Staying on Your Parents’ Car Insurance
Deciding whether staying on your parents’ car insurance is the most practical option for you can be tricky. Here are some guidelines to help you decide how long to stay on your parents’ car insurance:
Benefits
- It can be cheaper to stay on your parents’ car insurance
- You can build up your no-claims bonus, which will benefit you when you get your own insurance policy later
- It can be simpler than getting your own insurance
Things to consider
- If you are in an accident, it could affect your parents’ premium
- At what age you may no longer be able to stay on your parents’ car insurance
- If you stay on your parents’ policy and move out of the house, you may have to change your address with your insurer
Age Limits
Age limits vary, depending on the insurance company and the geographic location. Generally, you can remain on your parents’ insurance until you’re 25. If you’re over 25 and still living at home, it may be possible to stay on your parents’ policy, though most insurers will require you to provide proof of residency.
It’s important to remember that insurance companies consider any vehicle you’re regularly driving to be a part of your parents’ policy. This can be a problem if you’re regularly driving a sports car or expensive vehicle. In this case, you may need to get separate insurance.
Final Thoughts
Staying on your parents’ car insurance can be a great way to save money, but before you make the decision, it’s important to consider the age limit, the potential repercussions of an accident, and whether or not you need to get separate insurance for any vehicle you’re regularly driving. Good luck!
