Most young drivers, especially males, dream
of owning a fast, sporty car. Hot hatches
offer young drivers the cheapest route to
this kind of high performance. However, hot
hatches are also more expensive to run and
to insure than a more mundane model in the
In some extreme cases, the insurance cost
can exceed the value of the car. This is due
to the higher premiums young drivers,
especially males, are charged. Insurers
automatically assume that a young male
driver is a high risk. Statistics have
proven that they’re the most likeliest to
have a serious accident due to excess speed,
aggressive risk taking behaviour, distracted
driving, or drink driving. The risk is
likely to increase if the young driver has a
fast, sporty car.
You’ll likely want to find ways to reduce
your insurance premiums so you can spend
more on running your pride and joy. After all,
what good is it to have a car if you can’t
afford to keep it on the road? The following
tips may help you out.
Ø Take extra driver training courses, like
the Pass Plus Test, and special hot hatch or
high performance car training courses. If
you know you’re going to eventually own a
fast, sporty car then get properly qualified
for handling the higher risks involved prior
to getting the vehicle. Taking the Pass Plus
course/test may save you up to 30% on your
premiums, whether you’re driving a hot hatch
or a more mundane model.
Ø Save up money and pay your premiums in one
annual lump sum, if at all possible.
Although the monthly payments may seem more
affordable, they actually cost you more in
the long run due to the interest charges and
credit fees that may accrue. If you have to,
forego some seemingly lesser daily cost,
such as a snack or drink. Put the money
saved aside somewhere where you can’t have
easy access to it. Consider putting it aside
in a bank savings account so it can be
making a little extra money for you until
the premium becomes due.
Ø Report accurate mileage, but try to lower
the mileage if possible. Figure out your
actual mileage and then add 10%-15% on top
to cover any unexpected longer trips. Report
this mileage amount as accurately as you can
to your insurer. Once you’ve figured out how
many miles you drive, try to find ways to
reduce it. Such as combining errands,
planning out a better route, utilising
public transportation, and car pooling with
people who’re going to the same local areas
as you’re going.
Ø Limit the number and age of the drivers
named on the policy, especially any drivers
under the age of 25.
Ø Consider waiting until after your birthday
to buy a car and insurance if you’re close
to having a birthday. Being a bit older
helps to lower the risk rate for insurers.
Ø Consider starting off more slowly. Instead
of buying a hot hatch right after getting
your driving licence, buy a slower, more
mundane model. Take the time to build up
driving experience and a No Claims Bonus
while putting aside the savings on your
insurance premiums. Then take the savings
and buy a better hot hatch in a couple of
Ø Establish a good credit history as soon as
possible. Take out and promptly repay small
loans, and ask the lenders to report the
prompt payments to the credit agencies.
Maintain some form of steady employment.
Ø Demonstrate a high maturity level. Become
active in your community and school. Seek
help for any addictions, especially to
smoking, drinking, and taking drugs. Take
leadership training courses to help
demonstrate that you are not likely to give
into peer pressure.
Ø Figure out what your exact insurance needs
are, and don’t let the insurer include any
services that you’re most likely never going
to use. Many insurers automatically add in
extra services, such as courtesy cars,
breakdown cover, European cover, and
Ø Do some in-depth comparison shopping, both
online and off-line. Insurance premiums and
policies can vary enormously among insurers. It pays to
look around and be very selective of your
insurance company. Be sure to look for any
hidden fees or charges that may be included,
especially in the premiums that are
extremely lower than those for similar
cover. Never settle for just the first
low quote you find. Always get quotes from
at least five online comparison sites, and
visit several insurers’ web sites first. Be
sure you ask family, friends, and
co-workers’ for their advice too, as they
may have already found a good deal.
Ø Make sure that your insurer is reputable
and financially stable, and has great
customer service. Some companies charge for
policy adjustments, such as name or address
changes. Read all the fine print before
signing an insurance contract.
Ø Enhance the security of your vehicle by
overnight parking in a garage or other
secured off-road location, and consider
installing approved immobilisers. You should
strive for your hot hatch to have a category
1 or 2 security rating.
Ø Many people may recommend increasing your
voluntary excess in order to lower your
premiums. This should be done only after
some very careful consideration. While
increased voluntary excess may lower the
upfront premium payment by a few pounds, it
means you have to pay out more from your own
pocket anytime you have to file a claim.
Statistics show that new drivers and young
drivers are very likely to have accidents
within the first five years of getting their
licences. If you have an accident, it could
cost you a small fortune simply because you
set the excess too high.
Due to being a young driver, it’s going to
cost you a fair old sum for car insurance.
The above steps will help to reduce the cost
of your annual premiums over time, just as
growing older will. However, it’s up to you
to keep your hot hatch on the road legally.
This means keeping your car adequately
insured throughout the year. The best way to
find, compare, and purchase car insurance is
to go online. You can get the assistance you
need, as well as get a discount for