When you’re finally old enough to legally drive a car on the roads, the sense of freedom you get is enormous. Once you’ve got your license,you can go wherever you like, whenever you like. You gain a large amount of independence as you no longer need to rely on others to get you where you want to be. This is all great news, but unfortunately having a car does come at a cost.
Car insurance, maintenance, fuel and the cost of the car itself all add up, making driving an expensive activity – especially when you’re just starting out. But does your age make a difference to your insurance premium if you’re a new driver?
How Car Insurance Premiums are Worked out
When it comes to calculating your premium for the year,there’s a whole host of factors that the insurance company need to consider.Some of the most important of these factors are your location, age, and the number of discounts that you’re eligible for. For example, some companies provide insurance discounts for their employees. Some car insurance companies even offer discounts to people who have recently graduated, those who are married or those who are over the age of 25.
If you’ve been a cautious enough driver to have not racked up and points on you license for a certain period of time, then you can also reap the rewards in terms of a substantially reduced premium. This is especially the case if you have been driving for a number of years.
Cheap Car Insurance for Under 25s
If you’re fortunate enough to still be under the age of 25,and are paying the price in the way of higher insurance premiums, don’t worry as there are still a few ways that you may be able to get yourself a discount.One of the most popular ways is to consider an advanced driving course.Although these courses are often repetitive and boring, they can save you a considerable amount of money on your insurance premium.
Taking out multiple policies is also a way to get a discount on your car insurance. This may sound odd but many of the bigger companies that offer multicar discounts provide a significant discount if you take out another insurance policy for another car within your household. In some cases, the discount that you get will more than cover the cost of the additional premium.
So when it comes to answering the question of whether your premium goes down when you hit the age of 25, the answer is – sometimes.
The rate that you get will depend on the insurance company you’re with, your driving experience, record, and many other factors as well as your age. Your marital status, desired policy length and even where you park your car are all taken into consideration when the insurance companies are calculating how much of a risk you are to them. As the saying goes, age is just a number.