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.

vectra

mickey mac wrote: »

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.

Agreed but my bonus is protected.

DylanII wrote: »

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.

You tell me if it would increase.

Del2005 wrote: »

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.

Again it is not me making the claim
My bonus is protected, not the named driver,
Go check it out.

areyawell

My father is insured on two cars with two different companies. One is my car and I'm the named driver. He was not allowed to use his no claims discount on my policy. You are only allowed it on one policy. If I crash my car my father will not lose his no claims discount on his original policy. He has two insurances and decided obviously to keep the no claims discount on his own car.
Since he has two policys it will only affect his no claims bonus on one policy(my car) not the other policy.

Just say I crashed my car in the morning as a named driver and we had to make a claim. It will not affect his no policy on his car one bit as it is a second insurance. He has two seperate policies.

Now on this insurance on my car this year when I am renewing my insurance under his name I will have one years no claim discount as a named driver and as this is a second insurance and he will have one year no claims bonus on the second insurance. He has built up a one year no claim bonus on a second insurance. How do people not see this?

DylanII

I did the same thing myself. I started as a named driver, im not saying dont do it.

Your no claims bonus will not be affected, but your premium will. I'll explain it in full when I get to my laptop, I'm on my phone now.

areyawell

DylanII wrote: »

I did the same thing myself. I started as a named driver, im not saying dont do it.

Your no claims bonus will not be affected, but your premium will. I'll explain it in full when I get to my laptop, I'm on my phone now.

There are many that come into consideration but the main one is obviously if your male or female(I know that's changing soon) or your age.

If insurance on your own is 1500 euro and 800 under your parents name then you are obviously better going under your parents insurance. When you get your full license and have a year driving the policy will come down.
If your insurance is 1500 on your own and 1200 under the parents then maybe its better to get your own insurance as theres only 300 in the difference.

I started driving when I was 23. Insurance in my own name on my provisional was 1400 euro. It was 840 euro under the parents name. I decided to go under the parents name.

A year later at 24 I'm still on my provisional and got a renewal for 680 euro under the parents name. Insurance under my own name was 1100 euro.

If I took out insurance under my own name it would not have made my insurance cheaper this year whatsoever. Liberty Insurance take into account that you were a named driver for a year. If you ring up other companies and tell them this they this will bring down your policy again. Never use the online system, not proper quotes and ripping people off.

Insurance companies tend to charge younger people 400-500 euro for insurance anyway even with 5 years no claim bonus and a full license.

Once you have the full and there's only a 200 or 300 between getting your own insurance and going under the parents name then get your own insurance. you will save a fortune in the long run!

oldyouth

vectra wrote: »

Again it is not me making the claim
My bonus is protected, not the named driver,
Go check it out.

Sorry, but it IS you making the claim. It is your policy and YOU are seeking indemnity under it for the actions of a driver authorised and agreed to drive the vehicle. Your insurers have a contract with you and not your named driver.

Tell me this, who will have to complete the claim form sign the declaration on it? Whose name would a cheque be payable to for any own damage element of the claim? You seriously think it will have no knock-on effect for you?????

vectra

oldyouth wrote: »

Sorry, but it IS you making the claim. It is your policy and YOU are seeking indemnity under it for the actions of a driver authorised and agreed to drive the vehicle. Your insurers have a contract with you and not your named driver.

Tell me this, who will have to complete the claim form sign the declaration on it? Whose name would a cheque be payable to for any own damage element of the claim? You seriously think it will have no knock-on effect for you?????

Here we go again.
If my son has an accident/claim on that said policy then he is on his own for renewal.

How will this affect me?

areyawell

oldyouth wrote: »

Sorry, but it IS you making the claim. It is your policy and YOU are seeking indemnity under it for the actions of a driver authorised and agreed to drive the vehicle. Your insurers have a contract with you and not your named driver.

Tell me this, who will have to complete the claim form sign the declaration on it? Whose name would a cheque be payable to for any own damage element of the claim? You seriously think it will have no knock-on effect for you?????

No it does not as its two separate insurances. You can only use your no claims on one insurance but can build it up on a second insurance.

I'm under my parents insurance under a different company on my car. After one year of driving the parents have one years no claim bonus on the second insurance on my car and I also have one years named drivers experience. If I crash my car and the parents make a claim on my car they will lose the one years no claim bonus on the insurance on my car and will not harm there's on there own car in any way

Marcusm

vectra wrote: »

Here we go again.
If my son has an accident/claim on that said policy then he is on his own for renewal.

How will this affect me?

The insurance company, acting sensibly, will review your history and determine that, as a result of the claim you are a higher risk than they previously assessed. Accordingly, while the NCB is retained(say 50%), they are perfectly entitled to increase the underlying premium to take account of the higher perceived risk. What you are protected against is, in this instance, 50% of any increase rather than the entirety of the increase. Logic might dictate that, should you opt to drop the named driver in respect of whom a claim was made, such higher risk need not be factored in.

oldyouth

vectra wrote: »

Here we go again.
If my son has an accident/claim on that said policy then he is on his own for renewal.

How will this affect me?

Right, for the last time (believe me on that) I am not saying that your insurance will increase on your main policy for any accident on a policy that you are fronting. I am just saying that it is a claim that you make as a result of an accident that the named driver may have. It then forms part of your claims history and you must declare it to any potential insurer you approach looking for a quote. What they do with that information will vary from company to company.

It is the drivers accident which forms part of his history and it is your claim which forms part of yours. I note you didn't address the questions I put to you in my last post.

Anyway, laters..........

djimi

vectra wrote: »

Here we go again.
If my son has an accident/claim on that said policy then he is on his own for renewal.

How will this affect me?

areyawell wrote: »

No it does not as its two separate insurances. You can only use your no claims on one insurance but can build it up on a second insurance.

I'm under my parents insurance under a different company on my car. After one year of driving the parents have one years no claim bonus on the second insurance on my car and I also have one years named drivers experience. If I crash my car and the parents make a claim on my car they will lose the one years no claim bonus on the insurance on my car and will not harm there's on there own car in any way

You both seem very confident that the insurer of car A (the one without the named driver) will not take into account when calculating you base premium at renewal the claim on car B that you legally have to disclose to them...

DylanII

Any claim that is made against a policy that is in your name is your claim.

There are two policys, A - Your main policy & B your named driver policy.

If your named driver is in an accident and someone claims from policy B then they are not claiming from the named driver, they are claiming against your policy. If their claim is successful then there will be a claim on Policy B.

If you have Full NCB Protection then your No Claims Bonus/Discount will not be affected on either policy B or A.

You say that if your named driver is in an accident you will just cancel his policy and let 'em get their own policy. So now policy B is gone.

When you are renewing with policy A or looking for a new quote then you will still have your Full NCB (even if you don't have a full NCB Protection). However, you must legally disclose the fact that there was previously a claim made against you (or your policy). This will generally lead to an increase in your premium.

Our man in Havana

I knows someone who insures his car in his granny's name and just uses open driving for his insurance needs. Saves a packet apparently.

CoDy1

People should be aware that if the main driver of the policy is not the policyholder that this needs to be declared to the insurance company as any resulting claim would be rejected and the policy invalidated. Especially, if you have a policy in your own name on your own vehicle already. I have heard of many claims being rejected by insurers lately because of this very reason.

This drastically increases the premium in the cases of a parent trying to get cheap insurance for the child by taking out the policy in their name and adding the child, therefore my advice OP, would be to take out a policy in your own name and earn your own NCB.

vectra

DylanII wrote: »

When you are renewing with policy A or looking for a new quote then you will still have your Full NCB (even if you don't have a full NCB Protection). However, you must legally disclose the fact that there was previously a claim made against you (or your policy). This will generally lead to an increase in your premium.

And you know this as fact I assume?

djimi

vectra wrote: »

And you know this as fact I assume?

Do you think that your premium will not increase after a claim?

awec

This post has been deleted.

keithclancy

Look, long story short:

If its your car, you drive it most of the time: Main Driver.
If its not your car and you drive it from time to time: Named Driver.

If you go outside this then its at your own risk as there are too many variables to take into account.

IMO Only 'non shady grey area' way of doing it is sticking a family member down as a named driver on your policy (since they may actually use the car from time to time)

This can also reduce your premium.

Some good advice on the NCA Site:
http://www.nca.ie/nca/car-insurance

If the policy costs significantly less, theres a reason for it.

Myself .. I wouldn't do jack sh*t unless I had it in writing from the Insurance company.

I.E. My son johnny is down as a named driver on the car, even though he drives it most of the time and for all intents and purposes its his car, is he insured. Please also confirm that any incidents will not affect by NCB Whatsoever.
I'd want a solid yes answer.

awec

This post has been deleted.

djimi

Do insurers actually set a limit on how much named drivers are allowed to drive the car? By the sounds of it the rules they set are pretty vague and open to abuse. Certainly the named driver system has been abused in this country for years; its pretty much the only way most people I know could afford to start out driving.

Also, the fact that many are now offering a full years NCB for a years named driving experience suggests to me that they are, unofficially anyway, accepting the fact that many named drivers are the principle driver of the vehicle.

vectra

djimi wrote: »

Do you think that your premium will not increase after a claim?

Which premium are you asking about?