Take security seriously

Also, make sure your car is fitted with a suitable security device, such as an alarm or immobiliser. Meanwhile, if you have the option, park your car in a driveway or, even better, a garage. This will further lower your risk level and may reduce your premiums.

Add a named driver

Another top tip is to add a named driver to your policy. If you include an older and more experienced motorist, your cover provider might reduce your bill.

However, never be tempted to take this a stage further and arrange for the policy to be held in a parent’s or another older adult’s name if they are not the main driver. This practice is called ‘fronting’ and it’s illegal. If your insurer finds out you’re doing this, they may refuse to pay out on any claim and they could even take legal action against you for fraud. It really isn’t worth the risk.

Consider a black box

A rising number of young motorists are installing black boxes in their vehicles to reduce their insurance costs. These pieces of kit contain a GPS, which transmits information to insurers concerning things like average driving speeds, the times of day cars are used and how many miles are covered. Using this detailed data, companies can build up a much more accurate picture of the level of risk that individual drivers pose. Depending on your habits behind the wheel, this could be an effective way to cut your spending.

Car insurance will always put a dent in young drivers’ finances. However, by following advice like this, you stand to make potentially significant savings