Insurance ‘fronting’ for your children is not a good idea

If you’re “fronting” for your children — that is, taking out a car insurance policy in your own name rather than naming your child as a driver to reduce costs — be aware that not only could an accident claim be repudiated, you could also be left uninsurable.

Helen Szemerei, executive officer of IntegriSure, says a growing number of parents are fronting for their children without fully understanding the risks of doing so. You need to declare all information upfront with your insurer; not doing so is actually insurance fraud.

You will ultimately be responsible for costs if a claim is repudiated. Take note that in the event of an accident, the driver of an insured vehicle would be liable for costs should they be at fault and causes injury to a third party.

Full disclosure is vital. It may seem tempting to get a better insurance deal, but think very carefully about the potentially disastrous consequences.

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