Car Insurance - add on parents

nemo183 · 12 July 2005 at 1:55AM

I've spent some time looking at the cost of student car insurance - couple of obvious tips -

1) As long as you can justify it, check the difference between your Uni address and parents address - often a big saving - but DON'T do it if you can't justify it - be a shame to fail the voice stress analyser on the claims hotline (perhaps better to request forms be sent than claim on the phone?)

2) Add your parents as named drivers on your car. Seems, in some cases, to reduce the premium by £50 per extra parent - assuming they are snowy white.

stuwilky · 12 July 2005 at 9:53AM

A word of caution about 1) some policies only permit you to keep the car at an alternative address for a restricted period of time.

2) however is a great idea. I am over 25, and even adding my wife and my father as named drivers onto my policy saves almost £60. It also gives us a bit of flexibility.

chillipepper_3 · 17 July 2005 at 1:38PM

This might help some and its certainly worth a try:

http://forums.moneysavingexpert.com/showthread.html?p=702507#post702507

MarkyMarkD · 17 July 2005 at 5:28PM

I never thought about adding parents to my policy ... I shall have to try it when I next get a quote. There are often occasions when an extra potential driver is a benefit.

nemo183 · 18 July 2005 at 1:02AM

Something also worth considering is a nine month accelerated bonus scheme. My son had a renewal quote of £1130 from Tesco, but £990 from Norwich Union. NU would also quote for a nine month policy, which was about £2 a month more, but enabled you to claim (with them) a renewal of 2 years no claims bonus 3 months sooner.

It's hard to judge if this is a good deal. Not all insurers will accept this concept, so at renewal it maybe only NU that accept this as 2 years no claims - and although at the moment they seem very competitive for all sorts of insurance, this type of policy will rather get you stuck with them - because you can't get alternative quotes and claim a "formal" 2 years NCB.

Does anyone have any practical experience or insider knowledge of these schemes?

ohit · 20 July 2005 at 8:11PM

Bonus accelerator polices are a con. Waste of time. Waste of money.

Only the issuing insurer will allow them, and by that time the price is up anyway. Don't bother. I *nearly* got stung just a couple of months ago.

nemo183 · 22 July 2005 at 2:39AM

Having spent some time bashing quote details in, it's strange to report that some companies will reduce premiums for each extra snowy white driver added, whilst other will increase them.

I found NU the most helpful - i.e. best value. However, it's worth considering that the NU online quote system asks for "additional drivers you wish to add to the policy”, and yet when the paperwork arrives, it says these drivers are "regular users of the car"

So what is regular? On the one hand, it can mean "normal, everyday". On the other, it can mean "at fixed intervals".

What it suggests to me is that insurance companies are becoming somewhat disingenuous with online quotes.

prismatic · 9 August 2005 at 9:23PM

"Bonus accelerator polices are a con. Waste of time. Waste of money.

Only the issuing insurer will allow them, and by that time the price is up anyway. Don't bother. I *nearly* got stung just a couple of months ago."

just to let you know i was with diamond for my first two years getting a years no claim bonus for 10 months insurance cover and i got to take it with me when i switched insurers (my car was killed in a crash and i decided to splash out on a new car and got a years free insurance so i didn't have a choice about switching, might have done anyways though :P). No probs no hassles mabey it just depends on who you insures you

Car Insurance - add on parents

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