Learner drivers could save thousands of pounds on their insurance – and protect their parents’ no claims bonus at the same time – thanks to a new policy introduced by Adrian Flux.
Parents, family or friends adding a young driver to their own insurance will often be faced with crippling additional premiums, and run the risk of losing some or all of their no claims bonus in the event of a fault claim.
But Flux’s new scheme allows youngsters between 17 and 25 to take out their own comprehensive insurance on someone else’s car from less than £2 per day.
The cover can be taken out on a month-by-month basis, so learners only pay for the cover they need before passing their test.
Harry Dodds, 17, from Norfolk, was the first to take out the new cover. He is learning to drive in his father, Clive’s, VW Passat, and has taken out a three-month policy costing £175, a saving of £750 on an annual basis if he had simply been added to his father’s policy.
The Passat is currently insured with Flux at an annual premium of £450, but adding Harry as a named driver would push this up to £1,800.
“This policy is an absolute no-brainer for learner drivers,” said Mr Dodds senior. “It’s a win-win situation – it’s saving us a small fortune in premiums and if Harry were to have a minor bump then my no claims bonus is unaffected.”
And Harry added: “It will enable me to get in some valuable extra practice and hopefully I’ll be able to pass my test sooner, saving more money on lessons and insurance in the meantime.
“It’s the perfect policy for me at the moment.”
Gerry Bucke, general manager at Flux, said there was a clear need to help learner drivers get more driving experience without heavily penalising their parents, family or friends.
“Although young drivers have a higher accident rate overall, this doesn’t apply to learners who have to be accompanied while driving at all times,” he explained.
“But traditional insurance policies don’t take this into account, and therefore the premiums charged to add learners to existing policies are out of kilter with the actual risk.
“We hope this policy will address that and help more young people get that extra practice that will help them pass their test.”
How it works:
- The learner driver takes out a policy for either one, two or three months on a specified car owned and insured separately by a third party
- The cover must be comprehensive and for vehicles up to insurance group 30 valued at no more than £20,000
- Policyholders must have a UK provisional licence and the accompanying driver must be over 25
- Cover automatically stops when the policyholder passes their driving test
- All postcodes in the UK are eligible, split into just two rating areas, with premiums starting at £90 for one month’s cover
- Any claim will be settled on the learner driver’s insurance policy, and will not affect the no claims bonus of the vehicle owner’s insurance
Call 0800 369 8590 for a free quote and immediate cover.