Cheap Car Insurance For 18 Year Olds latest 2023

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Is Short Term Car Insurance A Useful Product For Students

Students returning home from college or university during the holidays can create problems when they want to use a car to get around. Usually they are not independently mobile due to their limited finances and the cost of young driver insurance.

Their parents have usually committed significant financial resources to support them in higher education, which in most cases does not leave enough to help with the purchase and running costs of a car for the student . This can lead to a dilemma when the returning student asks permission to borrow their parents’ car.

They must have appropriate insurance which involves parents contacting their broker or insurer directly to make a mid-term adjustment to their annual car insurance policy to include the student as a designated driver.

It takes a lot of time and effort, not to mention the added premium for the fit. What’s worse, from a parent’s perspective, is that any claims while the student is driving usually impacts the parents’ no-claims bonus, causing the premium to increase at annual renewal. Now you can see why this causes problems for parents.

Short-term car insurance can, in certain circumstances, provide a solution to the parents’ dilemma. The basis of term auto insurance is that you can purchase separate short-term coverage for up to 28 days by completing a simplified application online and making payment for the selected period.

The process involves searching the internet for the URL of the company or search terms such as short term car insurance or temporary car insurance. The daily insurance certificate can be printed at home and the policy is registered with the MID.

Also, most short term car insurance providers offer uninsured loss recovery as part of the insurance and one company offers dayresQ which is daily roadside recovery. The most important feature of term insurance, from a parent’s perspective, is that any claim under the policy does not affect the parent’s annual policy with no claim reduction.

The policy is separate automobile insurance in the student’s name. It is flexible and can be taken out as often as you want, even for an odd day once in a while.

It can’t be all good news, can it? Unfortunately this is not the case, there are strict age restrictions on most policies with the youngest eligible age being 21. The driver must also have had their UK or EEC license for at least 12 months. Obviously, this would prevent a lot of returning students from being able to purchase the insurance.

However, this leaves most students in their later years of college eligible and that might not be such a bad thing as they are able to borrow the car with a bit more maturity under their belts. After all, would you trust your 19-year-old student with the keys to your car, I know my parents didn’t trust me to drive safely at that tender “I’m bulletproof” age.

So in answer to the question posed by this article, short term car insurance is a great solution to the problem of returning students wanting to borrow parents’ car to take all their pals to Glastonbury, provided they have more 21 years old.

However, it will still be necessary to undertake medium-term adjustments to the parents’ annual car insurance policy to insure young students under the age of 21. As they say, you can’t have it all.

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