YOUNG DRIVER INSURANCE DILEMMA

Car_54

Spogerdi said:

Thanks everyone for you input.  I have asked the questions this morning and can confirm Marmalade and Ticker can insure my daughter with her own policy on my car and me as named driver both with black box technology, neither of them affect my own insurance policy.  Quotes are between £1,300 and £1,500.

How does that compare to the cost of adding her as a named driver on your policy?

As above, don't get hung up on the perceived (and possibly illusory) benefits of her building her own NCD. 

born_again

Spogerdi said:

Thanks everyone for you input.  I have asked the questions this morning and can confirm Marmalade and Ticker can insure my daughter with her own policy on my car and me as named driver both with black box technology, neither of them affect my own insurance policy.  Quotes are between £1,300 and £1,500.

So how is the black box going to work when you are driving on your own policy?

HillStreetBlues

Car_54 said:

Spogerdi said:

Thanks everyone for you input.  I have asked the questions this morning and can confirm Marmalade and Ticker can insure my daughter with her own policy on my car and me as named driver both with black box technology, neither of them affect my own insurance policy.  Quotes are between £1,300 and £1,500.

How does that compare to the cost of adding her as a named driver on your policy?

As above, don't get hung up on the perceived (and possibly illusory) benefits of her building her own NCD. 

This is what I'm failing to understand.

Spending £1500  just to get NCB.
Put the money saved away from just adding her as second driver.

When she does need her own insurance she will be older, and insurance less based on age.

Aretnap

Indeed. And the follow up question is how much does she expect a year's NCD on next year's hypothetical premium (assuming she wants to buy a car at that point, assuming she doesn't need to make any claims etc etc) will save her? I'm willing to bet that it will be not even close to £1500.

NCD didn't save you as much as some people seem to think. Here for example are Admiral's figures on the average discount they apply for a given amount of NCD.


If your daughter is getting high insurance quotes, it's because she is young and has only just passed her test - not because she has no NCD. Those problems will resolve themselves with time, with or without NCD.

In purely financial terms the best thing that she can do at this point by a country mile is to put her driving licence in the back of a drawer and forget that it exists for a year or two. Then buy a car, insure it and start building up her NCD when she can say that she is a couple of years older and has held her licence for a couple of years and she will have missed the worst couple of years for insurance premiums entirely. Though obviously that has to be weighed against the advantages of being able to drive in the next year or two.

The second best thing is likely to be to save as much money on this year's premium as possible, probably by the OP adding her as a named driver to his own insurance, and worry about what happens when she needs to insure a car if her own when she actually crosses that bridge.

JGB1955

So, you're spending £1500 (?) for your daughter to drive (less than1,000 miles? ) in your car.  In return she MAY get a £300? NCD on a car a year later.  That works out at £1.20 a mile. Probably cheaper to get a taxi.

jimjames

Spogerdi said:

Thanks everyone for you input.  I have asked the questions this morning and can confirm Marmalade and Ticker can insure my daughter with her own policy on my car and me as named driver both with black box technology, neither of them affect my own insurance policy.  Quotes are between £1,300 and £1,500.

Black boxes in the main do not distinguish between who is driving so you'll be liable for any journeys you do in your car against her policy. I'd never have a black box on my car for that reason. Seems like a bad idea, for such little mileage why not just insure the days she wants to use it.

Brie said:

And as I understand it if there are 2 policies and a claim is made you lose both deductibles. 

Only if both policies cover the same risks. If my kid insures my car for them to drive and has an accident then my policy will not be affected. If they're on both policies then yes it would

GrumpyDil

I have found one policy which comes with a tracker but is only used by the named driver who has to install an app onto their PHONE. In fact they are quite clear that if a named driver is driving they do not need to log into the app. 

mgfvvc

Grey_Critic said:

You can only claim on ONE policy

While this is true, it is potentially misleading. It may be seen to imply that only one policy will have a claim registered against it. In the event that the insurer you claim from is aware of the other policy, it may split the claim with the other insurer, so both insurers pay half the claim. I think they will check, but I don't know for sure.

You probably will not get to claim on one policy and keep the NCD on the other.