Best Car Insurance for New Drivers: Finding a car insurance at a good price when you have just taken out your driving license is not an easy task. The inexperience behind the wheel is usually paid. There are companies that refuse to ensure this group and others that do, but the cost of the Insurance policy goes through the roof. Taking into account these difficulties, there are also insurers that have products that think about those that have just been released as drivers, regardless of their age.
The Best Car Insurance for New Drivers
The Spanish legislation requires to have signed a policy that, as a minimum, is guaranteed the so-called mandatory civil liability, which covers the physical and material damages that we may cause to other Classic Car Insurance or drivers. Despite being essential to be able to circulate, insurers consider that the risk of insuring inexperienced drivers -with less than two years of experience- is much greater and, in the case of private contracts, they can refuse to ensure this group.
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Among all profiles of existing drivers, young people and New Drivers are those who have to pay higher prices for their insurance due to their lack of driving experience. Thus, while drivers with more than 10 years of driving license, as a rule, are usually classified as low risk, which allows them to access the cheapest policies, those with less than two years of experience are qualified as very high risk, which hinders the mission of accessing insurance without having to pay a high price for it. If, in addition to being a beginner, you are under 25 years old, things get even more complicated.
The insurers consider as new drivers those who less than two years ago that they removed the card. And although not all companies penalize equally the lack of experience at the wheel, according to the data of a study by Kelso, the difference in the cost of insurance for a beginner adult driver and a veteran is considerable. The premium for a New Drivers grows around 60% in third parties and third parties expanded and 131% in the case of a full risk.
Therefore, if you want to get a reduction in your car insurance quote as New Drivers, you must take into account some factors that will allow you to save. The first thing is to analyze what coverage you need and stay with the essentials (more guarantees, higher cost). Then, compare the different products offered by the market, since the price can vary a lot between one insurer and another.
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You should also choose the type of policy well since the difference between a third party insurance and a full risk insurance can be important. If your car is second hand, the best option is a third party or extended third party policy. And if you have to buy a vehicle, opting for a smaller one will allow you to save on the price of your insurance.
Aware of the difficulties that this group has, there are companies that have products that think about them. This is the case with Balumba, which also offers a discount of up to 26%. Also Quality Auto has an insurance option for New Drivers (which includes roadside assistance and replacement vehicle).
If you drive responsibly, avoid the most dangerous hours (night time), drive on safe roads and do not use the car a lot, being a driver with little experience does not have to be synonymous with expensive car insurance with the policies pay as you drive. For example, with Zurich Intelligent Auto the company offers discounts of up to 30% on the renewal of the policy based on the kilometers traveled and the routes used, provided that at the time of the renovation no claim has been declared with guilt.
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Generali also has a product of this type. It is the auto insurance Payment as I drive. The company installs in the car a small device, which collects all the information in the user’s way of driving. According to it, Generali adjusts the initial premium every month and even returns money if it is better than what was said. The company calculates that the savings in the insurance premium can reach up to 40%.
If you do not get any company to assure you, do not despair, the last possibility is that you direct the Insurance Compensation Consortium, which is responsible for hosting all those who are not admitted to any private insurer (belongs to the State). Of course, you must show that you have requested at least two entities that assure you and that both have denied your request.
Another possibility with which you account if you are not going to use the car in a habitual way and you are not the owner of the vehicle is that you make sure as the second driver of the car that you are going to drive. In this way, you are covered against any accident and you can drive calmly.
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The premium will be cheaper, since the owner is a veteran driver, although it is very likely that they will apply a certain surcharge. All in all, this alternative has its counterpart and is that, by not appearing as a driver, you will not be able to enjoy bonuses for good driving in the future. In addition, if you have any loss, they will be awarded to the policyholder, which will damage your record.