Looking to share a car with my son..?
my son's looking for a car, but the insurance is going to kill him (he got quoted between £2800 and £6400 for third party fire and theft on a group one insurance car!
I was thinking of buying a corsa / c2, a second car, in my name and adding him as a second driver, then basically giving him the car for his 18th but staying on the insurance policy to keep the price down - is this financially a better idea? (i don't want any daft answers about letting him in the car not being a good idea, thank you)
Also, does anyone already do this with their child, and do they know of a good (cheap) insurance company for this, preferably that lets both of us build up our own no claims bonus?
Answers:
Hi. This may help your son for the future:
If you plan to do this then make sure you keep the proof of him being a named driver over the next few years. I have been under my Ma's insurance for the last 8 years but when I finally got my own this week some insurance companies were quoting me over £1000. If I had proof of over 5 years no claims (which I don't and couldnt be bothered hunting down) then I could have got it for less than £500.
Needless to say I did get it for less than £500 without proof through elephant.co.uk for 10 month bonus accelerator and Third Party Fire and Theft Social and Commuting. I done this by adding my Ma as a named driver. brought it down by a few hundred (couldn't quite believe this helped). Your son should also try this method. but being 17yo I doubt it will make much of a difference. BTW. £6400 for a year is complete robbery.
Get him on your insurance for a few years at least and keep the proof. it'll be worth it when he gets his own insurance.
BTW.. my motor is a 96 Nissan Primera 1.6 sri and I'm 26yo.
Hope this helps.
Try Admiral Multicar, you can insure both of your cars on one policy and all the drivers will earn their own No Claims Bonus. This will help keep the cost down as you can only use your current No Claims Bonus on one policy, so if you take out two policies for your two cars in your name one will not be able to use your No Claims.
You could also try Confused.com, or moneysupermarket.com
Hope this helps.
The best way to do it is for you to be the main driver and your son as a named. You can use any no claims you have to make it cheaper. It is best though for you to be the registered keeper of the car as it looks like you are the main driver (just to stop the insurers getting out of paying up). I do this on a 1.3 fiesta with tesco and its about £600. Hope this helps.
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