Even though the young drivers drive fewer miles and shorter distance than the adult drivers, the 17-year-old young drivers are expected to pay almost three times more premium than all other age groups in the UK. In January, the young drivers paid a premium of \u00a32,112 as compared with \u00a3767 of the all other age groups.<\/p>\n

One of the simplest explanations of the high insurance premium for young drivers is that they are considered to be high-risk drivers with a higher probability of running into an accident.<\/p>\n

There are almost 2.7 million young drivers under the age of 25 among which 1.3 million are under the age of 22 in 2017. The 2.7 million statistic shows that young drivers make up only 7% of the total UK drivers.<\/p>\n

Nonetheless, they account for 25% the total drivers killed in the accidents driving above the allowed alcohol limit.<\/p>\n

The high-risk behavior is attributed to various factors such as reckless driving and inexperience along with the biological reason that the risk center in young drivers is not fully developed. It is also evident in the fact that young female drivers are considerably more safe drivers than the young male drivers as the male brains\u2019 risk center develops later than the women.<\/p>\n

So, now we know that the high insurance premium is for real, the next thing is to know how to reduce it. Even though it cannot be reduced to the amount of average adult insurance premium, but it can be controlled.<\/p>\n

1-    Enlist an Adult Driver on the Policy<\/strong><\/p>\n

Do you know that there can be more than one title on one policy?<\/p>\n

Adding a reliable driver on your policy can lower the premium for you too. However, the adult driver must have a good driving record with no conviction.<\/p>\n

So, one way of reducing the premium of your car insurance can be to stay on your parents\u2019 insurance policy.<\/p>\n

2-    Bundle Up Insurance <\/strong><\/p>\n

If you are the only driver on the policy, then another way of lowering the premium can be by looking for bundle offers. Insurance companies prefer clients that buy more than one product from them and offer discounts to their regular customers. So, instead of buying car insurance from one company, health insurance from another and travel insurance from another, you can look for combined packages.<\/p>\n

3-    Choose A Low-Value Car  <\/strong><\/p>\n

We all know that the estimated and actual value of the significantly affects the insurance premium. Especially in the UK, car\u2019s worth plays a major role in its insurance premium.<\/p>\n

Therefore, if you do not want to pay huge amounts of insurance, you can choose a low-value car model. Insurance-wise, it is not the best idea to drive the priciest car of your home. Instead, you should choose to drive the cheapest car in the home as it can save you money and can ensure peace of mind.<\/p>\n

It can save you enough money to party harder with it.<\/p>\n

4-    Get Student Discounts  <\/strong><\/p>\n

Some insurance companies reward good students with special discounts and lower rates. So, if you have been a good student and have secured good enough CGPA in your studies, you can ask your insurer if it provides a student discount.<\/p>\n

Alternatively, you can search for the offers that are specially created for young drivers who drive to and from their educational institutes.<\/p>\n