Nothing can beat the feeling of passing your driving test and sitting behind the wheel of your very first car. Arranging your insurance isn't as exciting, but it is necessary to get on the road!
It's common knowledge that buying car insurance at age 17 is going to be more expensive than your folks' or your older sibling's insurance - but it's not all bad news; there are ways that your insurance premium can be a bit less painful in your first year!
It might not seem fair that insurance is so costly in this first year, so we'll explain why. Basically, all insurance quotes are based on risk, or, to put it another way, your insurer must assess the chances of paying out for a claim and base your premium on that likelihood.
At 17, you have very little driving experience. Government statistics tell us that 1 in 5 young drivers are involved in an accident in the first 6 months after passing their test. Therefore, insurers will quote premiums based on the fact they are likely to have to cover the cost of more claims.
Insurance companies take into account lots of factors when calculating a premium – there are some factors you can't change like your postcode or occupation, but there are some ways to make the costs more manageable:
Choose telematics insurance – choosing a policy which comes with a black box to measure your driving style is often hundreds of pounds cheaper than a standard policy. Not only does it encourage safer driving, but it allows the premium to be tailored to the way you drive rather than how young people drive in general.
Choose a less powerful car – a sporty new motor may be tempting, but at 17 it will be pricy. A 1.4 litre or smaller car engine will be seen as a lower risk by an insurer.
Choose a newer car – if you're thinking about buying an old banger because it's cheap, you're likely to be quoted more. It's not as daft as it sounds, and although it's not expensive to replace – an older car is less likely to have the same safety features as a newer car and is more likely to be involved in an accident.
Drive safely – If you opt for a black box insurance policy at 17 and drive safely in your first year, you are likely to see a discount in your second year – not only that but the safe driving skills you develop now, will become habit for the future.
Remember the statistic we quoted earlier, that 1 in 5 young drivers are involved in an accident within 6 months of passing their test? With Marmalade, this statistic goes down to 1 in 18 meaning our young drivers are 4 times less likely to be involved in an accident within their first 6 months!
Marmalade's New Driver Insurance is specifically designed with your unique needs in mind:
By installing a clever little black box in your car, we not only help you become a better driver by sharing useful feedback with you, we can also base our quotes on your driving skills (rather than looking at national averages or statistical data for young people). This means cheaper car insurance for better drivers and, as nobody is perfect, it can also help you understand the areas on which you may need to work.
We trust young drivers to drive safely, so we offer our lowest premium at the start, rather than offer cashback later on. So it's fair, drivers who repeatedly drive dangerously are charged an additional premium, as they are more likely to be involved in an accident. Thankfully, over 90% of Marmalade customers don't have to pay an increase – in fact, safe drivers benefit from significant savings at renewal!
You and your named drivers can check how you're driving on your phone, tablet or computer with your own login – where you can also access our e-Learning modules to help you become a safer driver.
Our New Driver Insurance is available in most UK postcodes, excluding Northern Ireland.
Danielle Cooney 18, Birmingham says...
"It’s great using telematics. I track my progress daily through my phone."