Learning to drive is a rite of passage for young people, and a source of pride for parents. Not to mention that once they’ve passed their test and are ready to hit the road, the balance could be restored in terms of giving lifts.
However, on a practical note, it can be expensive to add your children to your car insurance policy due to their lack of experience. This is because statistics show younger drivers are more likely to be involved in accidents, which means they’re a greater risk to car insurance companies and therefore the premium will be higher.
Find out below how you can add your children to your car insurance, while hopefully keeping down the costs.
How do I add another driver to my policy?
Simply add an extra driver and fill in their details. You will be asked to provide their details including:
- Their name and age
- Their occupation and licence details
- Details of any motoring convictions, if any
- Their claims history, if any
If you already have car insurance with Rias and you need to add an additional driver during the policy term, you can update your account online quickly and easily and avoid the £25 admin fee. However, please bear in mind that your premium may still go up accordingly.
Alternatively, if you’d like assistance with this, you can contact us through our chatbot, direct message us on Facebook or give us a call.
How do I save money on car insurance for my children?
Car insurance is likely to be costly until your child has racked up experience, and several years of claim-free driving.
However, there are a few ways you can try to keep your costs down.
1. Get the right car for your family
If you drive a big, powerful car, it will cost more to insure. And much more to insure if you’re adding an inexperienced driver to the policy.
It’s worth considering getting a car with a smaller engine, from a lower car insurance group. While this may mean a temporary downgrade, you’re likely to find it much more affordable all-round.
2. Increase the excess
If you have to make a claim, the excess is the amount you will have to pay towards the cost of the claim and it may be split into two parts:
- Compulsory excess is the mandatory amount you have to pay, which is set by your insurance provider.
- Voluntary excess is the additional amount, if any, you’re prepared to take on yourself.
Increasing the voluntary excess is likely to result in a reduction in your premium, because you’re shouldering more of the risk in the event of a claim.
However, you must ensure that you always set your excess at a level that you can afford if you do have to make a claim on your policy.
3. Consider a black box policy
With black box or telematics car insurance, the driver is monitored using GPS technology, and data is sent to the insurance provider.
The insurer then uses this data to price the premium according to how safe the driver was in the preceding months. This means that careful drivers may be rewarded with a discount.
Beware of ‘fronting’
When you share a car with another driver, it’s crucial that the main driver on a policy is the one who will use the car most.
It’s important to be honest and upfront with your car insurance provider about this, so it can properly assess the risk, and price accordingly.
If you are recorded as the main driver but your child drives the car more frequently, this is known as ‘fronting’. This is a type of insurance fraud. If it’s found you’re doing this – you risk invalidating your insurance.
When arranging insurance for your kids, it’s important to stay on the right side of the law. Falling foul of this is a false economy and could cost you dearly in the long run.
For more driving tips and managing your insurance, head to news and guides.