Car Insurance - to cover various scenario's (including learners)

Harvey07

We are about to buy an older car to teach our twins to drive in (in addition to proper instructor lessons). 

Initially it will just be my wife & I that are insured to drive it and it'll be registered in my name. Once the kids are 17 (~3 months), I'll be looking to add them to the insurance & then when one of them passes, I'll either need to take another hit on the insurance, or potentially they may get their own car.

We both have other cars that we intend to keep, at least initially, so our NCBs are tied into them. We'll occasionally use the older car as a run around & I'll be the main driver, certainly until one of them passes.

Does anyone have any tips as regards who is best to go with it terms of not getting hit with fees every time we make a change, or a big increase when I add them as learners and / or on passing etc.

I'm trying to run quotes to cover all scenario's but it's a bit tricky when they aren't 17 yet, will be on provisional licences initially etc.

I am aware of the likes of Veygo, Marmalade etc, but I've read so many different views, it feels like a total minefield.

Thanks in advance.

daveyjp

From our experience adding learners to an existing policy can be extortionate.  Marmalade was far cheaper. 

After passing the cost of cover for a 17 year old remained extortionate.  A year as a named driver and reaching 18 resulted in a huge reduction in premium.

Mark_d

I think you'd be best off going  via a broker.   

GrumpyDil

I insure my son as a learner on a standalone policy which is far cheaper than any other options I found.

WellKnownSid

+1 for the standalone policy.  Worked well for two of our children.

Car_54

daveyjp said:

From our experience adding learners to an existing policy can be extortionate.  Marmalade was far cheaper. 

After passing the cost of cover for a 17 year old remained extortionate.  A year as a named driver and reaching 18 resulted in a huge reduction in premium.

I now have no interest in any insurance company, but I’d contest the word “extortionate “. 

Premiums generally simply reflect the risk. No one is making vast (if any) profits from motor insurance.

MyRealNameToo

Car_54 said:
Premiums generally simply reflect the risk. No one is making vast (if any) profits from motor insurance.

Motor insurance is generally a numbers game. Margin is tiny, and many have been making losses in recent years on an underwriting basis, but there is very high volume so that thin margin can make significant profits for the biggest players who are getting their underwriting right. 

Admiral achieved a 82% operating ratio compared to the industry average of 102% making £955m profit on UK Motor, though the changes in ogden discount rates made a notable contribution last year. 

Maybe it will be like Direct Line a few years ago where its subsequently found there's been an error in the financial calculations and numbers have to be restated much worse than originally announced but for now I'd say they are fairly close to making vast profits (but are one of the exceptions)

mgfvvc

A Marmalade learner policy worked well for us. When our daughter passed her test LV told us they wouldn't insure her until she'd been driving for a year, so we got another Marmalade add on policy, which was around £1500 with a black box. After a year LV told us "Computer says no".  Various Admiral brands would insure us, with her as a named driver for around £500, so we cancelled the LV Policy and moved to Ford Insure.

One thing to note was that when she was away at uni Marmalade gave a weeks notice to cancel because the black box wasn't sending any data. While it was relatively easily sorted, it created unnecessary stress and was extremely poor customer service. 

Arunmor

Look at what Collingwood has to offer. I imagine twins will require a phone call.  They also sort out additional drivers ie you and your wife.

https://www.collingwood.co.uk/learner-driver-insurance/