Are you a young driver? If you have recently passed your driving test you probably have two options. The first is to have your parents include you as a named driver on their motor insurance policy at an additional cost. This option is generally used by young people who have just passed their test and do not own a car.

The second option is for young drivers or teenagers who have recently purchased a car and are looking to insure it in their own name. Unfortunately, the cost of motor insurance under your own name means that for the first few years your premium will be high reflecting the driving records of many young drivers not as careful as you. However, do not lose heart because everybody who drives a car has to buy their own motor insurance at some stage. Your friend may be on his parent's car insurance policy as a named driver and paying less than you, but eventually he will have to get his own policy and when he does he will have to accept notably higher costs.

Why are Car Insurance Premiums Higher for Young Drivers?

Young drivers often feel that motor insurance companies discriminate against them. But insurance companies keep records and unfortunately the statistics show that young drivers have more accidents and suffer more from theft, fire and vandalism claims. You cannot control your age or your driving record, so remember that the single most important factor that you can control is the car you want to insure. A fast car and a young driver equals a high premium.