named driver vs full insurance

tipdrinker

Just a simple question. which is better in the long run re saving money going down as a named driver under a family member or conventional insurance? I'm currently on a provisional licence, male 28 with the hope of passing my test in a few months :-)

Stheno

Full insurance start building up a proper ncb quicker

cletus

FBD gave me a years no claims bonus for the year I was a named driver on my wifes policy, so it might be worth checking with individual insurance companies and see what they offer

bazz26

In order to build up your No Claims Discount which reduces the cost of your insurance premium, you need a policy of your own. Named driving experience is taken into account alright but nowhere near the same level as having your own policy.

Insurance is expensive for everyone in the begining but it will come down once you stay claim free and build up your No Claims Discount.

oldboy1

Zurich Insurance have a good deal: they want to reward drivers that have been named on their policies so they give a 'like for like' introductory bonus.

This means if you have been a named driver (typically)on your mother/father's policy with Zurich, they will give you a discount as follows:

1 yr as a named driver: 1 yr No Claims Discount
2yrs as a named driver: 2yrs No Claims Discount
3yrs as a named driver: 3yrs No Claims Discount
4yrs as a named driver: 4yrs No Claims Discount
5yrs as a named driver: 5yrs No Claims Discount


Regards

OB

jamescd

Liberty gave me 50% discount for my 5 years named driver experience. So I'm basically getting the same discount as 5 years in my own name, while paying far less premium during those 5 years.

bazz26

jamescd wrote: »

Liberty gave me 50% discount for my 5 years named driver experience. So I'm basically getting the same discount as 5 years in my own name, while paying far less premium during those 5 years.

I doubt that very much otherwise why would anyone bother taking out their own policy with them? They probably offer people with 5 years plus claim free driving on their own policy a 60% or 70% discount.

jamescd

bazz26 wrote: »

I doubt that very much otherwise why would anyone bother taking out their own policy with them? They probably offer people with 5 years plus claim free driving on their own policy a 60% or 70% discount.

Discount I got on my own policy






Discount I would have got if I had 5 years in my own name





Seems the same to me

areyawell

Yea my insurance is up next month. Got a letter saying that my insurance will drop from 880 to 580 as a named driver on my provisional. Other companies were charging me 950. And I'm only 24 now, 23 when started driving

Don't mind what people are saying about building up your no claims discount or whatever. Your 28 so should be feck all to go under the parents name and cost a good bit on your own. When you get your full then maybe consider it. There should be feck all difference then if you want to go under your parents or take out your own insurance because of your age when you get your full

Also most insurance will recognize that you have name drivers expierence and take this account when you eventually get your own insurance. No point paying over the odds now.

never buy insurance online. Ring up the companies for the quote and if you tell them thats too dear and can get it cheaper somewhere else they will ring back with a much cheaper quote.

keithclancy

Just bear in mind that if your a named driver on your mams policy and have a claim, the claim will be against her NCB.

vectra

keithclancy wrote: »

Just bear in mind that if your a named driver on your mams policy and have a claim, the claim will be against her NCB.

Only on that policy so would not affect her own policy.

My son is under my name with liberty for 3 years now and he is getting 30% discount this year so it does add up while you are saving money.

rocky

vectra wrote: »

Only on that policy so would not affect her own policy.

yes it would affect her own policy, under which the named driver is...

vectra

rocky wrote: »

yes it would affect her own policy, under which the named driver is...

Yes,
But as I said, Not her own policy
I have 2 policies.
One for each car, so in the case of something going wrong with policy "B" it will not affect policy "A" which is MY important one.

DylanII

Yes, liberty definitely give you the same discount for named driving as for your own NCB.

Im getting quotes from them now, Im 19 and have my full licence less than a year. 2 Years named driving and they are quoting €1765.54

Then I got a quote for next year. Ill be 20 with a years NCB and a licence for one year and they are quoting €1833.74

19..................................20
2 years named driving ......1 Years No claims bonus
Full licence: 0 years.......... 1 Year
€1765.54......................... €1833.74

Everything has improved, yet the price increases, so they have to be giving an equal discount for Named drivers as for a full NCB

DylanII

vectra wrote: »

Yes,
But as I said, Not her own policy
I have 2 policies.
One for each car, so in the case of something going wrong with policy "B" it will not affect policy "A" which is MY important one.

Yes it will.

You will still have to report a claim against one of your policys to both policys/insurers. This will increase your premium on both of them.

bazz26

jamescd wrote: »

Discount I got on my own policy






Discount I would have got if I had 5 years in my own name





Seems the same to me

That's crazy stuff, why would anyone bother then getting their own policy when they can go down this route? Did you happen to question Liberty on it?

vectra

DylanII wrote: »

Yes it will.

You will still have to report a claim against one of your policys to both policys/insurers. This will increase your premium on both of them.

No it won't because I have full bonus protection on both policies Smartar$e :P:pac:

keithclancy

vectra wrote: »

No it won't because I have full bonus protection on both policies Smartar$e :P:pac:

NCB Protection is only valid with the Insurer you're currently with.

DylanII

vectra wrote: »

No it won't because I have full bonus protection on both policies Smartar$e :P:pac:

You just failed right there. You just called me a smartarse while trying to be one.

You should really go and check your facts before making a fool of yourself.

Regardless of what protection you have your premium WILL increase if you make a claim.

Your insurer will calculate your premium with the increase from the claim and then give you an appropriate discount based on the number of years NCB

vectra

keithclancy wrote: »

NCB Protection is only valid with the Insurer you're currently with.

Yes, I do know that.

DylanII wrote: »

You just failed right there. You just called me a smartarse while trying to be one.

You should really go and check your facts before making a fool of yourself.

Regardless of what protection you have your premium WILL increase if you make a claim.

Your insurer will calculate your premium with the increase from the claim and then give you an appropriate discount based on the number of years NCB

I think you are both missing the point here.

The purpose of the OP's question was to know which was better for Him/Her.
and NOT the owner of the policy.
Again I will repeat myself,

Policy A
my own policy, No Named driver.

Policy b with named driver.

Named driver on Policy B has accident/claim

This in turn only affects that policy and not Policy A which is the one that directly would affect me but will not as I have Full Bonus protection on it.


So now who has made a foll of themselves by trying to be a real smartar$e

In future read between the lines and you might just understand what is being posted.

oldyouth

vectra wrote: »

Yes,
But as I said, Not her own policy
I have 2 policies.
One for each car, so in the case of something going wrong with policy "B" it will not affect policy "A" which is MY important one.

Regardless of who the driver involved in the accident is, the claim is YOURS under YOUR policy, so you have to declare it to all potential insurers for the defined period. It's one of the pitfalls of 'fronting' a policy for another. The driver has the accident but the claim is yours

0ph0rce0

Pretty much every place now gives you the same bonus as a named driver as if you had your own policy.

Guess they want the money.

vectra

oldyouth wrote: »

Regardless of who the driver involved in the accident is, the claim is YOURS under YOUR policy, so you have to declare it to all potential insurers for the defined period. It's one of the pitfalls of 'fronting' a policy for another. The driver has the accident but the claim is yours

Jesus...!!
Some people just Don't get it..

If I have two cars

One car only myself drives

The other is insured by me and has a named driver, That named driver has an accident/claim.. Then YES it will affect THAT policy and not my other one as I have full bonus protection on it.

Then I refuse to insure Car B again for the named driver and let them sort it them self.

Actually would be the same situation of them insuring them selves in the first place only having saved some money over the years.

oldyouth

vectra wrote: »

Jesus...!!
Some people just Don't get it..

If I have two cars

One car only myself drives

The other is insured by me and has a named driver, That named driver has an accident/claim.. Then YES it will affect THAT policy and not my other one as I have full bonus protection on it.

Then I refuse to insure Car B again for the named driver and let them sort it them self.

Actually would be the same situation of them insuring them selves in the first place only having saved some money over the years.

Calm down and read my post. I never said that your 2nd policy would be affected. What I said was that YOU would accrue a claims experience. Where that takes you in the future, I don't give a damn

DylanII

It doesn't matter if you have full NCB protection, your premium will still rise on both cars.

Regardless of who crashes, what protection you have or what policy it is claimed from. As long as a claim is made against one of your policys you MUST report it to all insurers and your premium will rise on all of them.

vectra

DylanII wrote: »

It doesn't matter if you have full NCB protection, your premium will still rise on both cars.

Regardless of who crashes, what protection you have or what policy it is claimed from. As long as a claim is made against one of your policys you MUST report it to all insurers and your premium will rise on all of them.

Show me where you read this?
I asked my insurers and they assured me I am correct in what I am saying.

oldyouth

I don't necessarily agree with Dylan that your 2nd policy will increase but I fully agree with him that it must be disclosed to your insurers. It is your policy, it is your contract with insurers, it is you who is seeking indemnity for an authorised driver agreed by insurers and it forms part of your history.

Your protected NCB should prevent any increase with current insurers but it may hinder you from moving EITHER of your policies at renewal

mickey mac

vectra wrote: »

Show me where you read this?
I asked my insurers and they assured me I am correct in what I am saying.

Was that a verbal assurance or did you get it in writing? My understanding is you must declare any claims against you, on any motor policy you hold, each time you renew.

jamescd

bazz26 wrote: »

Did you happen to question Liberty on it?

Nah I just gratefully accepted it

DylanII

vectra wrote: »

Show me where you read this?
I asked my insurers and they assured me I am correct in what I am saying.

Ring up any insurance company tomorrow and ask them for a quote. Tell them that you have full NCB and no accidents. See what quote they give you.

Then tell them that your named driver crashed your other(with another policy) car last year causing 5k of damage which your insurer paid out, but its okay because you had NCB protection and see if the price increases.

Del2005

vectra wrote: »

Show me where you read this?
I asked my insurers and they assured me I am correct in what I am saying.

When renewing an insurance policy you are asked have you had any claims in the last 3 or 5 years. They don't care about which policy you claimed from. I had a crash on my Mothers policy years ago, we both had to declare it when renewing.

I have car and bike insurance, when I took out the bike insurance my full car NCD didn't count. But if I make a claim on either policy I have to tell the other on renewal. This will affect my risk so the price will go up, then whatever NCD I have will come off.