Have been looking at insurance quotes for my son, who will be (re)taking his test soon, and plans to buy a car.
Quotes are around £1,400 TPTF (£250 compulsory excess)and £1760 Fully Comp (£250 compulsory, £250 voluntary excess)
If we then add his mother as a named driver the quotes drop to £1,055 TPTF and £1,265 Fully Comp, same excesses
Question 1.
We wouldn't otherwise add his mum to the insurance but it would seem sensible and legitimate to do this, the insurance is still in his name, with him as main driver, and there may be occassions when mum might drive his car. Or have I missed something?
Question 2.
Given that adding his mum makes the fully comp premium less than the TPTF without her, is it worth going fully comp, bearing in mind car value would be around £1,000 and excess would be £500?
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1) Don't think you're missing anything - we did this for my daughters car, insured with Admiral. Of all the quotes that we got, I think that they (and their other group company's, Elephant etc) where the only ones where this happened. Although Admiral and Elephants quotes where the same, I seem to recall that Admirals excess structure was more favourable.
2) On the face of it, doesn't really seem worth it. You may be being very realistic with the cars value, but the insurance company will probably think it's worth even less.
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Myself, I would go TPF&T.
£210 buys a lot of petrol. Possibly make him drive a little more carefully if he knows the consequences. If he makes a claim, it's not only the excess, but the bumped up premium and the back to square one of the start of building a NCD.
Unless he/you are rolling in cash of course........
Martin
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The insurance on my car was cheaper with my wife as named driver. Conversely, my wife's was cheaper with me on. How on earth does this work? Surely 2 drivers is a greater risk than 1?
I'm in my 40s and my wife her late 30s both with clean licences and max no claims.
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\"Nothing less than 8 cylinders will do\"
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I had this too v8man. Apparently the thinking goes that if you are in a stable relationship then you are a lower risk.
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Apparently the thinking goes that if you are in a stable relationship then you are a lower risk.
Could it also be that a couple should be safer if they share the driving? With two drivers, better chance that one will not have had too much drink, and on longer journeys there is someone else to take over if tired.
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Answer to both questions is yes, My dad is on my insurance as a named driver which makes it cheaper. Have always used fully comprehensive insurance as it means that should someone run into you your insurance company should chase it up quickly as they will have to pay the initial cost otherwise ( or so I've been told, Im sure someone will correct me if I am wrong)
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Im a student ive got time!!!
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I am 30 yrs of age, 10 years no claims, but it is still cheaper for me to insure my 2.8 Golf VR6 with SWMBO as a named driver even though she only has 2 years no claims and 1 accident.
Work that out!
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>>Work that out!
Easy.
Statistically 2.8 Golf VR6s insured by couples have a less expensive claims experience than 2.8 Golf VR6s insured by a lone male.
Therefore the insurance is rated differently because that's all the underwriter cares about.
Now, as to why there might be that statistical difference, then the conversation is longer and more complex; but all the insurer cares about is that there is a difference.
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