What's the news?
According to online insurance specialist Coverinaclick.ie, while younger and first-time drivers still face the burden of hefty insurance costs in their first year on the road, there is better news 12 months down the line, if they hit all their marks.
Jonathan Hehir, Managing Director of Coverinaclick.ie is advising those who are about to embark on their motoring journey to be prudent in their approach and to do what they can themselves to cut costs: "While insurers are the ones who set the prices, young drivers still have some control over their fate in terms of the premiums they pay - particularly once they have gained some driving experience. We ran the numbers and if these drivers can reach and complete three driving 'milestones' i.e. get 12 professional lessons, attain their full licence and earn a one year no claims Bonus, then they will see a huge reduction in what they are charged for motor insurance, as we can switch them to one of our Lloyds underwriters. Even those who only manage two out of three and don't get their test the first year will still see a marked decrease in premiums,"
According to Coverinaclick's figures, a 21-year old driver with a provisional licence, and no no-claims, could pay as much as €3,936 in year one. If they get their lessons, licence, and no-claims in a row, though, that could fall to €932 in year two.
On top of which, there are better deals available to younger drivers through the brokerage market, with some brokers able to access specialist deals that average punters can't get at, so it's important for anyone starting out to find a good broker and not let them go.
Hehir went on to advise: "There are several steps drivers can take to ensure they get the best value motor insurance premium. Moving from a provisional to a full licence has definite cost cutting benefits, and drivers can save up to 30 per cent on their premiums simply by achieving their full licence. The advent of the N-plate (a compulsory disc to be displayed for newly qualified drivers for a period of two years), has had little impact, and no insurer has indicated any changes/or new rates based on the new 'N' plate law."