Car Insurance customers may see premiums soar by £5,000 for making one mistake
Despite the risks, adding a child to a policy is still popular among parents desperate to help their sons and daughters save expensive costs.
Research from Go Compare revealed one in ten parents have insured a car in their child’s name in order to save money.
The poll found a further 34 percent said they would consider doing the same to help their children.
However Go Compare warns motorists could run the risk of being prosecuted for their actions and having their policy invalidated.
Parents who add a young driver must ensure they are the main driver of a vehicle and not simply adding their name on to reduce costs.
Published at Thu, 02 Jul 2020 08:22:00 +0000