on the make and model of the car being insured, as well as the driver’s individual circumstances. It’s always a good idea to compare insurance rates for both new and used cars before making a purchase decision.
What are some of the cheapest car models to insure for new drivers?
Some of the cheapest car models to insure for new drivers include the Honda Civic, Toyota Corolla, and Ford Focus. These cars are generally considered safe and reliable, which can help lower insurance costs. Additionally, they have lower repair costs and are less likely to be stolen, which can also impact insurance rates. It’s important to note that insurance rates can vary depending on the driver’s individual circumstances, so it’s always a good idea to compare rates for multiple car models before making a purchase.
How can new drivers reduce their car insurance premiums?
New drivers can reduce their car insurance premiums by taking a defensive driving course, maintaining a clean driving record, and choosing a car with a high safety rating. Additionally, some insurance companies offer discounts for good grades or for having multiple policies with the same company. It’s always a good idea to shop around and compare rates from different insurance companies, as rates can vary widely depending on the provider. Finally, opting for a higher deductible can help lower insurance premiums, although this does mean the driver will be responsible for more out-of-pocket costs in the event of an accident.
Are there any discounts available for new drivers when buying car insurance?
Yes, there are several discounts available for new drivers when buying car insurance. These can include discounts for completing a driver education course, maintaining good grades, or having multiple policies with the same insurance provider. Additionally, some insurance companies offer discounts for safe driving or for installing certain safety features in the car, such as anti-lock brakes or a backup camera. It’s always a good idea to ask about available discounts when shopping for car insurance, as they can help significantly reduce insurance costs.
What are some common mistakes to avoid when buying car insurance as a new driver?
Some common mistakes to avoid when buying car insurance as a new driver include not shopping around for the best rates, not properly assessing individual insurance needs, and not understanding the terms of the policy. It’s important to compare rates from multiple insurance companies to ensure you’re getting the best deal. Additionally, it’s important to accurately assess individual insurance needs, such as the amount of coverage needed and the deductible amount. Finally, it’s essential to read and understand the terms of the policy, including any exclusions or limitations. This can help avoid surprises and ensure you have the coverage you need in the event of an accident.