An ever increasing number of parents are lying on insurance policy applications and claiming they are the main drivers of cars that are, in fact, used by their offspring.
The practice is called ‘fronting’ but what many parents do not realise is that it could lead to prosecution.
The problem is that if the child has an accident and injures a third party the insurer could refuse cover leaving the parent potentially liable for hundreds of thousands of pounds in costs.
Parents can be expected to find a staggering £4000 per year to insure a young driver but according to Ashton West, of the Motor Insurers Bureau, this figure ‘accurately reflects the risk posed by young drivers’.
Young Marmalade was created to reduce the cost of insurance for young drivers. By combining car purchase and insurance as a package Young Marmalade uses the benefits of volume to offer youngsters reduced insurance.
They are often able to offer our monthly package of car plus insurance at less than the monthly cost of traditional insurance, so they say.
Research conducted by Young Marmalade in association with First Car Magazine discovered that 41.79% of parents were actually fronting policies for their children.
Insurance companies often discover cars that are insured in one town but are mainly used in another – where an offspring is studying at University for example.
Parents should always consider safety first when buying insurance for their children.
