After months of driving lessons, practice questions and mood swings, your beloved teen has finally passed their test. In the meantime, you’ve been in the background pouring over finances, contemplating whether you can afford to put another car on the drive.
It’s no secret that teen drivers are more expensive than those who have been driving longer, this is because new drivers are amongst the most dangerous and reckless on the road. On average they rack up several times more tickets and accidents than a regular driver.
Adding a teenage driver to your car insurance policy will no doubt raise the price, however I have teamed up with Go Green Leasing to find out a few simple hacks that can help with teen insurance.
Buy small not cheap
Although it may seem like you are saving money at the time, buying your teen a cheaper car can rack up the insurance policy bill. For more affordable cover you will need to purchase a car with a small engine and plenty of safety features – most likely one in the lowest 1-5 insurance groups.
Consider a black box
This is perfect for parents who want to save money while assuring their children are driving safely. By fitting a black box, you can monitor everything from speed to harsh breaking, this will hopefully result in safer driving and cheaper policies. Not only can you save money on your existence cover, it also offers the potential to enjoy a considerable saving at the end of the first year if you drive sensibly and don’t make a claim.
Be sure to shop around
Don’t buy a car before getting an insurance quote. Although, you may be feeling the pressure of buying the perfect car to celebrate. You don’t want to be paying out the neck for an insurance you were not aware about. Sometimes insurers only cover newer models and it may be worth spending more on the car and paying less with insurance. Some firms may even lease you a car with insurance included. There’s plenty of comparison sites online that will allow you to receive insurance on several cars and policies.
Make yourself the named driver
It seems the days of putting your child on your policy is a thing of the past. By adding yourself as an older and more experienced driver this may result in a drop of price. However, you must be cautious of “fronting”, this is the illegal action of putting yourself as the main driver and your teen the name driver.
Insurance…It’s every parents’ bane of life and seems to be one of those gifts that just keeps giving. But with plenty of planning and preparation it is possible to secure a cheap and trustworthy insurance. Here’s to safe and cost-effective driving!
* This is a collaborative post