Mazda MX-5 Miata banner

1 - 8 of 8 Posts

·
Registered
Joined
·
1,179 Posts
Discussion Starter · #1 ·
Okay. Picture the scenario.
Three Cars owned by 43 year old married couple (wife is a day older)
Mk3 Cav 1.8 Group 8 Value ?600 Full no claims in Wife's name
Mk3 Astra 1.6 Group 8 Value ?600 Full no claims (one sp30 17/4/07)
Mk1 Mx5 1.6 Value ?2000 +? 0.5 years no claims on a classic agreed value policy.

So we have a son who is 17 in June. I want to put him on one of the policies as a named driver, so a couple of months ago I did a FEW quotes on confused which came out ?800 to have him on the Cav and ?1700 to have him on the astra. _ I had to put the wrong date of birth in, to get a quote.
My insurance on the astra is due soon, so I thought I'd swap the wife's policy to the astra and change mine to the cav and get him added now to satrt in June.

Not possible on 2 counts.

1) The 'great' quote is expired and ?1400 is now the price
2) Nobody will agree to add him as a named driver until he's 17, which means you have to take out insurance now and risk them deciding to charge you 3 times what they said.

So I'd also looked at prices if I swapped my astra for a corsa, mini (old one), or micra. Which Was ?500 to ?600. Put the same cars in today and ?1700 to ?2000 is the going rate.

Has Insurance suddenly gone up ?

What next ?
 

·
Registered
Joined
·
2,050 Posts
Yes the rates have gone up over the last 12 months. Insurers loss ratios are finally getting better so prices may be dropping slightly soon.

Just be careful that you do not set up a fronted policy. I.e whoever owns the car must be the policyholder of the insurance. Insurers normally ask how many cars there are in the household, as if you say three, which you have to do the insurers will assume that you drive one, your wife drives the 2nd and your son on the last and therefore won't insure him as they will see it as fronted to bring the price down.

All insurers are different but be careful with putting a young driver on your policy that will be the main user.

Daz

insurancefactory.com
 

·
Waiting For The Summer
Joined
·
2,445 Posts
You'll probably find it's cheaper while he has a provisional licence, due to the fact that he will always be supervised. Once he has a full licence, it'll go up cos he can go out on his own
 

·
Registered
Joined
·
1,179 Posts
Discussion Starter · #4 ·
Yes the rates have gone up over the last 12 months. Insurers loss ratios are finally getting better so prices may be dropping slightly soon.

Just be careful that you do not set up a fronted policy. I.e whoever owns the car must be the policyholder of the insurance. Insurers normally ask how many cars there are in the household, as if you say three, which you have to do the insurers will assume that you drive one, your wife drives the 2nd and your son on the last and therefore won't insure him as they will see it as fronted to bring the price down.

All insurers are different but be careful with putting a young driver on your policy that will be the main user.

Daz

insurancefactory.com
I know what it looks like, but in this case, the cavalier has been owned by my wife since 2000, I do 15,000 miles in the Astra, and the MX5 comes out on dry sunday afternoons. All are currently insured via Flux, and that was exactly thier policy: If you want to put a son or daughter on a policy, forget it.
 

·
Registered
Joined
·
421 Posts
Every one of the top 20 UK insurers lost money on private car last year - they averaged 120% loss ratio e.g. 'costs' of ?120 for every ?100 received. This clearly is unsustainable & hence premiums have started to go up over the last few months & will continue to do so throughout this year at least. -An average of ?40 per policy goes on fraudulent claims


Therefore I would get a policy in your sons name as soon as he turns 17 (you should be able to get a quote/take out a policy up to 30 days in advance). If it is too expensive then wait until he passes his test & get him to do the pass plus extra test, which can be worth up to 20% discount off a policy in his name (generally subject to him being the only driver).

Perhaps look at getting the lowest possible grouped car for his first car, Micra 1.0 etc. -also age of car makes a difference the older the cheaper - just for the first couple of years to build up some NCB in his name.
 

·
Registered
Joined
·
2,050 Posts
Spot on, although our end of year figures represented more like 130%.

Unfortunately too many injury claims spoiling it for everybody else, is the general concensus that get hit in the arse and claim for whiplash?

Be wary of 6 month or 10 month accelerator policies as often any bonus earnt cannot be transferred elsewhere but always ask the question.

Daz

insurancefactory.com
 

·
Registered
Joined
·
1,179 Posts
Discussion Starter · #7 ·
I found this http://www.provisionalmarmalade.co.uk/young-driver-insurance-application.asp

Which costs ?260 for 3 months provisional cover (Which sounds alot, but given that the cheapest quote I've had for a group 1 car with him on my policy was ?1100 more per year than it would be for me and the wife alone) So whilst he's learning it's cheaper and easier to insure him on the wife's Cavalier (or even the MX5 at no extra cost). The only problem with that is that he can't drive home from the test station as once he's passed he's no longer covered.

Sounds like half a plan. My internal commitment (which I'm keeping to myself and sharing with you lot, but not telling him) is to help him pass his test not provide him with transport. I'm a firm believer that 12 leasons with a decent instructor and Lots of practice in the Family car is the best way to learn to drive, it's how I learnt and how I helped my wife to pass first time. I watch my neice learning to drive and 1 leason a week for god knows how long seems to just drag it out and gives no real appreciation of road craft. Agreed with the pass plus idea though.

If I remember correctly my Dad handed me the keys of his Sierra Estate on my 17th Birthday and made me drive up the A roads to Coniston. I suppose he thought that a year on a moped (was I the only person to pass a moped test in 1983 I wonder) was enough practice to be able to drive 60 miles. Although it did take 2 hours.
 

·
Registered
Joined
·
1,179 Posts
Discussion Starter · #8 ·
Spot on, although our end of year figures represented more like 130%.

Unfortunately too many injury claims spoiling it for everybody else, is the general concensus that get hit in the arse and claim for whiplash?

insurancefactory.com
The insurance industry brings it on itself to a certain extent. IT NEVER DISPUTES the obvious lies.

A case in point.

Some years ago I had an accident with a Mrs Alison Campbell, Employee of Tesco, Formby.

Now in a 30 mph zone on a B road leaving town in a deserted industrial estate looking out towards the NSL signs in the distance I noticed a silver Picasso braking and moving to the left as if to stop at the curb. Now my assumption was based on the fact that the speed was VERY low and that on some mornings cars stopped to drop off an employee of the local tesco's. The car being level with the back entrance.
As I accelerated and overtook, she gently turned into the tesco staff carpark.
Now the point of impact was such that my front wing peeled off her headlight from the rear, and the damage to the picasso was pretty much : Headlight, wing and wheel trim. As I went past the wing of the picasso, it removed my indicator, wing mirror and most of the paint from from to back over a 30 cm stripe. I then mounted the curb with both front wheels locked, destroying one wheel, and bending the suspension. It's probable that I was traveling at slightly more than 30 mph I think. IF I'd be going a bit slower I'd have hit her full side on and killed her

Now I was totally uninjured except that my arms were a bit stiff and I was a bit shocked for most of the day. I still got paid for not going to work.
The impact to the piccasso bearly moved it more than if you drove over a speed bump too fast.
Mrs Campbell admitted at the road side, that she was both uninjured and that she had not been indicating.

You can guess the rest.

As soon as my insurance company knew that a doctor had signed her off work for a fortnight with whiplash, there was no way they would dispute her new claim that she had been indicating. The cost of going to court being much higher than the cost of rolling over and paying up a few thousand.

But my insurance company decided to write off my car, because their 'Prefered' repairer and their estimator thought it would cost over ?2K to fix the damage.
I'd already priced it up and I could have had it back on the road for ?600. and perfect but with some second hand and pattern parts. They refused to let me have the salvage making it a cat B. They also offered me ?600 minus my excess, which was silly as it was worth ?1500. After 3 weeks of negotiation they ended up sending me a cheque for ?1350.

I tried to point out that Campbell and doctor were committing insurance fraud in my view and that they should contact the police, but they'd clearly heard that before from thier clients.

I'm not entirely sure what the solution is. Fight every claim for whiplash ? or just look a bit closer at the damage ? Insist all claimants for whiplash attend a private clinic for assement? In my humble oppinion the average GP will do pretty much anything his 'customers' ask and just takes the patients word for it.
 
1 - 8 of 8 Posts
Top