Important Advice for parents of Student Drivers from Be Wiser Insurance
As the clock ticks down to the start of the new University semester, many parents are planning to let their student offspring take the family’s second car to their new accommodation, granting them as much freedom as possible as they leave the nest.
Although this may seem like a kind-hearted gesture, most families are unaware that by “giving up” the second vehicle they could be at risk of footing a huge bill if the car is stolen or in an accident.
Mark Bower-Dyke, Chairman of Be Wiser Insurance, says “Many parents are invalidating their car insurance policy by failing to inform their provider of any changes in the car’s main driver and location. Parents need to check their existing policy thoroughly. In most cases the student would be listed as a named driver who, by definition, is only an occasional user of the car.”
“Once the student takes the car away they become the main driver of that vehicle. This means that if anything terrible was to happen the insurance company could refuse to meet any claims as they were not in possession of the correct driver details.”
Bower-Dyke continues “Unfortunately, your premium will rise, but failing to inform your provider quickly could leave you uninsured and out of pocket – so it’s best to make sure you’re covered.”
“Universities are notoriously bad for safe parking, and most inner-city campuses are adequately serviced by trains and busses. Most of the time the car will be left on the road-side where it is at a greater risk from theft or damage.”
Bower-Dyke concludes “You have to consider if it’s worthwhile sending your son or daughter to University with the car. Although having the car may be handy in emergency situations, if the annual insurance premium goes up by say, £800, it may be a better idea to pay for occasional car hire or a student railcard.”