Car Insurance

[divein]

19 year old son wants a car - insurance on a new motor costing around £6,500 is £2,500 plus. Dealers are tying one years insurance with finance packages so he ends up paying over the odds and still has years 2 and 3 of finance agreement to find insurance. Solution (maybe) - he buys a car and is the registered keeper but I insure it in my name with him as a named driver. What are the pitfalls apart from him not building up a no claims bonus? Thoughts and opinions welcome. Thanks.

[beanie]

buy a car for £1000 and have third party fire and theft saves loads
and get a car which is cheap to insure

[aclivity]

Originally Posted by divein

19 year old son wants a car - insurance on a new motor costing around £6,500 is £2,500 plus. Dealers are tying one years insurance with finance packages so he ends up paying over the odds and still has years 2 and 3 of finance agreement to find insurance. Solution (maybe) - he buys a car and is the registered keeper but I insure it in my name with him as a named driver. What are the pitfalls apart from him not building up a no claims bonus? Thoughts and opinions welcome. Thanks.

registered keeper and insured have to tbe same, I thought? Also you would not be able to put any of your no claims against this insurance - it may cost you a lot as well.

What about a new car that comes with 1 year's free insurance? I think the 206 has deals like this (although may be aimed at 20 yr olds+)

Alternatively, at 19 I was driving an 850cc mini. Third party fire & theft only. So I was careful not to crash.

[andy_chesney]

I had a 1ltr fiesta which I insured third party fire and theft only cost about 3 hundred pounds to buy but still got me from A-B which is what its all about isn't it. I then got rid of it with it owing me nothing and brought the car I have now and have had for the last three yrs, this was less than a grand and insure third party, fire & theft. The first year was in my dads name but since then I have had it in my own name.

If you get on the internet then you will get some decent quotes, I'm with insureyourmotor and they where by far the cheapest. All in all cheap motoring means I can have more dive trips.

Just another option

[nigelH]

Originally Posted by andy_chesney

I had a 1ltr fiesta which I insured third party fire and theft only cost about 3 hundred pounds to buy but still got me from A-B which is what its all about isn't it. I then got rid of it with it owing me nothing and brought the car I have now and have had for the last three yrs, this was less than a grand and insure third party, fire & theft. The first year was in my dads name but since then I have had it in my own name.

*EXCRETIVE DELETED*

I hadn't realised insurance was that expensive for you kiddies.
I will not complain at my 600quid fully comp again. (1 year NCB)

That's on a 4.6L V8.

[Mark Davies]

Generally the car will need to be registered to the insured driver.

There really isn't a way around the age problem these days. The suggestions above seem the right way to go. Get a fairly cheap car and insure third party. Get him started on building an insurance history and no-claim bonus. The sooner he does the better.

I've got some young colleagues who, at 20 years of age, are frankly earning a decent wage for their age when joining the cops. Many of them are tempted to splash out on a decent car, but they're getting hammered for insurance, even with the additional training and the discounts that come with it. You just can't afford to be that ambitious so early on in your driving career!

Putting him down as a named driver is only going to save money in the short term. At 25 years of age that 65% no claims discount is still probably going to be worth £1k or more each year.

Get a shed.

[MATTBIN]

I have my son on my policy which doesnt have a NCB as its on one of the other cars, car registered in his name, not a problem with Tesco. It cost a lot less than insuring in his name alone (or even with me added) 1 yr on he has not had a crunch but the NCB is in my name, they wont transfer it. He now has pass-plus which gives him a BIG discount. So that may be a good way forward, its likely that yr 1 may see your boy have a slight crunch, most of my boy's mates have and my daughter had one three weeks after passing her test, so its not exactly unknown, so he may not get any NCB anyway and you'll pay a fortune in his name in yr 1. The quote this yr for my boy with no NCB but pass-plus works out the same as what we paid last yr i.e £1400 TPFT for a Fiesta 1.3 rural area.

Tesco seem very good, Admiral OK. But Mark suggested a while back some insurers are better for certain cars and/or girls/boys etc, shop around obviously. Admiral do a 10 month bonus accelerator too. Insure for 10 months get 1 yrs NCB (hopefully)

HTH
Matt

[Foggy]

If he can afford that........ then buy it & insure in your name.

Also buy banger from car auction for say £50 ...... a 2am special, register it and insure it in his name, keep it off road........ after a couple of years scrap it, it will have paid dividends in insurance saving as ncd is now transferrable to better car!

Robert's your mother's brother

Cheers, Paul

[Helen F H]

I am insured through Norwich union - they were by far the cheapest of all the insurers. £400 quid a year, fully comp (which was cheaper than 3rd party, fire and theft!!!) and i get a car if i break mine. Im on a provisional liscence with a cheapo corsa (complete with go faster dent).

H

[littleH]

I've just had a nightmare finding new insurance. Was with Churchill which had always been the cheapest. but then new car 1.9l BM and hubbys 6 points and my unresolved smash 2 years ago sent the insurance into the thousands. Spent a day on tinternet got a whole load of quotes from 1.5k down to 500 quid so i'm with esure now (yeah ok no oldie jokes thanks).

I'd definatly recommend that you go online to get yuor quote tho as every one i tried gave an online discount then if you get stuck you can call them up and still get the online rate. (i did it)

FYI the registered owner has to be the main insured person. You could also try adding a few adults to the insurance and say that one of them is the main driver. or that he's only going to do about 8k miles per year. Looking back when i was at uni i insured my first car to 10k miles a year and in reality i only did about 3k pootling about leeds and the odd trip to the scottish coast!!

HTH

H