10 Tips For Young Drivers To Reduce Soaring Costs

As a young driver, meeting the costs of running a car can be trickier than passing your driving test in the first place. With insurance premiums soaring, and road tax, petrol and servicing to consider, owning a car is slowly becoming a costly luxury. And young drivers experience this more than any other demographic, as a higher risk of accidents among young people have pushed premiums higher.

So what can you do to reduce the amount you'll be paying on your vehicle? If you've experienced the freedom of being able to go off on your own, you're unlikely to want to give this up to save money. Luckily, there are a few tricks you can try to help bring your motoring insurance down (and your bank balance back into the black).

1) Taking the Pass Plus test is a fantastic way of bringing your insurance bill down by up to 35 per cent. If you can show insurers that you're prepared to put in the hours to become a better and safer driver, you're more likely to get a reasonable quote.

2) Owning a smaller car won't just translate into lower petrol and road tax bills. Less powerful cars are cheaper to insure, and if you can get one that is seven years or older, all the better. Insurance for new models tends to be around 10 per cent higher.

3) Shop around and make sure you're getting the cheapest deal you possibly can. Some insurers specialise in the under-25 market, and some will even have special packages aimed at the younger driver.

4) Only use the car when you absolutely need to. Many insurers will look at your annual mileage when quoting a premium, and if you can keep this down it'll keep your quote down too. So walk, car pool or use public transportion for longer journeys; it'll save you money in the long run.

5) Make sure that your car has plenty of additional security measures. Alarms, immobilisers and a visible Vehicle Identification Number will deter thieves and encourage insurers to reward you for your responsibility, hopefully with a nice big discount on your quote.

6) And while we're on the subject, if you have a garage or another secure parking option, make sure you use it and let your insurers know this. If your car is broken into, it'll push up your premiums and nullify your NCB (no-claims bonus).

7) Adding an older and more experienced driver to your insurance (such as a parent or older sibling) can earn you a 10 per cent discount. However, make sure you make it clear that you are the main driver; insuring your car in someone else's name is not only illegal, but can get you a hefty fine.

8) Pay your insurance in as few instalments as possible. It might be painful, but opting to pay over the long-term will see you paying double digit APR rates, eating into your hard-earned cash.

9) Buying car insurance online can also get you a discount; many insurers these days offer exclusive discounts via their website, given they can pass on substantial savings from not forking out on property.

10) DRIVE SAFELY. This is the number one rule of owning a car anyway, but doing this will save you loads on your insurance. Any points on your licence will be penalised by a higher quote, and making a claim because of irresponsible driving will lose you your NCB. While you should be driving carefully anyway, this is definitely an added incentive.

Owning a car can be an

expensive business, especially when you're young and need to get insurance. However, following these tips can reward you with a substantial discount to ensure that you can save a fair bit of cash and keep your costs low. Happy driving!