Interesting articles about insurance

Want to save on Insurance Premiums? – Advice to young drivers

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Meals on wheels? Fast food?

Gari Dombo, MD for AFI (Alexander Forbes Insurance) says insurance companies generally classify young drivers as high risk due to their lack of motoring experience and this results in them being charged higher premiums. A young driver can surely use all the advice he/she can get to do seemingly insignificant things to obtain not so insignificant savings on insurance premiums.

The likelihood of a young, relatively inexperienced driver being involved in accidents is high owing to among other factors, driving at higher than the regulated speed limit and engaging in risky driving behaviour.

Experts also say a new driver is more likely to have an accident in the first year after passing their driving test than at any other time in their motoring career.

How to improve your chances of getting lower premiums

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Advanced Driving Course Certification may lower your premiums

Mr. Dombo says young drivers can improve their chances of getting lower premiums if they:

  • Obtain a defensive driving course certificate or diploma. A defensive driving course improves your chances of being considered as a safer driver.
  • Choose a vehicle with a lower power (lower kilowatts) motor. Higher powered vehicles are considered more dangerous, especially amongst young drivers.
  • Build up their own driving history and no claims bonus, so it’s best that you take out an insurance policy in your own name. As you become more experienced with a proven good record, your rates will reduce as insurance companies are reassured.
  • Committing to lower mileage as the less time you spend on the road, the less likely you’ll be involved in an accident.

In addition to the above, another good way to keep risk down to build that history is to enhance the security features of your car and to park your car in a safe place at night.

 

Reference: http://carinsurance.arrivealive.co.za/

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