Car insurance for teenager recently passed test?

chalkybar

My son has recently passed his driving test, yay!
last year we bought an old, 30yr old (near classic) mini which he has been gradually tidying up and it will be eventually be his.
The car is owned by me still, in my name, and I have my own drivers policy on it during his learner sessions etc.
my question is, if anyone can advise, how would it be best to arrange his new drivers insurance. I’ve heard it could make a big difference if I’m still the main owner and policy owner of if he’s made the owner with his own insurance......or whether I’m named on his, etc ,etc?
i would much rather him start to build up his own no claims (hopefully) as opposed to just going for the cheapest. He will ultimately be the owner, in time, but just looking for the best option whilst it’s still early days.
thanking all in advance

csgohan4

consider a car insurance broker as he is newly qualified

giraffe69

If he is the main driver and you are named as this then that is called "fronting" and if discovered may invalidate the policy.
Insurance which uses a black box may be worth considering.

RBN20

If you want him to start gaining his no claims (sensible idea in the long run), then get him his own policy with him as the main driver, adding yourself as a named driver may bring the premium down a bit. 

It will cost more initially this way than you being the policy holder, but at least you are being 100% honest with the insurer and in the long run it will work out cheaper as he will be gaining no claims discount. 

Congratulations to him 

chalkybar

Thanks for all the help.....yes we want to do it all properly....

but does anyone know if it makes any difference whether the car is registered in his name, or left as mine?

Carrot007

chalkybar said:

Thanks for all the help.....yes we want to do it all properly....

but does anyone know if it makes any difference whether the car is registered in his name, or left as mine?

Some care some don't. It's more important who is the owner rather that the registered keeper as you really can only insure your assets (unless going third party only).

chalkybar

Currently It’s owned by me and I’m the registered keeper.

Sandtree

Some insurers will care significantly, as its close family, others won't be too bothered.

Given the age of the vehicle, some blackbox solutions won't work... when doing some random quotes the other day I had more than one blackbox company come back saying their tech wasnt compatible with a 1998 Citroen.

The key to doing the right thing is declaring what the truth is... it is assumed that the policyholder is going to be the main driver of a vehicle but many parents either arent aware of this or are comfortable fronting and putting the insurance in their name to get lower premiums. Few online buying systems enable you to nominate a named driver as the main driver but more contact centres can do this. As others have said though, it then delays them starting to build up their own NCD.. plus you can only use your NCD on one policy so unless you've had two cars for some time the premium will still be inflated.

chalkybar

We’re really interested in biting the bullet and getting him started on his own policy, pending the costs aren’t too ridiculous.
we use a broker for the company I work for, so I might call in a favour and just run the scenarios past them......

Sandtree

chalkybar said:

We use a broker for the company I work for, so I might call in a favour and just run the scenarios past them......

Certainly no harm in asking but not all brokers are equally good at all classes of insurance, young driver insurance is typically just one of those things where you need to hit the aggregators, the insurers that dont play on the aggregators and try a few brokers. I am not sure than many of the black box types are being sold via brokers (but could be wrong)