How much is car insurance for a 17-year-old?
Unfortunately, 17-year-olds face the highest insurance premiums around (a premium is the amount that you pay for your insurance). According to the Consumer Intelligence price index for June, the average premium for drivers under 25 is £1,734!
But why is car insurance so expensive for 17-year-olds?
Well, insurance providers calculate their prices based on risk. Sadly, young drivers are more likely to be involved in an accident and claim on their insurance. The most likely are those who’ve recently passed the test, with one in five drivers crashing within the first six months!
However, there are ways that you can prove you’re a safe driver and knock some money off your insurance premium. We’ll cover a few of them below.
How can I get affordable insurance at 17?
Although the cost of car insurance is high for 17-year-olds, there are ways to reduce the price.
1. Think about a black box
A black box is a small device that gets fitted in your car. It monitors your driving, giving you the chance to prove you’re a safe driver. A black box insurance policy could save you up to thousands of pounds, depending on your circumstances.
2. Build your no claims
Building your no claims bonus takes a while, but the longer you go without claiming on your insurance, the lower your insurance premium will be. Take out a hybrid insurance policy while you’re learning to start building your no claims bonus straight away.
3. Add a named driver
You could save money by adding an older, more experienced family member or friend to your insurance policy as a named driver. Just make sure you mark yourself as the main driver if you’re doing most of the driving, as otherwise you might be committing a form of insurance fraud, which could invalidate your insurance.
4. Cover and excess
Choosing ‘third party only’ cover is usually more cost-effective, but it will cover you for less. You can also opt for a higher voluntary excess to lower your premium, although bear in mind this will leave you with more to pay if you need to make a claim.
5. Increase your security
Locking your car in a garage rather than parking it on the road at night could lower your premium. Equally, you might be able to lower your costs by adding security features to your car, like an alarm, but always check with your insurance provider before modifying your car.
What are the most cost-effective cars to insure for 17-year-olds?
One factor that goes towards determining the price of your insurance is the insurance group that your car is in. All cars are placed in a car insurance group labelled one to 50.
The lower the insurance group, the less expensive a car will usually be to insure.
Top tip:
The most cost-effective cars to insure for 17-year-olds are usually small cars with less powerful engines.
Take a look at the five cheapest cars for 17-year-olds to insure in 2019, according to Motoring Research.
| Ranking | Car |
|---|---|
| #1 | Volkswagen Fox |
| #2 | Nissan Micra |
| #3 | Citroen C1 |
| #4 | Peugeot 107 |
| #5 | Volkswagen Up |
Can you pay monthly at 17?
Yes! Many 17-year-olds choose to spread out the cost of their car insurance and pay it monthly, to make it more affordable.
If you choose to pay monthly, you’ll end up paying more for your car insurance overall. However, it saves you from having to fork out for the whole cost of your insurance in one go and tends to be easier for cash flow.
Top tip:
Check out whether you need to put down a deposit or pay an admin charge before choosing whether to pay monthly.
Can you get temporary car insurance for 17-year-olds?
Yes, temporary car insurance is a popular and cheap option for 17-year-olds who don’t own a car.
Temporary or short term car insurance allows you to get insured for a short period of time on a friend or family member’s car, usually without the risk of affecting their no claims bonus if you’re involved in an accident.
If you’re looking for affordable car insurance, then temporary car insurance may be a good option as you only have to pay for what you need - whether that’s just one-day insurance, or three months of cover. However, if you drive regularly, a longer-term insurance policy might be better value. So make sure you compare insurance quotes!
Competitive car insurance for 17-year-olds
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