Mums Finance

My 22 year old son has just bought his very first car and he is over the moon about it. Okay, so it is not much to look at but he saved every penny he earned for two years and will be spending all his spare time for months to come fixing it up to his requirements. I am very proud of him for being so focused and saving for something he wanted very badly. Now he is learning the downside is the insurance side of things – it is very expensive for a guy his age but as we all know car insurance is a legal requirement for ALL car owners. Basically there are two types of cover you can opt for – fully comprehensive or third party cover. Take advantage of as many free insurance quotes as possible and of course don’t take the first you get.

The price you will eventually pay not only depends on your driving history but may also be affected by the area that you live in, your age (definitely) and your sex (absolutely). If you haven’t made a claim on your car insurance, or your current policy is up for renewal, you can switch to a cheaper provider. I know it is generally more expensive for young men than young women drivers but consider the higher incidence of accidents involving young males and there you have the reasons why.

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