Excite

Lowering the cost of car insurance for 17 year old males

If you're a parent with a child who has just recently started to drive, you've no doubt begun to realise just how tricky it can be for younger drivers to find affordable insurance, and how important it is for their parents to come to their aid financially in order to get them on the road.

Many parents think that the approach of taking the insurance out in their own name, claiming that they'll be the main driver, and then turning the vehicle over to their child who is named on the insurance policy is the cheapest way to help reduce the cost and build up their child's no claims discount, but the truth is that it is actually a very risky approach that could very easily end badly.

If your insurance company find out that your child drives the car substantially more than you do, they will invalidate the insurance policy which runs the risk of high financial liability should there be an accident, as well as 6 penalty points on your child's license for driving without the correct cover.

Obviously no parent wants this for their child, so we have compiled a list of alternatives that may be more suited to your circumstances and those of your child when it comes to car insurance for 17 year old males.

If you haven't yet got your child on the road, it is best to look for a low powered car, as this will have a direct effect on the cost of the insurance premiums. Be sure to get as many quotes as possible, offering to limit the use of the car by your child - there are plenty of companies out there who will offer a discount if you suggest limited driving hours or a maximum number of miles per year.

Increasing voluntary excess will also drop the cost, but if there is a claim on your insurance you will have to cover the specified amount yourself so it could potentially prove to be a little more expensive in the long run.

Finally, we cannot stress enough how important it is to do your shopping online. Many companies offer discounts for buying your policy over the internet, and it's much easier to get numerous quotes in that way, enabling you to find the best price on offer.

United Kingdom - Excite Network Copyright ©1995 - 2017