Car insurance before passing test - but own the vehicle

chewie

Hi all - I'm struggling to figure out the best way to handle this problem. 
My daughter will take her driving test in December, and has been on the lookout for a car.....resulting in us buying one this week. The car will be registered in her name and taxed as normal, we now need insurance and it's puzzling us. The intention is for the insurance to be in her name once she passes, with my wife and I as named drivers (we have another car on which she will not be insured). I've tried to find a policy that she can take now in either her name or ours, so that we can practice driving and I'm getting varied quotes back but none are short term - all are a year. 
I've found a policy that is just £384 for the year in her name with my wife and I as named drivers, but clearly her situation will change when she passes her test. I've tried the other way around, with her as a named driver on a policy in my name, and the price is approx £700 for the year - again I would only need for a few months (hopefully!). 
Is it best to take our a policy and then cancel (hoping for a refund) or is there a different approach I should take? I can speak with my insurer on Monday to see if I can add the car to my policy for a short period. 
Not getting much help googling either .

TIA
Chewie

Aretnap

There isn't really much of a market for 3 month policies I'm afraid - it tends to be split between annual policies, and very short term policies (a few days, and not always available to young/learner drivers).

Virtually all annual policies will give a roughly pro-rata refund (less a cancellation fee) if you cancel after a few months - provided you haven't made a claim.

She doesn't necessarily have to cancel when she passes - she can ask her insurer to update her details and recalculate the premium when she has a full licence. Be warned though that (1) her premium will likely rise significantly when she passes and (2) the cheapest insurer for her as a learner won't necessarily be the cheapest for her as a newly qualified driver, so it may well make sense for her to cancel and switch insurer anyway. This applies whether she has her own policy or is an additional driver on yours, so it makes sense to me to take the cheaper option of insuring it in her name.

lesalanos

Most learner driver policies will refund pro rata once your daughter passes her test 

littleboo

About 6 years ago, we were in a similar position with my daughter. We got a policy through Adrian Flux which would continue to cover when she passed her test, which was unusual - most cancel the policy.  This meant she was accruing her 1st years NCB whilst on the provisional. The renewal was very expensive, but we were able to get a more competitive price with the 1 yrs NCB elsewhere

HHarry

My Daughter went with Direct Line in the same circumstances.  They were happy to continue cover after she passed, with no change in premium.
That said it may have been cheaper to take out a policy as a learner and cancel after passing - I can’t remember the exact figures.

Sandtree

I am confused as to what the issue is?

She buys the policy in her name, when she has passed her test she informs her current insurers and they will update their records and as she is now loose on her own her premiums will probably increase. Simultaneously get new business quotes for her as a newly passed driver and compare those to the premiums being charged by her current insurers factoring in any cancellation charges for ending her existing policy, decide to switch or stay. 

If right now there are two with almost identical premiums it may be worth taking the one with the lower cancellation charges.

The advantage naturally is that if she does continue the policy on after passing her test she gets to her 1 year NCD quicker than having a 3 month policy and then starting again at 0.

£384 seems an exceptionally low quote, I would certainly go through and triple check that all the details have been entered correctly before buying assuming your daughter is a teenager/early 20s