Parents are paying around £525 extra a year once their children start driving, with many also lending the family car to help them get around, new research shows.
A survey of 500 parents whose children passed their driving test in the last three years found 94% have helped pay for them to get on the road. This included paying towards car insurance (55%), fuel (48%) and servicing or repairs (27%).
Family car use
Six in 10 parents said they let their child use the family car to learn to drive. Others said they also let them use it after passing to build confidence, visit friends and family, or go on social trips.
The research was commissioned by Compare the Market to showcase its temporary car insurance which offers cover for just an hour at a time.
Insurance expert comment
Insurance expert Emily Barnett said: “Parents play a huge role in helping young people get behind the wheel, whether that’s supporting learner drivers, lending the family car or making sure it’s available when it’s needed.
“Every family’s circumstances are different, but if someone only needs to borrow a family vehicle occasionally, it’s worth understanding the different insurance options available.”
Car sharing and awareness
The survey also found 37% of parents make the family car available while their child saves up for their own car, with 40% saying their child cannot currently afford one. A third (33%) said sharing a car is more convenient, and the same number said it gives them peace of mind that their child has access to transport.
Seven in 10 parents said they lend their car to their child at least once a week, and 37% said it happens several times a week. Nearly half said they have changed or cancelled plans so their child could use the car.
It also found awareness of temporary car insurance is relatively low, with 39% of people unaware you can insure a car for as little as one hour.
Barnett added: “Temporary car insurance can be a useful option for infrequent journeys, helping families insure occasional borrowing without needing to make permanent changes to an existing annual policy.”
