Getting a second car

maggie111

We're considering buying a second car and my Dad reminded me we can't use our no-claims for our second car - whoops!! I was just wondering what would work out cheaper.

Current car in my name. 5 years no claims. No job, full time house wife, 1 baby.

Husband named driver for 5 years. Full time job in computing.

Neither of us have any convictions.

Should I put the second car in his name or put it in mine?

Current car use is for SDP+business, very few miles but my husband might need to claim back occasionally. I think the new car will be used for commuting and not the old one, should I downgrade my old policy?

Any advice on how to make it the cheapest possible will be really appreciated

Sonofa

If you are saying that the new car will be mostly for commuting, then I assume you mean by your husband, therefore, the car should be insured in his name.

I doubt that you would save much/anything by dropping the business off your policy, and you may want to keep it just in case.

If he isn't generating his own NCB if he is only on your policy as a named driver, it would be to his advantage to be in his name too.

Multi-car policy perhaps? Don't know how they work, but worth a look.

GlynD

Been there. The answer is quite simple. Each of you insure a car in your own name claiming your full no claims bonus entitlement and make each other the named driver on your policy.

System

Some companies give NCD to a named driver.
Privilege gave a full NCD to my wife when we bought a second car and she insured it as the policyholder.

The policyholder does not have to be the main driver. The policyholder does not even have to be a driver at all.

Quentin

Sonofa wrote: »

If you are saying that the new car will be mostly for commuting, then I assume you mean by your husband, therefore, the car should be insured in his name........

Not so. Ignore this.

But if you cannot get any deal with your own insurer (either to add the car on at a discount or to give your husband their ncd as a previous named driver), then it probably will be cheaper in the long run for him to build up his own ncd by buying policies in his name, even if the premium is slightly higher for him with nil ncd rather than you with nil ncd.

maggie111

Thanks everyone!

cazwasere

I've just taken out a multi-car insurance - worked out much cheaper than me and the other half having separate policies - and I think that by naming us each as major driver on different cars, means that we both continue to earn NCB as I had a choice of choosing which driver was earning the NCB on which car. Aviva and Admiral quotes were far more competitive than I was expecting for our circumstances. Went with Aviva in the end as they had a quidco offer to.

forgotmyname

cazwasere wrote: »

I've just taken out a multi-car insurance - worked out much cheaper than me and the other half having separate policies

WOW.. Is this a 1st? :rotfl:

You must fit their good risk profile to a T.

SuperHan

forgotmyname wrote: »

WOW.. Is this a 1st? :rotfl:

You must fit their good risk profile to a T.

I took out a multi car and it was phenomenally cheaper than us having individual policies.

In fact, it's with Admiral, and my sole one car renewal quote was 50% higher (and in line with all other quotes I'd received) than the total cost of the new multicar policy.

I'm a huge advocate for multi car policies!