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Hints and tips on getting insurance for 17 year olds

Although insurance rates for under 25s are dropping at the moment, the prices are still eye-wateringly high for most people. The average premium for a driver aged 17 to 22 is a staggering £1,187 so you’ll need to know how to cut costs when you’re purchasing insurance for 17 year olds.

Step-by-step guide

Going for third party could be cheaper, but that’s not always the case so don’t make that assumption without doing your homework. You should try and add a responsible second driver to the policy as this will help to lower the premium, but don’t put that person as the first driver if it’s your car.

Changes in circumstances

This is a mistake that a lot of your drivers make and one that could be costly if you’re involved in an accident. It’s your responsibility to make sure that you keep your insurer in the loop when your circumstances change. Whatever you do, don’t be tempted to lie to your insurer. It just isn’t worth it because your insurance could be invalidated. If you modify your car, make sure you tell your insurance company.

Multi-car policies

You could save money with a multi-car policy if you still live with your parents. They’ll have to split the difference with you and they might do all the paperwork, so you could be saving money and time.

Telematics

This is changing the way insurance firms underwrite their premiums. For a decade or more it’s been used in commercial vehicles to track an employee’s driving habits, but now the smartphone sized black-box can be installed into private vehicles. This is a great way of getting cheaper insurance for 17 year olds as your driving habits are logged and transmitted to the insurance firm.

Final word

There's no magic solution to the problem of high premiums for first-time drivers. The stats show that a fifth of all new drivers aged between 17 and 19 years old get into an accident in their first year on the road, so premiums are high to cover this. Buying insurance for 17 year olds is expensive, but you can make it more affordable.

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