Named Main Driver Help Please

sheracer

ok so done the quote again, me as the policy holder, him as the keeper and main driver but me as 0 NCB - it came back at £2897 Ahhh! - so my NCB made the difference, it is actually cheaper if he is the policy holder despite only passing his car test 2 months ago and i have been driving for 10 years.

speaking with him, we dont think we can afford it, is it ok (i know it may be naughty) to insure the car, take it for an mot, and maybe get tax on the car to sell and cancell the insurance with the 14 days cooling off period, i think we simply can not afford it so i guess he is going to have to be very very careful in the winter on his bike. will i loose any of the money i pay for insurance and would it be better to go for annual payment on credit card then cancel once mot is on car (need insurance to drive it down the road to the testing station) or would it be better to opt for monthly payments and cancel will i loose the deposit (which is about £500)

sheracer

oh and the car is only worth about £1000 but he will get next to nothing without an mot at least when selling

Quentin

You can cancel during the cooling off period (provided you haven't claimed). You usually have to pay an admin fee plus pro rata premium for the number of days you have had on cover.

sheracer

any ideas on how much this would be, cheapest i can seem to get the insurance (all in his name) is about £1200 - its gone up again! if it is a couple of hundred pounds it aint worth it, and he will have to sell for a couple of hundred pounds with no mot or tax, but if it is relativly low it will be worth it as he could get about £1000 for his car so the difference wont be as much (between the cancellation costs and sale price with mot and tax)

thank you so much for all your help, i am clueless with insurance etc x x x

Jenny007

If you literally only want insurance to take it for an MOT, try short term insurance. Yeah it is expensive per day but then there is no worries about cancelling during the cooling off period and losing deposits etc.

rs65

Have you tried speaking to your current insurers to see if they will insure it in your name? They may give you an introductory bonus on a second car.

If not, some insurers will give NCD to a named driver, but he would have to be named on your policy for a year for this.