Insuring your teen driver

Collaborative Post | You will want to encourage your teen to drive so that they can develop an important life skill and get a newfound sense of independence - it will also stop you from being their personal taxi driver! Insurance is an important consideration, though, particularly when you consider that it can be expensive for new and young drivers. This post will offer a few tips for insuring a teen driver to ensure that they get the right level of cover at an affordable cost.

Photo by Patrycja Olszak on Unsplash

The right time

First, you should consider if now is the right time for them to be driving. Although it is a great life skill to have, it is often not essential for a teenager. If you can delay by a few years, you will find insurance to be more affordable as they will be deemed a more responsible motorist.

When do they need insurance?

You must also be aware that insurance is essential any time that your teen gets behind the wheel. If they are learning to drive and practising in your car or a car you have bought them, they will need to have learner’s insurance. If they are with a learning school, insurance will be provided, and they will not need their own policy until they pass their test.

Multi-car households

If you have a household with multiple drivers and multiple cars, things can get complicated when it comes to separate insurance policies. A multi-car insurance policy is a smart option as this can cover multiple vehicles on one policy, which often works out to be more affordable than having individual policies. Multi-car insurance is worthwhile if you have a teen driver with their own car as it will be easy to manage, and you can save money. Each car can also have its own separate no-claims discount.

Adding them to your policy

Another option is adding your teen to your policy as a named driver. While this can work for some, keep in mind that it can be expensive, and it will put your no-claims discount at risk (they will also not be earning their own no-claims discount). There are some insurance providers that offer an “insurance on a parents’ car”, though, which can protect your no-claims discount while allowing them to build their own - this will make it easier and more affordable for them to get their own policy when the time is right.

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As you can see, there is a lot to consider when it comes to insuring your teenage driver. It is important to take your time and weigh up your options to find the best solution based on your specific circumstances. Insuring a teen driver will always be tricky as they are deemed higher risk, but there are always ways that you can make savings and get the necessary protection for your teenager.

Disclaimer: this is a collaborative post.