Car with multiple insurance policies
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Hi,
my car is insured in my name. My son is also covered, under his own "learner only" policy. I am likely getting another car soon, so intend to switch my policy to that one. Am I best to keep the original car in my name, insured just on his policy? A problem doing that is I would not be insured to drive it under my policy as it would not be "not owned by you etc".
The alternative is to transfer the car into his ownership and presumably notify his insurers? Or transfer it to my wife's name....
Thanks!
my car is insured in my name. My son is also covered, under his own "learner only" policy. I am likely getting another car soon, so intend to switch my policy to that one. Am I best to keep the original car in my name, insured just on his policy? A problem doing that is I would not be insured to drive it under my policy as it would not be "not owned by you etc".
The alternative is to transfer the car into his ownership and presumably notify his insurers? Or transfer it to my wife's name....
Thanks!
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Comments
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You do need to check all policy wording on whatever you decide.
You may find put the car in his name and you as a second driver on his policy could lower the premium for him.0 -
Unless you transfer to your wife or your son at the very end of the month you will end up making a "donation" to the DVLA of the unused portion of the ved.0
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Unless you transfer to your wife or your son at the very end of the month you will end up making a "donation" to the DVLA of the unused portion of the ved.
That's a very good point. I haven't had to amend a vehicles owner for 15 years or so - how can I ensure transfer day is on the last day of a month, please? Can I send the V5 part in in advance, with a future transfer date on it?
EDIT: I've just found the DVLA page that allow notification online, I'll try and to that on the exact right day.0 -
The V5C is not a title document (it says so clearly on the front), it names the "registered keeper", not the owner. You can give the car to your wife or son any time you want without having to tell the DVLA anything as there is no central registry of car ownership in this country.
You and/or your son may need to tell your insurer(s) though if you give the car away though as they normally ask if the car is owned by you when taking out the policy and it may form part of their assessment of risk.
Other things to note about using the "Driving other cars" provision:
It's third party cover only, damage to the vehicle you are driving is not covered.
Some insurers require that the car has a policy in its own right for another driver (not all though, contrary to oft stated opinion). IF your son has learner only insurance and you're relying on this it might vanish when he passes his test - honestly I have no idea what the specific provisions are on this kind of insurance.
Cars means cars, not vans, minibuses etc. Some vehicles are a bit difficult, when I asked about driving a friend's Bongo, the insurers were vague as they couldn't decide if it was like an overgrown Espace (so a car), or a van with windows or a minibus. We didn't bother in the end.Proud member of the wokerati, though I don't eat tofu.Home is where my books are.Solar PV 5.2kWp system, SE facing, >1% shading, installed March 2019.Mortgage free July 20230 -
A lot of 'learner driver' insurance plans that I've seen work on the provision that the car must be owned and also separately insured by a person who is not the learner (i.e. you).
If this is the case for your son's cover then keeping the car in your name and cancelling your insurance would invalidate his policy - so I would definitely check with his insurers before considering this option.A witty saying proves nothing0 -
A lot of 'learner driver' insurance plans that I've seen work on the provision that the car must be owned and also separately insured by a person who is not the learner (i.e. you).
If this is the case for your son's cover then keeping the car in your name and cancelling your insurance would invalidate his policy - so I would definitely check with his insurers before considering this option.
Good points. I've checked the documents and cannot see any mention the car requiring insured by another person. The policy does cease immediately (if!) he passes his test, though, so I may be safest to go for a multi-car policy. My existing policy expires end of August.
The car, by the way, is 18 years old so has a value very close to zero!
Oh, and that help avoid the tax stopping and restarting and any unwanted donations to the DVLA.0
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