Car Insurance Renew or New Policy?

Fenrron

I hope that somebody can help explain how the following is correct?
The following is the same for all the quotes - ie car, drivers, address.

1 - Renewal of current car insurance £750.00 with 48 year old with 11 NCB, 20 year old as named main drive.
2 - New cheapest quote via various comparison websites with 48 year old with 11 NCB, 20 year old as named main drive. £500.00
3. - New policy Zero NCB with 20 year old as policy holder/main driver, 48 year old named drive. £380.00.

Why have NCB record if the insurance companies do not wish to honour them?

paddyandstumpy

It seems strange that the price in the 20 y/o name is virtually 1/2 the price of your renewal. Are there claims/convictions on the renewal not on the NB quotes?

Fenrron

No claims/convictions, I have tried this with several comparison websites to check and although the prices are different the result is the same. ie cheaper to start a new policy.

paddyandstumpy

That's not a surprise, the industry is based on dual pricing (discounting new business and loading renewals).

What is a surprise is the quote based on the older driver as PH with the bonus is dearer than the younger driver as the PH.

Same insurer for all these quotes? Or are the prices just top of screen?

Fenrron

Prices for 2 & 3 are the same insurance company.

paddyandstumpy

Ah ok, that makes sense as they are more comparative.

What I would say (as an educated guess without knowing the insurer or their ins and outs) is the insurer is considering the 20y/o as the highest risk, given the age and use of the car.

As quote 2 is in the older name with NCD looks like a parent insuring a car for their child (albeit correctly disclosing use), the insurer is upping the rate to try and not write it.
Whereas risk 3 seems 'correctly proposed' to the insurer, so is cheaper.

The benefit of price 3 (apart from being the lowest) is the 20 y/o will build their own NCD.