Being a driver instructor can have a lot of overheads. You’ve got the cost of fuel, tyres, general wear and tear and more significant repairs to contend with. On top of that you’ve got the money you spend promoting your business in print and online.
Add to that the inevitable slow periods at some points during the year, and it can be hard to make sure that the books stay balanced.
Another not insubstantial cost is driving instructor insurance, so if you can get a good deal on this then it can have a significant positive effect on your bottom line. Here’s our list of the top 5 things that can determine driving instructor insurance cost.
- What kind of instructor you are – Whether you’re an Approved Driving Instructor (ADI) or a Potential Driving Instructor (PDI) is important. Though it might not always be the case in practice, ADIs are generally seen as being more competent and better teachers, primarily because they have completed all the necessary qualifications to receive their full teaching licence. Therefore their driving instructor insurance policies are likely to be less expensive. Financially then, it makes sense to accelerate your graduation as far as is possible.
- What kind of car you drive – Just as regular car insurance can vary wildly depending on the type of vehicle you drive and the size of its engine, so too can driving instructor insurance. If you’re in the market for a new car, this is something to bear in mind when choosing.
- Where you live/ work – It’s a fact of life that more crime happens in some areas than others. This results in a higher risk of the insurance company having to pay out, and this additional risk translates to additional premium on your policy.
- Type of cover – All driving instructors will generally want to opt for a fully comprehensive policy that includes public liability cover. Driving schools may also need employers’ liability cover. You may also want cover for teaching drivers who have previously been banned/convicted.
- Who your insurer is – There is no set rate for driving instructor insurance, and different insurance companies may have widely varying policy costs. It therefore pays to shop around.
Questions about driving instructor insurance cost? Get in touch with our expert team