Getting your 18-year-old on the road can be a bumpy ride- it can be daunting for them when they’re learning to drive. But it doesn’t have to be with our top money-saving tips.
Shew, the time has come. You’re getting prepped and ready for another member of the family to start driving. You know what that means: a few white knuckles on the wheel, some snappy back and forths during parking lessons and, last but not least, a few unexpected expenses.
Luckily, you can prepare for these costs by putting a few important things in order.
Read more to find out how you can protect your bank account with a few easy options.
1. Good drivers are cheaper drivers.
You can’t control what happens on the roads, let’s get that out of the way. Nobody can predict when an accident will happen, but there are techniques that make being on the road significantly safer.
You may be a fantastic driver (and we’re sure you are!), but you may not be the best teacher. We had to say it! The longer you drive, the less aware you may be of poor driving habits.
It’s safer to leave the learning process in the hands of professionals! Making sure your kid gets in the car with a professional driving instructor is going to do wonders for their confidence and well-being on the road, and helps learning to drive go faster.
Fewer dings and dents mean fewer petty insurance claims. Avoiding a big accident is even more important.
If you’re keen on giving them a few beginner’s lessons, read our proven tips for teaching your teen how to drive here.
2. Hold up on buying them a car.
This may not be the most popular opinion around, (especially with the teen in question) but it is something to consider.
Having a new household car means a whole new insurance policy, which is usually the costliest expected expense when you buy a vehicle.
If you choose to share the cars you already have, you can add your child to your policy as a secondary driver as opposed to a primary driver. We’ll talk more about saving money on insurance policies in a sec. There is the added benefit of allowing the new driver some time to become a completely confident driver before they have their own vehicle.
Related: How to Pay Less for Car Insurance as a Young Driver: 7 Tips
3. Find a cheaper car to insure.
Maybe sharing a car isn’t an option. You may both need to get to work or maybe your child has saved up to contribute towards a car. Maybe you really think they deserve it. If that’s the case, be wise about the car you choose.
Safety is always a top priority, and insurance is a part of that. Do your research with different insurers to find out what premiums they generally offer for different vehicle models.
Premiums will depend on a calculated risk profile: the age and novel status of a new driver being at the top of the list. So, you’re going to want to outweigh that risk with a safe model, year and vehicle make.
Related: Safe driving techniques that just might save your life
4. Put them on your policy.
Hopefully, when insurers look at your driving history, they are happy to take you on as a client. By adding your child onto a car insurance policy, your insurer may take your glowing driving history as a reason to let your kid onto your policy for a budget-friendly premium.
Having your loved ones on your policy doesn’t only save you money, it saves you a ton of time.
5. Choose your excess.
This is a money-saver you’re probably only going to find with us, Oneplan. Unlike most car insurance companies that give you a fixed (no negotiations) premium, we let you decide how much you want to pay per month.
You have the option to take out a higher premium so that you have a lower excess amount. Alternatively, you can also opt for higher excess payments and lower premiums.
You can figure out which one works best for your family. If you are confident your teen is a safe driver and you have the emergency funds to pay for a higher excess fee should there be an accident, the latter will work well for you.
When you have comprehensive car insurance that cares about saving you money, your stress levels can take a well-deserved break while your teenager is learning to drive.
Your Insurance Family,
Oneplan
