How younger drivers can save money on car insurance
For younger drivers the cost of insuring a car can be high at the best of times, but in the current financial and economic climate, when money is tight for everyone including younger consumers, many may be hoping more than ever to try and save money on the cost of this expensive insurance cover. Read more
Tags: consumers, young drivers, vehicle, car insurance, Driving test
Parents ‘running risks’ when insuring cars
September 17, 2007 by admin
Filed under News, News-Insurance
Parents are risking getting in trouble with the law by insuring their offspring in their name in order to save money.
Research carried out by Gocompare found that more than 66 per cent of parents would consider ‘fronting’ – insuring the car with themselves as the ‘main driver’ when their child will really be doing most of the driving.
“With car insurance premiums reaching their highest ever levels, it’s only natural that parents would want to help their children get on the road,” said Hayley Parsons from the comparison site.
“Parents shouldn’t be tempted to hide a young motorist as a named driver on a policy,” she added. “As well as being illegal, fronting is a false economy. Insurers are wise to the practice and many now set the price according to the age of the youngest driver on the policy.”
A spokesperson from Direct Line said recently that one in three male drivers writes off a car in their first year on the road. “Young drivers present a greater risk than experienced drivers, and, as insurance is based on risk, they will pay a higher premium,” she added.
No Claims Bonus
Information about your car insurance no claims discount:
A no claims bonus can significantly reduce the cost of your car insurance cover. If you have never heard of the no claims bonus, or are unsure as to its workings or methodology it can be explained as follows: Read more
Tags: older drivers, maximum bonus, car insurance, no claims bonus, insurance policy, no claims discount, young drivers