acooling08 Posted 7 May 2012 Posted 7 May 2012 Got my first car today, Mazda 121 in very good condition, 1.2, 54k miles for £650. It's basically a Ford Fiesta with a Mazda badge or two. Bargain, I got it from a guy in Great Glen who didn't really need to hold out for too much money looking at his very nice house. Insurance is still £2250. Would putting one of my parents as a secondary driver help to lower the price a bit? Seems a bit ridiculous that I'm paying over 3 times as much in insurance than for the car itself.
Ross 'LCFC' Turner Posted 7 May 2012 Posted 7 May 2012 Got my first car today, Mazda 121 in very good condition, 1.2, 54k miles for £650. It's basically a Ford Fiesta with a Mazda badge or two. Bargain, I got it from a guy in Great Glen who didn't really need to hold out for too much money looking at his very nice house. Insurance is still £2250. Would putting one of my parents as a secondary driver help to lower the price a bit? Seems a bit ridiculous that I'm paying over 3 times as much in insurance than for the car itself. Put them as the main driver, prefabily the one who's got the most no claims and you as a named driver.
The Year Of The Fox Posted 7 May 2012 Posted 7 May 2012 Put them as the main driver, prefabily the one who's got the most no claims and you as a named driver. Disagree. Bite the bullet and have them both as named drivers if they both have a clean license. Get your own no claims building up.
The People's Hero Posted 7 May 2012 Posted 7 May 2012 That's called policy fronting and unless you want to pay out to have basically no insurance cover, I wouldn't recommend it! There is an assumption that insurers, underwriters and claims handlers are stupid. This is actually true in a lot of cases, but when your souped up Saxo/Corsa/Fiesta with shiny wheels and a big exhaust is involved in an accident with you at the wheel, the insurers might just cotton on thats its your motor afterall! Get your own insurance or don't bother.
The People's Hero Posted 7 May 2012 Posted 7 May 2012 That's called policy fronting and unless you want to pay out to have basically no insurance cover, I wouldn't recommend it! There is an assumption that insurers, underwriters and claims handlers are stupid. This is actually true in a lot of cases, but when your souped up Saxo/Corsa/Fiesta with shiny wheels and a big exhaust is involved in an accident with you at the wheel, the insurers might just cotton on thats its your motor afterall! Get your own insurance or don't bother. EDIT: I should have read it properly. Put whoever you like as an additional driver to bring the price down. Thats a good idea. But don't stick it in a family member's name and have you as an additional driver if you're the main driver. That could well end in tears.
Vacamion Posted 7 May 2012 Posted 7 May 2012 That's called policy fronting and unless you want to pay out to have basically no insurance cover, I wouldn't recommend it! There is an assumption that insurers, underwriters and claims handlers are stupid. This is actually true in a lot of cases, but when your souped up Saxo/Corsa/Fiesta with shiny wheels and a big exhaust is involved in an accident with you at the wheel, the insurers might just cotton on thats its your motor afterall! Get your own insurance or don't bother. EDIT: I should have read it properly. Put whoever you like as an additional driver to bring the price down. Thats a good idea. But don't stick it in a family member's name and have you as an additional driver if you're the main driver. That could well end in tears. A-HEMMMMM! Posted 04 November 2010 - 09:52 PM Tommeh, on 04 November 2010 - 07:26 PM, said: GET YOUR PARENTS INSURED ON YOUR CAR AND THEN BECOME A NAMED DRIVER. If your parents are 50 and you are insuring a souped up, be-spoilered, alloy wheeled Saxo with a personalised numberplate that looks like your name, the Insurer might see through your ruse... Even if they don't see through it (ie you drive a battered old Fiesta), you might be in bother. If you have a crash that is your fault, and THEN the Insurers find out, they will void the policy, return your premium and leave whoever you crashed into to sue you in your personal capacity, leaving you bankrupt. Insurers call it "policy fronting" and they target their claims handlers to look for it when claims are submitted. (I used to work for an Insurer)
ADK Posted 7 May 2012 Posted 7 May 2012 Tbh i did that when i was younger, was £450 to get insured that way vs like £2000. Trick is to not crash the car.
broughtonblue Posted 7 May 2012 Author Posted 7 May 2012 Update from my op. My lad passed his test at 18, bought an x reg 1.3 fiesta for £1400. Cheapest insurance he could get was £3,200 with admiral. They then gave him a quote for their multi car policy, where me and the wife change to admiral at our next renewal, this was £2,600 for all three cars! one year on and his premium has dropped to £1,200 with just 1 years ncb. Definitely worth a call
Soar Fox Posted 7 May 2012 Posted 7 May 2012 I passed my test May 2005 when I was 17. Age 17. Peugeot 206 1.1 £975 Pass Plus Age 18. Peugeot 206 1.1 £850 Age 19. Peugeot 206 1.1 £700 Age 20 BMW 1 series 1.9 diesel £645 Age 21 BMW 1 series 1.9 diesel £475 Age 22 BMW 1series 1.9 diesel £665 Age 23 Audi A3 S line 2.0 petrol £792 The price in the last 2 years has gone up but I have heard its cheaper if you buy diesels. Also I've found personally that admiral and swift have been the cheapest.
Recommended Posts
Archived
This topic is now archived and is closed to further replies.