Insurance astonishment

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  • Insurance astonishment
  • khani
    Member

    If he’s considered a lower risk than you then when he’s using it the risk of it being involved in an accident is lower than when you’re driving it, so over twelve months the overall risk is lower with him added than not,
    The Mrs had this when the boy passed his test, his insurance was lower with his mum as a named driver on his policy than without,

    Premier Icon cp
    Subscriber

    Very common, but I’m amazed they refunded on an existing policy rather than just added at no cost!

    What’s the insurance co?

    Premier Icon dmorts
    Subscriber

    Always used to have my Dad on my insurance as it reduced the cost and he did use it occasionally.

    nealglover
    Member

    How does that work?

    Statistics.

    Premier Icon wynne
    Subscriber

    Doing the 3 peaks tomorrow and thought I’d add my dad to my car insurance so he could be my support.

    He’s 70 and recently passed his institute of advanced motorists test, so I wasn’t expecting it to cost a lot to add him as a named driver. What has amazed me though is by putting him on the my policy I’ve just got a £38 refund from the insurance company. How does that work? My wife and me still represent the same risk.

    Rich_s
    Member

    Statistics.

    poolman
    Member

    When i was added to my dads insurance his went down loads. He has never had a claim, neither have i.

    I think there must also be a stat that shows multiple drivers are safer than one because it works both ways (adding younger people drops the insurance too)
    maybe because if you’re sharing a car you’re less like to crash and incur the wrath of it’s joint owner/user?

    e.g. the STW standard issue RS4 Estate, owned by a single STWer = in a wall on the A68 before you can say Glentress. As a family car = probably more sensible.

    Premier Icon wynne
    Subscriber

    Just so used to money heading out with insurance. Think I will be keeping my dad on for future renewals.

    It’s Hastings Direct. I’ve always found them very good to deal with.

    nickfrog
    Member

    Some insurance companies are eventually accepting that TCF (treating customers fairly) can actually generate long term loyalty.

    I actually invented a named driver for a policy once, Brenda Smith, a retired civil servant with a clean driving record. A lovely lady.

    She saved me so much that I bought her a bottle as a thank you. In her absence (from existence) I drunk it, it’s what she would have wanted.

    Premier Icon colp
    Subscriber

    I use Hastings for my motorbikes, also gave a very good quote for my van.

    thecaptain
    Member

    My FiL added me and my wife to his policy a few years ago. Modest added cost. Then the next year we said don’t bother keeping us on, but it was more expensive to leave us off! So I think we’ve been on it ever since. Do drive him in his car occasionally….

    I actually invented a named driver for a policy once, Brenda Smith, a retired civil servant with a clean driving record. A lovely lady.

    She saved me so much that I bought her a bottle as a thank you. In her absence (from existence) I drunk it, it’s what she would have wanted.

    I might put my Dad on mine then. He never had a claim as far as I know, in over 40 years of driving.

    Would it matter that he’s been dead for 12 years though? (& would be 98)

    Junkyard
    Member

    i always add someone as it always reduces your premium
    I have no idea why

    Would it matter that he’s been dead for 12 years though?

    Unfortunately he would be traceable. Mrs Smith was most definitely not.

    khani
    Member

    Just a note on inventing named drivers, on my last renewal they wanted a code you generate with the licence number to check for any points/convictions on named persons driving licence,
    You have to go on the dvla website, enter the name and licence number and get the code and then pass the code onto your insurance company, maybe they’ve cottoned on…
    If they don’t ask for it when you take out the policy they will if you’re involved in an accident.

    Premier Icon wynne
    Subscriber

    If you know how to work the system there must be so many opportunities to save money legally in all aspects of life. Time to start the STW great money saving thread.

    For a modest £5 fee I am happy to offer my dad’s details to all interested parties. He’s particularly keen to be named on any vintage maseratis. Though he’s just gone up on the shed roof in the dark to mend some felt so he may not be around for long.

    Premier Icon somafunk
    Subscriber

    When a mate decided he was selling his 2007 RS4 B7 with full factory fitted ABT performance pack, only 5500 miles on the clock i got a quote for insurance (purely for shits n’ giggles, zero chance of me ever owning a fraction of it’s value) and i could insure it fully comprehensive for £794 😯 , if i added my father as a named driver (he’s 68) it dropped to £675 😯 😯 , despite me wailing and throwing a tantrum he wouldn’t give me £40,000 to buy it and then give me another £5000 a year to run it – bloody selfish parents.

    Ever since then i’ve always added my father to my vehicles, current insurance for my 3yr old vw caddy highline is £134/year so i guess i should be happy with what i’ve got

    nealglover
    Member

    I always put my mum and dad on mine (makes it cheaper) as they both drive it occasionally.

    It also got cheaper when I became a dad, and previously when I added mrsG (although she’s never driven mine, it seems to make sense that she could if required)

    Other things that have made it cheaper in the past have been…
    Not living alone.
    Not working in the building trade anymore.
    Parking on the street rather than on a private drive, at the same address (I can’t understand that one)

    Premier Icon TheGingerOne
    Subscriber

    Always used to have my mother on the insurance, then replaced her with the other half. 🙂

    spooky_b329
    Member

    We had cheaper quotes for parking on the road versus on the drive. Suspect it’s because a lot of the drives are very steep, but the road is fairly level. Result – more claims from cars rolling off people’s driveways?

    myti
    Member

    I was very surprised when at renewal time my current insurers managed to match the price I got elsewhere coming down by £170. This hasn’t happened in 10 years!

    My 15 year old Jag with 240bhp is cheaper to insure than my previous 20 year old 90bhp Golf..

    If they don’t ask for it when you take out the policy they will if you’re involved in an accident.

    Hmm, I shouldn’t be surprised really, thanks for the heads up.

    csb
    Member

    Direct line dropped our renewal quote by 20 % without hesitation just to keep us this year. Usually fart around with excesses and excuses.

    Isn’t the reason they like street parking because nicking cars to order is harder, as the thieves don’t know where to steal the keys?

    nealglover
    Member

    Isn’t the reason they like street parking because nicking cars to order is harder, as the thieves don’t know where to steal the keys?

    Could well be, among other things.
    In my case though, it was parked across the end of my drive every night, to block in the work van. So was pretty obvious which house it belonged to 🙂

    Premier Icon Potdog
    Subscriber

    Been through the insurance quote brain busting this year trying to get a reasonable quote for her first car. It turned out to be even more expensive if she parked in the locked garage overnight! Yet to work out the logic there.

    nealglover
    Member

    It turned out to be even more expensive if she parked in the locked garage overnight! Yet to work out the logic there.

    New driver getting a car in and out of a tight garage every day, highly likely to get damage claims from that.

    jonnyboi
    Member

    It’s very difficult for drivers to get rental car insurance over 75, so if you are adding a named driver of that age and above the pot luck insurance algorithm may actually increase your premium

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