What Is Driving School Insurance?
With so many people need to drive these days, there’s an almost unending supply of students who need to be taught. Starting up a driving school can be a fulfilling business, where you get to help students learn a skill they’ll need for life.
Just as with any business, before you start it will be necessary to research all the requirements for running a driving school. You’ll need to get your instructor’s license, research the competition in your area, develop a plan and a curriculum, and more. Don’t forget to buy driving school insurance when you’re ready to go into business.
What Driving School / Instructor Insurance Can Include In The Policy:
Any Driver Cover
Flexible Monthly Payments
24hr Claims Helpline
Accident Support / Replacement Vehicle
No Claims Discount / Protected NCB
Negligent Tuition Cover
What is Driving School Insurance?
Think about this for a minute – your business is to teach others to drive. Driving inherently carries certain risks, especially when you spend more time on the road. Regular car insurance doesn’t cover all aspects of your business, so you’ll need to buy driving school insurance to protect your business, students, yourself and your car investment.
Driving school insurance is a type of business insurance that works to protect your company against financial problems due to auto accidents. Keep in mind that driving insurance is necessary for both PDIs (Potential Driving Instructors) and ADIs (Approved Driving Instructors).
Types of Driving School Insurance
You want to make sure your coverage protects your students, you, your car, and your business so it’s important to choose the right type and amount of coverage you’ll need. As with other types of insurances, you’ll find a variety of driving school insurance policies, including:
- Negligent tuition insurance: protects you against claims made by students as the result of an accident.
- Personal accident insurance: this type of coverage protects you and the passengers in your car if you’re in an accident.
- Gap insurance: protects the value of your car should it need to be replaced. This cover pays the difference between the insurance company’s settlement on the day your car was written off. It also covers any outstanding amount owed on your finance agreement (including leasing agreements).
- Any driver insurance is a comprehensive policy that covers you, your students and the car. It will cover anyone you’re teaching: new drivers or licensed drivers, no matter their level of driving experience. Some policies will even cover the examiner during a driving test if they need to intervene during the test at any time.
- Uninsured driver protection insurance: if you’re in an accident with an uninsured driver, this coverage protects your no claims discount.
Be sure to ask the insurance company’s some questions, too. Don’t buy any insurance policy blindly and always read through an insurance policy before signing up for it. You don’t want any unpleasant surprises somewhere down the line.
Ask insurers these questions when you’re shopping for insurance:
- Ask the agent: Are you versed in the driving school industry?
- Does the insurer offer professional liability coverage?
- How long does it generally take to handle the claim and get the car back out on the road?
- Do they allow monthly premium payments or only annual?
Don’t hesitate to ask questions—if an insurer or an agent seem annoyed or frustrated with your questions, then it’s best to move on to the next insurer. You need a professional insurance company and agent who will be ready to help when you need it.
Considerations for Buying Driving School Insurance
As a business owner, you’re looking to keep costs down, but you need to know up front that driving school insurance does tend to be higher than regular auto insurance. This is because the risks faced when driving is increased, so insurance policies tend to reflect this increased risk with higher premiums.
To get cheaper insurance premiums, keep these points in mind:
1). Look for insurance companies that specialise in driver’s insurance. They understand the business and what you’ll need to protect your business, etc.
2). Consider paying a little more to ensure your students, you and your car are protected. You may opt for a slightly better policy or see if the insurer offers add-ons to create a more customized policy for your unique business.
3). Increasing your excess can lower your premiums but understand that if you need to make a claim, then you’ll have to pay out of pocket after the insurance company pays its portion. This can be quite expensive, so make sure you can afford to raise the excess. Otherwise, choose a lower excess, with a higher premium to keep from paying as much out of pocket.
4). Alert the insurance company to any modification of the car used for driving lessons. For instance, if your car is dual control, has additional mirrors and speedometers, signs (alerting other drives there’s a student at the wheel), etc, this could help keep your premiums down.
Another way to keep prices down is to comparison shop online. Using a comparison insurance site is a fast and easy way to find insurers who specialize in this type of insurance and you’ll find the right policy and prices faster, too.
We hope this guide helps you to find the best insurance coverage for your driving school! Remember don’t hesitate to ask questions and get the best policy you can to protect your students, you and your business.
Get A Driving School Insurance Quote
What is the meaning of driving instructor?
A driving instructor is a person who is hired by a new driver who is learning how to improve their skills – often for an upcoming practical test. … A driving instructor has several names and can be recognised as: Car Driving Instructor, Educator, Instructor, Teacher or HGV Driving Instructor.
Do driving instructors need special insurance?
Whether you’re working for yourself as an Approved Driving Instructor, Potential Driving Instructor or work for an established driving school, you’ll require cover far beyond that provided by standard car insurance.
What qualifications do I need to be a driving instructor?
- ADI qualifications.
- Held a clean driving licence for at least three years.
- Over the age of 21.
- Pass a DBS check.
Find out more information here: https://www.ucas.com/ucas/after-gcses/find-career-ideas/explore-jobs/job-profile/driving-instructor
What affects my driving school insurance premiums?
Depending on what sort of driving instructor you are, your insurance can be a different price. A few key determining factors are:
- PDI or ADI: If you are learning to be a driving instructor there is a six-month probationary period where your premiums will be higher.
- Part of Full time: Often people work as a driving instructor part-time, which insurers will take into account.
- Type of car: As with getting any kind of car insurance, the type of car, in particular the size of the engine, will play a role in how expensive your insurance is.
- Location: If you live in an area with a high crime rate, this can play a significant role in the price of your policy.
How to find cheap car insurance as a driving instructor?
As with any insurance, the best way to find cheap car insurance policies is through comparing different ones and finding the plan that suits your needs as a driving instructor best. Put simply, the more additional cover you have, the more expensive it will be. Therefore, it is crucial to work out what will you will need to carry out your job.
There are a few other ways in which you can reduce your premiums, including:
- Purchasing a new car: a high upfront cost, but more modern vehicles are more fuel-efficient and reliable. Because of the amount of time your car will be on the road, you will have to spend much more on upkeep than previously
- Insurers will take into account your storage and security precautions, such as parking the car off the road. Similarly, you could buy an immobiliser to keep it safe from being stolen
- The easiest option would be to increase your excess. In the event of a claim, by being willing to pay more towards the repair, you will pay less in monthly premiums.
What are the different types of driving school insurance cover?
As you’re spending so much time on the road, it can be quite risky, particularly when you consider other drivers too, so protecting yourself, students and your business from crippling financial consequences are so important. There are numerous driving school insurance policies to choose from:
- Negligent tuition insurance
- Any driver insurance
- Uninsured driver protection insurance
- Personal accident insurance
- Gap insurance
- Finance protection insurance
What are the benefits of driving school?
Better driving record. Attending a driving school helps teach you the proper skills and education to gain better driving habits and help you become an excellent driver. Apart from developing appropriate driving habits, completing your driving lessons will result in lower car insurance premiums.
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