Family Finance: Cut The Cost Of Teenage Car Insurance
Having a newly-qualified 17 year-old male
driver in the family is like keeping Michael Schumacher in Ferraris, but
without the prize money.
Insuring a newly-qualified teenage driver is
going to be pricey, but here are a few tips on minimising the cost. Suzanne Moore from the Association of British
Insurers lists ways to cut costs, both for you and your children:
DON'T buy them a car till they've got
at least a year's claim-free driving under their belt.
...and DON'T be tempted to cheat by
making yourself the named driver on a new car - any subsequent claim
will be looked at with great care.
DO put them on a Pass Plus course that
teaches them things you only used to be able to pick up through experience,
like driving at night, on motorways or in bad weather. It could make
the difference of a year's driving experience to the cost of the premium
For further details see the Association of British Insurers website.
DO make sure the car is as unflashy and
safe as possible. If you live in a city make sure the security system
is Thatcham approved. Again, the Association of British Insurers can
tell you more.
