Car insurance can often be expensive and problematic for young drivers — but money-saving guru Martin Lewis has offered motorists advice on saving hundreds of pounds on their premiums.
Speaking on ITV’s This Morning, Lewis highlighted timing as the key factor in getting a cheaper insurance deal. He said: “It’s all about the date when you get your renewal – 21 days beforehand.
“It’s not exact for everyone, but it shows how timing it can make a big difference for everyone. When it comes to car insurance, be the early bird who catches the worm.”
Along with suggesting young motorists opt for comprehensive cover over third-party policies, the founder of MoneySavingExpert.com suggested adding a more experience named driver to the cover, saying: “Adding an extra driver can cut your costs – it’s especially useful for younger drivers”.
Lewis also highlighted how experimenting with a job description can save money too — as long as it’s within reason. For instance, setting your job as a marketing director when you’re a retail worker can be grounds for fraud — but a journalist could describe themselves as a writer.
A study from Compare The Market in September 2018 found the average driver between 17 and 24 years old typical pays £2,442 a year on running costs of a car — including insurance, fuel, road tax, MOT costs and breakdown cover.