Learner Driver Insurance – Considering Costs
If you are a young driver did you know that buying car insurance with certain insurers before you pass your driving test is actually cheaper than when you’re fully qualified?
At first glance this might seem a little odd – why would learner driver insurance cost less than a standard car insurance policy?
It’s really quite simple… when you’re learning to drive you are constantly “chaperoned” and under surveillance by your ever vigilant driving instructor or parent.
As a result the actual cost of learner driver insurance is considerably reduced as the learner is unable to drive alone – reducing the overall risk.
Another frequent reason why car insurance for learners tends to be lower is that many insurers or brokers only offer short term cover that expires once the learner passes their driving test. Other providers may offer a year-long policy; however, in many instances they will increase the premium after the learner passes their driving test.
This could prove a problem for many as they are either faced with no cover or a cost they simply can’t meet. This is why the likes of iKube is so appealing to many learners – the company will not cancel the policy or increase the cost of car insurance after the learner driver passes their test.
The policy utilises what’s known as a “telematics” or “black box” device that monitors elements such as speeding, acceleration and braking patterns as well as cornering and the actual location of the vehicle at any given time. By utilising this technology the insurance provider can potentially reduce the premium – as long as the policyholder displays consistently good and careful driving.
As a result the policyholder continues to earn a No Claims Discount (NCD) on their policy and when you link this to the behavioural based discount, thanks to the installation of a telematics tracking device that tracks how the car is being driven the savings on car insurance in the second year could be significant. A black box insurance policy is certainly worth considering if you need to reduce the amount you spend, whether you’re a learner or full licence holder.
This article was supplied by iKube Insurance. iKube is a specialist in full licence drivers between 17 – 25 and learner drivers. The scheme offers discounted rates through its black box technology.