Car insurance

tulip12

My son is nearly 22 and about to purchase his first car. We know the insurance is going to sting but just wondered if anyone knows of the cheapest way to go about this. I already run my own car, would it be a good idea to register the new car in my name also with my son as an additional driver. Thank in advance

vikingaero

As long as you declare him as the main driver then that is fine.

Waits for the fronting brigade to show up...

tulip12

Thanks very much for your reply. I am a newbie to this.
Fronting brigade?

Hammyman

tulip12 wrote: »

Thanks very much for your reply. I am a newbie to this.
Fronting brigade?

Fronting is where you get a person, such as a parent, to insure the car in their name with the higher insurance risk driver being the named in order to get the policy down, even though the higher risk driver is the main driver. It is fraudulent and illegal.

Looking through the forum, there's a lot of people who get on their moral high horse when there's a whiff of this.

property.advert

I'm in my 40s and whether I buy a Mercedes or a Fiesta, the insurance is largely the same price. However, if I register the car in one place or another can make it 300% more expensive, on any car. For a young lad, the car is really important in calculating the insurance price but don't forget the other things you can do to make it as cheap as possible.

Your own insurer may give a discount as a second car at the same house (not connected policies as that will screw you up when he moves out). Look at garaging the car, if possible. Obviously the lower the insurance group the better. Also, some cars are youth "unfashionable" and cheaper to insure compared to more sporty cars.

If he is going to have his insurance then really it would be best in his name but that will most likely cost more. The good news is that it won't be nearly as expensive as it would for a 17/18 year old but it will still hurt.

Finally, don't believe all the online comparison sites. Some are blatantly telling lies. I have found various providers cheaper direct. Also, to some degree, you do get what you pay for. Get the cheapest quote from Admiral or someone and be prepared to request and go through the policy wording well before purchase. Most people cannot be bothered to do that and only find out problems when it comes to claim time. You really do have to shop around.

Obviously, when you've done all the looking around, using a cashback site such as http://www.topcashback.co.uk/ can give you a little help in return.

melorablack

Looking at quotes, my dh who is 21 has found that his insurance is much cheaper with my mum as a named driver.

He is the main driver of the car and it is his policy so although it's not as cheap as if he was a named driver on her policy, it's legal

KillerWatt

Ignoring the legal technicality of who the main driver would actually be, your son won't be earning any no claims bonus if he is a named/secondary driver.

Shoshannah

As property.advert says, go for a really random and possibly 'uncool' car to help bring the premium down. An old Cavalier or Vectra may well work out cheaper than the usual Corsa, Fiesta, Saxo, 106 etc which are commonly driven by young people.

warez22

I work as an Insurance Advisor and this is an age old problem.

It is best in the long run to have the vehicle in your son's name. A motor insurance policy is rated on the youngest driver anyway so if the policy was in your name and you stated your son was the main user, there would be very little in it. With the added bonus in his name of accruing no claims bonus.

So, hopefully, after a claim free first year, you could expect to see a 30% reduction in the premium next year (not including any market increase, currently at about 10%).

Also with regard to picking a vehicle think small engine and also think of the price of parts. The more expensive the parts, the more expensive the insurance. So a Ford is going to cheaper than say a Subaru.

Also, garage the vehicle, maybe consider limiting the mileage and also increasing the excess. You need to be careful with the excess though because you might find that there is a higher excess if your son is driving anyway.

Aviva Insurance are currently very keen at the moment on young drivers, especially if you agree to a credit check (I know, but it does make a difference to the premium!)

Hope that helps:)

tulip12

Thank you for all your helpful replies,
We have found Admiral to be one of the cheapest quotes, does anyone have any experience with this company.

gordikin

Tulip12 I'd post your query over in the Insurance Board for a wider/fuller answer.