Insuring Your Car Under Parents Name?
Insuring your car under your parents’ name, if you are the full time driver, is insurance fraud.
When you take out a Young Driver insurance policy, whether it be with Think Insurance or any other insurance broker, you must insure it under your name if you are going to be the main driver and owner of the vehicle. If you are the main driver then taking out a Telematics insurance policy in your own name is not only required from a legal point of view, but it can help save you money in the future.
Taking out an insurance policy in someone else’s name, whether that be a parent, sibling or someone else, with the main driver put down as a named driver, is called Fronting. We strongly advise against anyone from using Fronting as a way to reduce their Young Driver insurance premium for several reasons.
Firstly, Fronting is illegal, and if you are caught, the best case scenario will be having your insurance policy cancelled. However, there are a number of other possible outcomes that are more likely and more severe. These outcomes include the insurer voiding your insurance policy, which would mean you were never technically insured in the first place, and will have committed a criminal offence for not being properly insured. Fronting, on any policy, is considered fraudulent activity and as well as finding yourself in trouble with the law, you will also find it difficult to get insured again in the future.
However, if you are the policy holder and main driver, there is a way you can reduce the cost of your Black Box insurance policy by adding one of your parents as a named driver, as long as they have a clean driving licence and a good history of claims free driving.
Can My Parents Pay For My Young Driver Insurance?
Yes, your parents are allowed to pay for your Young Driver insurance premium, they just cannot be named as the main driver. If your parents have paid for your Black Box insurance you may be wondering: Can my parents access my portal to see my performance? The answer to that question is yes, but only if you allow them. As the policy holder on the Young Driver insurance policy, you will be in charge of who can login to your Young Driver portal.
Build Up No Claims Bonus On Your Own Young Driver Insurance Policy
One of the main benefits of being the proposer on your Telematics insurance policy is the opportunity to build up your No Claims Bonus. If you are only named as a driver on a policy, you won’t be able to claim that year for your No Claims Discount, in addition to opening yourself up to a host of legal difficulties if you are found to be Fronting.
Having a year or more of claims free driving isn’t the only way to get discounts when renewing your Black Box insurance policy with Think. You can also earn good driver discounts at renewal by having a good Driving Performance Score.
If you have any more questions about the Think Insurance Young Driver insurance policy then you may be able to find the answers in our Young Driver FAQ section. However, feel free to call us on 800 221 8077 where you will be able to speak to a highly skilled member of our specialist Young Driver insurance team.
Or, alternatively, if you are ready for a Telematics insurance quote you can ring the number above or you can click ‘Get a Quote’ below and a member of our team will be in touch shortly to discuss a Young Driver insurance policy with you.
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