Does change of ownership affect premium?
22 February 2012, 03:59 PM
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Does change of ownership affect premium?
Looks like I am going to have to get a cheap commuter car for my 25 year old daughter.
My plan is to buy it in my name but get her insured as main driver with car being based at her flat address away from home.
I got a quote for £498 which would include business use which i thought was pretty good. But if I made her the owner instead of me would I still get the same quote? I would have asked the insurance company but I was not speaking to the brightest person on the planet and I thought someone here would know.
Cheers, David
My plan is to buy it in my name but get her insured as main driver with car being based at her flat address away from home.
I got a quote for £498 which would include business use which i thought was pretty good. But if I made her the owner instead of me would I still get the same quote? I would have asked the insurance company but I was not speaking to the brightest person on the planet and I thought someone here would know.
Cheers, David
dl
23 February 2012, 09:31 PM
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23 February 2012, 09:37 PM
#6
Doesn't really matter who actually owns it..........I thought it went off who was on the V5 as the keeper ?
Presumably it will be her name on the paperework ?
Shaun
Presumably it will be her name on the paperework ?
Shaun
23 February 2012, 10:13 PM
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I found out from insurance company that if I keep ownership then my 9 year no claims carries over to the new premium and cover can be changed to her as main driver. If she owned the car then she would start off with no no claims, a much higher premium.
Got the new premium at £322 for fully comp protected. I also bought a small run around today to replace it for meme sahib and myself to use with premium at £138 which I was really pleased with. A black art dealing with car insurance though!
david
Last edited by David Lock; 23 February 2012 at 10:16 PM.
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24 February 2012, 03:58 PM
#8
Yep David......a real insurance minefield.
Been looking at cars / insurance for my lad when he decides to take the plunge.
Buying a cheap car = huge insurance as the insurance company thinks you are going to trash it.
Optimum seems to be a car costing about £6-7 K when it's good enough not to be thrashed around but not soo expensive it costs a lot to buy / insure.
Happy days.................
Shaun
Been looking at cars / insurance for my lad when he decides to take the plunge.
Buying a cheap car = huge insurance as the insurance company thinks you are going to trash it.
Optimum seems to be a car costing about £6-7 K when it's good enough not to be thrashed around but not soo expensive it costs a lot to buy / insure.
Happy days.................
Shaun
24 February 2012, 04:38 PM
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Yep David......a real insurance minefield.
Been looking at cars / insurance for my lad when he decides to take the plunge.
Buying a cheap car = huge insurance as the insurance company thinks you are going to trash it.
Optimum seems to be a car costing about £6-7 K when it's good enough not to be thrashed around but not soo expensive it costs a lot to buy / insure.
Happy days.................
Shaun
Been looking at cars / insurance for my lad when he decides to take the plunge.
Buying a cheap car = huge insurance as the insurance company thinks you are going to trash it.
Optimum seems to be a car costing about £6-7 K when it's good enough not to be thrashed around but not soo expensive it costs a lot to buy / insure.
Happy days.................
Shaun
With insurance such a nightmare for young 'uns I really think the trick is to do what I have done and keep it in your name but be open and say junior will be main driver and car will be living at his address (if he has left home). That way you get to keep any no claims and you have been straight with insurance company. When he is older (about 50!) he can get a car in his own name and his start-up premium will be lower because of his age. Bugger this £1500 premium nonsense
david
david
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