Master Frugal is ready to start learning to drive which is causing me all kinds of anxiety as I’m a worrier and the thought of him driving an actual car terrifies me!
His car is ready now (that’s a whole other post waiting to happen but basically we bought an older car that needed fixing up) and he’s ready to start his lessons. Once he’s had a couple of lessons then I’m happy to take him out in his car and give him the chance to practice what he’s learning in his lessons so this week has been all about getting his car taxed and tested and ready to go.
I thought I’d share a couple of the options that I considered when I was looking at car insurance for him along with a couple of the ways that I saved money on the policy but before I do, just to point out the obvious – the amount you pay for your teenager’s car insurance will depend on so many different factors such as the car they’re driving, who owns the car, whose name the policy is in and where they live. By shopping around, you can find the best car insurance for teens.
These are the three cheapest options that I’ve found when insuring a teenage learner driver:
Buy them a car of their own and insure it in their name on a Learner Driver Policy
I did the same for Master Frugal as I did for his sister and bought him a car in his own name to learn in and then drive once he passes his test – trust me, he’s not getting his hands on my Audi. 😂
This is the thing that saved me more money than anything else which sounds ridiculous, doesn’t it? I paid £350 for a car that needed work done, £300 for the parts needed for the car itself (no labour costs as it was done as a favour in someone’s spare time), and then I insured the car on a learner driver policy which is much cheaper than a full policy for teenagers as it’s just a policy valid until they pass their test.
The policy I bought is just under £400 for an annual policy which makes the cost of the car and the policy cheaper than adding him to my car would have been.
This policy covers him in his car until he passes his test – at which point, we’ll reassess and see what our best options are.
Add them to your existing car insurance policy
This is the simplest option but for both of my teen learner drivers, it’s not been the most cost-effective. I’d give your insurance company a call to check to be on the safe side but for me, the increase in premiums has been too high for me to go with – especially when I add the risk facot of them damaging my car when they’re driving.
I much prefer them learning in an older car that I’m not too worried about if it gets a couple of dings or scrapes.
Buy an older, cheap-to-insure car in your name and insure it for yourself with them as the additional driver
This was something I considered and almost went with as we had his car and had to make a decision as to whether to put it in my name or his. I compared the prices for doing this and it wasn’t a bad option but the learner driver insurance was still cheaper.
The best way to ensure you get the best rates for your teen driver is to shop around and compare insurance policies.
How to Find the Best Insurance Rates for Teen Drivers
Comparison Tools
This is the biggest way to save money on any insurance policy in my opinion!
When insuring your teen driver, finding the right balance of coverage and cost is essential and was definitely something that was on my mind. I really wanted the right level of cover but didn’t want to send a fortune so I started by using an online comparison tool. These tools allow you to enter your child’s information and compare rates from different insurers – the one I used compared 130 different policies. This can be a quick and easy way to see which companies offer the best rates for your situation.
Ask for a discount
See if your current insurance company will give you a multi-car discount if you’re adding them on with a car of their own – lots advertise it and you don’t get if you don’t ask so make sure you ask the question.
However you choose to insure your teen, I’d recommend doing what I’ve done and explaining how insurance works and how expensive it is. If they don’t drive safely, they can have some very costly mistakes and an insurance claim early on in a policy will cost when you come to renew which Master Frugal knows I might not be able to afford!
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