Will I Be Able To Pay In Monthly Instalments?
We offer flexible monthly payments but we require an initial deposit of 25% of your total premium.
At Think Insurance we recognise that many of our clients may find it useful to spread the cost of their Young Driver insurance premium over the course of their 12 month policy. Therefore we are pleased to offer a flexible monthly payment plan that allows you to stretch the cost of your insurance over that period. When setting up your Young Driver insurance policy you will need to pay 25% of your premium as a deposit, followed by 10 monthly payments - meaning a 12 month policy is paid for over 11 months.
When taking out a Think Insurance Young Driver insurance policy and choosing our flexible payments plan you will pay the total price of your insurance package across the year, so this isn’t just the premium but any administration fees and add ons that are on your Black Box insurance policy.
When spreading the cost of your policy, there may be a set-up fee applicable, and you will be charged interest on the amount you are borrowing. All of the specific amounts relating to your policy will be discussed with you before you have to make your mind up on how you want to pay.
Failure to keep up with your monthly payments can result in additional charges and even cancellation of your policy. For full details, speak to one of our agents by calling 0800 221 8077.
What Add Ons Can I Get With A Think Insurance Young Driver Policy?
Windscreen cover – Get separate cover that allows you to claim for damages, repairs and (if needed) the replacement of your windscreen without having to claim on your main Young Driver insurance policy. This means that if you did need to claim for damage to your windscreen your No Claims Bonus would not be affected by the claim.
Breakdown cover – A great addition to any insurance policy is Breakdown cover, to give you peace of mind when you’re driving. By purchasing it through your insurer when you’re taking out a Telematics insurance policy, you won’t forget to do it later on and end up stranded on a country road somewhere with a puncture.
The price of the telematics device installed in your car will also be factored into the monthly payments. However, if for any reason your policy is cancelled the price of the black box cannot be refunded, as the device cannot be returned.
If you have any changes to your policy such as changing your car, modifying your car, changing your address, or any other details that you are required to inform us of, then any price increases and administration fees will be added on to your remaining monthly payments.
Will I Need To Pay For More Miles In Full?
If you have run out of miles for the year, or your annual allowance is forecast to exceed your limit at any point in your policy, and need to continue driving your car, you are able to purchase more miles. If you have chosen to pay by monthly instalments, the price of your additional miles will then be divided across your remaining payments, this includes any administration fees involved with purchasing additional miles for your Young Driver insurance policy.
If you choose not to purchase more miles and continue to drive, then your policy may be cancelled. If you want to cancel the policy instead of purchasing more miles you will be liable to pay the rest of the premium at the price of the miles you would have used over a 12 month period.
It’s easy to avoid paying for more mileage by keeping an eye on the amount of miles you have done, by logging into your Young Driver portal, which you are required to do weekly. More information on your Young Driver portal can be found by viewing the FAQ: What Kind Of Information Can I View In My Portal?. Cutting out small and unnecessary journeys is also another good way to reduce you miles and save them for when you actually need to use your car.
Young Driver Insurance FAQs
If you have any more questions about our Young Driver insurance policies, whether it’s about payment or something completely different, you may find the answer in our Young Driver FAQs section.
Black Box Insurance Quote
To discuss a Young Driver Black Box insurance quote you can call 0800 221 8077 and a member of our Young Driver insurance team will be more than happy to discuss a Telematics insurance quote with you. They will also be able to clarify any information discussed in this FAQ article and can walk you through the benefits of spreading the payments across the year. Alternatively you can click ‘Get a Quote’ below and a member of our Young Driver team will get in touch with you by calling the number you provide us with.