Children’s
Car Crashes Cost Parents £128m
Teenagers are costing their
parents millions as they are paying £128m in damages
caused by their children crashing their cars.
According to car insurer Zurich, one in three new drivers
crash their cars in the first five years after passing their
test, resulting in their parents being hit hard in the pocket.
The costs being sustained by parents are a result of almost
a third of young motorists being on their parents’
car insurance policy. With the risk of losing their
no-claims bonus hanging over them, many parents have little
alternative but to pay for the repairs, with the average repair
costs coming in at £847.
Mark Winlow, managing director of Zurich’s UK personal
insurance business, said: “It takes time to build up
experience on the road and because of this, younger drivers
are often more prone to road accidents.”
Zurich’s research revealed that nearly a third of young
motorists are on their parent’s insurance policies,
meaning that if the damage is claimed through the policy,
parents may lose some or all of their no-claims discount.
Young drivers are often involved in motor accidents due to
their lack of road experience and in some case their need
to show off. This results in young drivers facing steep insurance
premiums, often unaffordable, and means the only viable way
to afford cover is through their parent’s policies.
Parents can prevent incurring the costs of damage repair
bills by taking out a no-claims discount policy, however,
there are better and more cost effective ways to protect your
car insurance.
According to Mr Winlow; “ The best thing for young
drivers to do is to take out a separate policy from their
parents, as this will enable them to build up their own no
claims bonus which will, even after a year’s claim free
motoring, offer a substantial discount.
“ It is also very worthwhile encouraging your child
to take the Pass Plus driving course, as most insurers will
give them an automatic 35 per cent discount on their first
year’s premium.”
The research conducted by Zurich found that young men were
involved in more accidents than young women, with 16 per cent
having a bump/accident within the first six months of being
on the road compared to just 9 per cent of young women.
Below are some tips from Zurich, aimed at parents, to enable
young drivers to get on the road:
· Encourage your child to take the Pass Plus course;
it automatically reduces their first year’s premium
by 35 per cent.
· Shop around for the best deals on insurance premiums
before buying a car for a child.
· Choose vehicles sensibly, as lower performance vehicles
will attract lower premiums.
· Do not insure a car for your child’s use in
their own name, as insurers may cancel a policy or refuse
a claim if the information used to take out the policy is
incorrect.
· Consider taking out no-claims discount protection
to safeguard no claims bonuses if the child is to be insured
on a parent’s policy.
Useful links -
Other useful Articles
- A no claims bonus can significantly
reduce the cost of your car insurance cover.
- As many UK motorists
are aware there are a range of factors which come into play
when companies decide the rate premium you pay.
- Road accidents can happen no matter
how good a driver you think you are – there are always
others to account for on the road, you never know when a car
could just pull out of nowhere.
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