You just can’t escape motor insurance. It’s a legal requirement but in the event of needing to make an accident claim or, more importantly, having one made against you, you’ll be grateful you have it. However, younger drivers have difficulty finding car insurance, never mind finding the cash to pay for it. But whatever you do, don’t be tempted to try and break the law to save a bit of money. If there is ever an accident claim, you might very well regret it.

Not even half of the mainstream insurance companies in the UK will offer insurance to teenage drivers. Buying a policy with one of the few that will could cost £4,000 which is often more than the value of the vehicle. Because the average male teen driver accident claim is worth much more than the sort of claims their female counterparts might make, the boys pay the most for insurance.

Statistics support the insurance companies’ assumptions that teenage drivers are likely to have an accident claim made against them. In this age group, drivers are ten time more likely to kill or injure someone than drivers with experience. Nonetheless, some parents are acting illegally in their attempts to bring down insurance costs.

Around one fifth of teenage drivers have no insurance at all, according to the Motor Insurers’ Bureau. Many others engage in a practice known as ‘fronting.’ This is when parents claim to be the main driver of a car and name their child as another driver when in fact the child is the main driver. For some it is a harmless way of saving a bit of cash. It is against the law.

If an accident claim is made and the insurance company realises that the teenager has been the main driver all along, there are serious consequences. Parents and teenagers can be prosecuted and might find it difficult to get insurance again. Insurers can also refuse to pay out some or all of the accident claim settlement.

Attitude surveys seem to show that many people use ‘fronting’ and that people believe it is harmless. However it certainly isn’t worth risking prosecution, or the cost of a whole accident claim settlement if the insurance company refuses to, no matter how much money you could save.

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL

Leave a comment

You must be logged in to post a comment.