Hyundai Coupe Forum banner
1 - 7 of 7 Posts

·
Premium Member
Joined
·
7,563 Posts
Discussion Starter · #1 ·
Many people have found a great way to dramatically drop the cost of their insurance, especially for young drivers. This is by getting their mum or dad to insure the car in their name and add them as a named driver, this will reduce your premium to a certain extent but the insurance brokers aren't stupid. They know that your middle aged dad won't be running around in a heavily modified car. Many companies treat applications with named drivers with more care to avoid this happening as it can be very costly to the broker.

If you do put yourself as a named driver then it does you absolutely no favours in the long run because the longer you stay on another persons insurance policy the more time you're wasting not building up your own no claims bonuses. This will mean that when you come to take your own policy out you will be paying more then someone who started their own policy in the first place.

Another problem you may come across is in the event of an accident which you were to blame then the member whose policy you are on will lose their no claims because of it. Never accept to be the main driver for a friend or family as you could lose all you've worked for, not only that but your next premium will higher then the preceding years. If you were to have an accident then it becomes really tricky if you're not the main policy holder as you have to be careful of everything you say as a lot of insurance companies catch people out during the claim process. You have to remember that the company you are paying for your insurance wont automatically be on you side because like any other company, their main aim is to make money so they will pick up on any incorrect details which will make your insurance void so they don't have to pay out!

Saving those few extra pounds a month becomes irrelevant when you get the repair bill for your car that could be infinite depending on the severity of the crash. You could even be left with no car if it was written off if it wouldn't be cost effective to repair it.
 

·
Registered
Joined
·
8,624 Posts
Even a slight slip of the tongue, such as ringing up and saying you've crashed your car, and its registered to your dad, will get them suspicious.
I beleive it something being looked into at the moment, and will be tighter rules, and possilby legal rules brough in.
 

·
Registered
Joined
·
1,892 Posts
I've always been on my own insurance, funnily enough adding my dad as a named driver put it down massively!
When I took out a policy on my first car I had a look at being under my mum and dad (separately). Under my dad it was no different at all, I've been told that insurance these days is based on the youngest/highest risk driver on the policy. However under my mum who had had a bump the year before (only small) I was quoted £15,000! The guy insisted this was right for a new driver. Lol.
 

·
Super Moderator
Joined
·
2,052 Posts
This is known as fronting as is very very common, most companies will now ask for the estimated mileage of each driver.

Also note:
if you declare that you dont drive to car to work (commuting) and you crash your car on the way to work, your insurance company reserve the right to not cover you as that isnt part of your policy.
 

·
Registered
Joined
·
576 Posts
As chapp said above, its known as insurance fronting. For what the hassel is worth if you as a named driver pile the car up, you could have taken your own policy out. I sat down and spoke to an insurance company about it as i thought about it, not worth the hassel and you can have the policy cancelled by them if they know its you who is the main driver of said vehicle.
 

·
Registered
Joined
·
8,624 Posts
A few companies like Direct line offer NCB to all named drivers, but the majority don't, so if you fork out more at 17 for your own policy, you'll be paying alot less at 21 than someone who's been on mum and dads policy for 4 years and then decides to move out and has to go alone.
 

·
Registered
Joined
·
66 Posts
Just face the facts.
The first few years of driving will cost you a fortune in insurance premiums (maybe as much as the car itself).
But providing you drive OK & have no accidents you'll soon fine the premiums coming down.
I'd advise starting with fully comp in your own name as as an only driver... there's less wriggle room for the insurance company when you make that first claim.

Now that I'm 40, and my wife close to 40, we are shocked if insurance costs us over £400... and that includes some business usage as well.
 
1 - 7 of 7 Posts
Top