Rac's rapid bonus scheme has proved to be a very attractive incentive for younger drivers looking to build up their no-claims bonus as quickly as possible so they too can benefit from the savings offered to those already having accrued a number of no claim bonus years.

For those conscientious young drivers, being diligent early on will prove incredibly beneficial for their future insurance premiums. Another way young drivers can reduce their insurance premiums is by completing the 'Pass Plus' driving course. Taking a minimum of 6 hours over just a few lessons a young person can gain some extra discounts.

So how does the Rac's rapid bonus insurance scheme work? Well rather than taking 12 full months to build up a single year of no claims bonus the Rac's cover will allow you to do it in just 9 months! It may not sound ground breaking, but obtaining 5 years worth of no-claims bonus would only take just over 3 and a half years, not a bonus to be frowned at. Of the millions of young UK drivers on the road at any given time, which of them are eligible for such a lucrative offer?

Quite generously, Rac has extended this offer to drivers between the ages of seventeen and twenty-nine who have had no previous claims, accidents or convictions. In addition, the young driver would need to have less than 4 years no claims discount and would be currently driving a car that was a 'group 15' or less. The young person would also be looking to take out a fully comprehensive car insurance cover with the Rac. With such a huge perk one would not be alone in thinking 'what's the catch', surely it all sounds too good to be true? Rac is quite literally giving one of the most dangerous demographics a bonus just for their age range, or are they looking to finally stop the ageist approach most car insurers take in relation to the youthful driver?

Are there any other ways a young driver can reduce their premiums, well the Rac makes a number of suggestions for the young driver, some include increasing your excess, by doing this you show the insurance company that you are confident in your driving capabilities, so much so that you are willing to put your own hard earned cash up against the premium to prove it. As well as this as mentioned before one can take part in the pass plus scheme, aimed at not only giving new drivers the much needed confidence it takes to tackle some of the more arduous road surfaces the UK has to offer. Once again by investing the time and the small amount of money it takes to complete the course you undeniably show the insurance companies that you are serious about your driving and are not looking to be reckless and treat the roads as your very own racing course.

All these benefits are undeniable but before taking out the policy be sure to take stock of all the features the policy has to offer as well as any potential flaws. One such flaw could be in that the Rac doesn't guarantee that the years of no claims bonus accrued while under their scheme will be transferable over to other insurance providers. So while you have taken the time to invest in your future cost effective insurability it may in fact all be for nothing if other insurers refuse to acknowledge the schemes incentive and rewind your bonus to actual time and not incentive time.

All examples are based on customers who do not have any NCD-entitlement when they take out their insurance and who remain claim-free for the life of their insurance. We cannot guarantee that this No-claims discount will be transferable to other insurers.