Is it cheaper insurance for you to be a named driver if your parent owns the car?

Mark J

you can add a name to an existing policy if that person occasionally drives the car. its designed for those odd occasions when say a child may drive the car occcasionally when the normal (named) driver is unable to drive.

however you cannot insure the car, say, in you parents name if you are going to be the primary driver. if you do and the insurers find out, and their is a claim they will attempt to strike out the insurance as invalid.

vodarevu 1944

It is cheaper for any one who has less thank 2 or 3 years of no claim discounts on the insurance if you are starting as a new driver then it is cheaper always to go on your parents insuring But the disadvantage is that most of the companies do not give credit /so called you will not get No claim discount until such time you are on your own(insurance)

jackson guitars are the best

Yes but it better be true as if you get into an accident and they discover that that's your own car they won't pay out.
And there are a billion ways they can tell a teenager's car,just take a look inside :)

Hita chi

sometimes but you never build up your own no claims bonus

its ok if you are going to share the family car but if you get your own go for independent insurance

loves christmas lights

Yes, most companies when the parents add on their child, the rates are reduced. Its because they are giving the discount to the loyal family for using their insurance company. Your parents can ask their company and get quotes from a few companies if they wish to. Its never cheap at your age so dont think there will be all that much difference, until you are 25 with no tickets or accidents, then your insurance will go down. Its so expensive, I never let my kids get their liscence unless they wanted to work and pay for their own insurance. Its like this. You buy a new car for say 15000 in two years its wrecked, the ins company only pays its new value which can be as low as half of that money, so if you go and total their car out, they lose up to 7000 in my scanrio here, thats why its so expensive, you do not have a few years of knowing how to watch out for accidents coming your way yet.

Champagne. Lost for words.

Only a little but it will still be high.

Plus, you won't gain your no claims bonuses to knock your next premium down, however, some policies hold a named driver discount.

You really need to shop around as you're more than likely looking at around 2k either way.

Buddha

Yes, it is. That's what I did for my son.

Miracles Happen Every Day.

Yes it is but if you get into an accident and they come to inspect it it should also look like it belongs to your parents.
Like, no 17 year old thingies inside the car or you'll find yourself not covered.

JustMeee

Yes it would be cheaper than insuring yourself.

I would be careful though, if you have an accident whilst driving on their policy not only will your no claims be affected but theirs will to and all your premiums will go up!

Many new drivers do have little bumps and scrapes so if I were you i'd get a cheap little run around to practice your driving skills in first. If the value of the car is low you can then insure as third party, fire and theft which should help keep the costs down.

callumbirkin

Yes, it WILL be cheaper

If you're added as a named driver.

I'm 22 and I'm a named driver, adding 200 per year on my fiance's insurance.

So I'd estimate that adding yourself to a claim SHOULDN'T add more than 500 (most likely under) depending on the insurance company, and what type of licence's held.

Firstly get your parents to find out if you'd build up your own no-claims whilst on their policy.

Failing that, some insurance company's will give you a DISCOUNT if you have a year or 2's named driving experience, rare indeed,

But give 4 young drivers a search, they're one "company" at present, that do this.

R.E fronting, the act of being a named driver, but driving around as you are the main, insurance company's are alleged to be catching wind of this, but I've never seen any of my friends suffer the consequences,

P.S I'm not telling you to break the law.

Fellside13

Doing it that way:

1. You are insured as an additional driver and therefore not the main driver.

2. You don't accumulate a No Claims Bonus in your name

J G

Usually, yes, but it's technically illegal - it's called 'fronting', but many people do it anyway.

taz c

No way - as a new driver, it'd be more expensive. It doesn't matter how many people are on the policy, you're a new driver & with more liability, the premiums will rocket.

coolcat23

Hi Just looking for some advice. I have my own car insurance policy for my own car, my sister has her own separate insurance policy for her own car. If i add her on as a named driver to my insurace policy and she drives my car and has a bump - i lose my NCB - from what i gather? How does it work if she has a bump in her own car, on her own policy, does that affect me and my policy in any way as she is a named driver on my policy? If i have a bump in my car with my insurance policy, would this affect her when she wanted to renew her policy on her own car if its me that has the accident in my car and claim on my insurance policy on which she is a named driver? Lots of combinations here i know but i would greatly appreciate any help with information as i cant seem to find this it anywhere! Thanks in advance - CoolCat23

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