Insurance loophole

LadyLucinda

Basically I'm being quoted ridiculous prices for car insurance. I have about 6 years driving experience but because I was a away for a year there is a break in the chain on my insurance. I am now seen as an 18 year old who has never driven before by insurance companies.

Can I just buy a car and put my insurance under my mothers? Somebody told me that that has been stopped now for some reason and its hard to do?

liam7831

Best thing to do is just pay for the year while you are away, ends up a lot cheaper.........too late for you now.

Stheno

LadyLucinda wrote: »

Basically I'm being quoted ridiculous prices for car insurance. I have about 6 years driving experience but because I was a away for a year there is a break in the chain on my insurance. I am now seen as an 18 year old who has never driven before by insurance companies.

Can I just buy a car and put my insurance under my mothers? Somebody told me that that has been stopped now for some reason and its hard to do?

Insurance company will quote based on the highest risk - you

LadyLucinda

Stheno wrote: »

Insurance company will quote based on the highest risk - you

But I'm insured under her now and its not expensive at all?

punisher5112

What a lot are doing is say buy a sh1tbox 1 litre insure it and have open drive then drive around in another car once not registered to them.

salmocab

LadyLucinda wrote: »

But I'm insured under her now and its not expensive at all?

Does your mother already have her own insurance and car?

LadyLucinda

salmocab wrote: »

Does your mother already have her own insurance and car?

Yes and I'm a named driver under her insurance

salmocab

LadyLucinda wrote: »

Yes and I'm a named driver under her insurance

Then Im pretty sure she won't get another policy

liam7831

LadyLucinda wrote: »

Yes and I'm a named driver under her insurance

Long term its prob gonna cost you more the longer you go without your own policy

Stheno

LadyLucinda wrote: »

Yes and I'm a named driver under her insurance

You do know that most insurance companies will not mirror her no claims as usually that can only be for one policy?

LadyLucinda

liam7831 wrote: »

Long term its prob gonna cost you more the longer you go without your own policy

In an ideal world yes, but I am being quoted more than I would be spending on a car

liam7831

LadyLucinda wrote: »

In an ideal world yes, but I am being quoted more than I would be spending on a car

Ya its a joke, but i thought your no claims lasts for 2 years and you were only away one year ?

LadyLucinda

Stheno wrote: »

You do know that most insurance companies will not mirror her no claims as usually that can only be for one policy?

If I waited until later in the year when I'm 26 would it make much difference?

Stheno

LadyLucinda wrote: »

If I waited until later in the year when I'm 26 would it make much difference?

Probably not tbh

LadyLucinda

liam7831 wrote: »

Ya its a joke, but i thought your no claims lasts for 2 years and you were only away one year ?

Insurance company told me that I am the equivalent to a 17 year old to them and thats the same accros the board with every company

Stheno

Did you have a full licencep and your own policy for your six years t of driving

LadyLucinda

Stheno wrote: »

Did you have a full licencep and your own policy for your six years t of driving

I have had a full license for over 5 years but never my own policy

Stheno

LadyLucinda wrote: »

I have had a full license for over 5 years but never my own policy

So you were a named driver the whole time you were previously insured?

anothernight

If you're the main driver of the car you buy, your mother can't be the policyholder (which is how you'd get cheaper insurance). That would be fronting and it constitutes insurance fraud.

I was under the impression that your NCD was valid for 2 years after expiration of the last policy.

Have you tried getting quotes through a broker?


EDIT: just saw that you weren't the policyholder before. Some insurers accept a letter of named driving experience in lieu of a no claims bonus.

liam7831

LadyLucinda wrote: »

I have had a full license for over 5 years but never my own policy

Ya their correct so unfortunately they cant quote you what they want. What was the quote anyway and what type of car?

Stheno

anothernight wrote: »

If you're the main driver of the car you buy, your mother can't be the policyholder (which is how you'd get cheaper insurance). That would be fronting and it constitutes insurance fraud.

I was under the impression that your NCD was valid for 2 years after expiration of the last policy.

Have you tried getting quotes through a broker?

That article says it generally the case not definitely

And ok never had his own policy which is also an issue

anothernight

Stheno wrote: »

That article says it generally the case not definitely

It's at the discretion of the insurer, but some will accept it up to 3 years, and some not at all. I just thought it was strange that none of the insurance providers were accepting it at all! That was before I saw that she didn't have her own policy.

Liam McPoyle

punisher5112 wrote: »

What a lot are doing is say buy a sh1tbox 1 litre insure it and have open drive then drive around in another car once not registered to them.

So people can afford to buy two cars, insure one, but couldn't afford to buy and insure one?

Open drive covers people to drive YOUR CAR.

You are talking about driving of other cars.

Most insurers will only offer third party only cover for this so if people actually do this, ie have a decent car registered to someone else and with them as the main driver getting minimal cover ie third party only, and some chicken coop insured while parked up, they are utterly stupid then they deserve to have the decent car stolen or written off for their own stupidity.

Charles Babbage

Insurance companies may well differ in relation to a person such as yourself. Ring them, ring brokers. Search on Google as there are other threads about this issue from people who went abroad for a year or two.

LadyLucinda

2k for a 1.9tdi passat. 1100 for a 1l polo. both third party

Stheno

LadyLucinda wrote: »

2k for a 1.9tdi passat. 1100 for a 1l polo. both third party

Those quotes are actually ok, given your age and lack of no claims in your own name imo

Certainly not outrageous I thought you were going to say 4k plus

Liam McPoyle

LadyLucinda wrote: »

Basically I'm being quoted ridiculous prices for car insurance. I have about 6 years driving experience but because I was a away for a year there is a break in the chain on my insurance. I am now seen as an 18 year old who has never driven before by insurance companies.

Can I just buy a car and put my insurance under my mothers? Somebody told me that that has been stopped now for some reason and its hard to do?

Were you named on the policy for at least one full year out of the last 2 years?

If so, then most insurers will allow you what's known as an introductory bonus.

The first thing you need to do is contact your mothers insurance company and ask them for a letter of named driving experience for yourself.

This is a very common thing so there should be no issue getting one.

Then you will know precisely how long you were a named driver and you can set about getting quotes.

If for example you were named for a full 5 years, up until April 2015, then alot of insurers will recognise this and allow you some level of discount.

So tomorrow, ring them and request a letter of named driving experience, then you will have a clearer idea of where you stand.

4068ac1elhodqr

Thought it was normally only a 2yr gap or longer, that would void the NCB.

Liam McPoyle

Channing Hundreds Hemp wrote: »

Thought it was normally only a 2yr gap or longer, that would void the NCB.

That's for an earned bonus ie a bonus in your own name, named driving experience is different though I'd be very surprised if no company would recognise named driving experience that is still within a two year period.

punisher5112

Saul T Nutzz wrote: »

So people can afford to buy two cars, insure one, but couldn't afford to buy and insure one?

Open drive covers people to drive YOUR CAR.

You are talking about driving of other cars.

Most insurers will only offer third party only cover for this so if people actually do this, ie have a decent car registered to someone else and with them as the main driver getting minimal cover ie third party only, and some chicken coop insured while parked up, they are utterly stupid then they deserve to have the decent car stolen or written off for their own stupidity.

100% agree but it actually is been done.

Liam McPoyle

punisher5112 wrote: »

100% agree but it actually is been done.

Im aware of that and its part of the reason the insurance industry is in such a mess.

All I'd hope is that if people are aware of others perpetrating insurance fraud that they will report them to insurance confidential.

Companies can only do so much so its up to the decent, law abiding citizens to help stamp out the crime.

punisher5112

Saul T Nutzz wrote: »

Im aware of that and its part of the reason the insurance industry is in such a mess.

All I'd hope is that if people are aware of others perpetrating insurance fraud that they will report them to insurance confidential.

Companies can only do so much so its up to the decent, law abiding citizens to help stamp out the crime.

My 1st quote was €6500 named driver 19 years old on 1.6 primera.

Got my own on micra at €3300 car was worth €1500. Full licence at 20.

Now I pay €1700 it rose this year as with all the hikes but advantage is I drive whatever I want nothing restricted at all.

3 years ago lost the motorbike inclusion though but still covers me for what i want.

anothernight

punisher5112 wrote: »

My 1st quote was €6500 named driver 19 years old on 1.6 primera.

Got my own on micra at €3300 car was worth €1500. Full licence at 20.

Now I pay €1700 it rose this year as with all the hikes but advantage is I drive whatever I want nothing restricted at all.

3 years ago lost the motorbike inclusion though but still covers me for what i want.

:eek:
Is that how bad it is now?! My first quote was only a few years ago and it was €2200 on a learner's permit, 1.4 Megane, through Britton.

To Elland Back

punisher5112 wrote: »

100% agree but it actually is been done.

And that is why a nice policy benefit will soon be withdrawn by insurers or become very difficult to get.

biko

As you can see from this thread
http://www.boards.ie/vbulletin/showthread.php?t=2057482518
you are actually not paying crazy amounts at all.

People with many years own policy and lots of NCB pay 4/500.

punisher5112

anothernight wrote: »

:eek:
Is that how bad it is now?! My first quote was only a few years ago and it was €2200 on a learner's permit, 1.4 Megane, through Britton.

No this was back mid 00s

moleyv

Aviva usually give a discount for named driver experience. Might be worth a call if you haven't already.

Jesus.

Saul T Nutzz wrote: »

All I'd hope is that if people are aware of others perpetrating insurance fraud that they will report them to insurance confidential.Companies can only do so much so its up to the decent, law abiding citizens to help stamp out the crime.

For driving his Mother's car? :eek:

Esel

Jesus. wrote: »

For driving his "Mother's" car? :eek:

FYP

billy few mates

I had the same thing happen to me when I returned from a number of years living in the ME where I'd been driving a company provided hire car so not one single company would recognise my previously earned NCB and I was seen as a forty year old new driver so one of the highest risks imaginable according to them. Most of the wouldn't even quote me but in the end I got one but it was high and on a small car and eventually I got my NCB back.
Have you spoken to the AA...?
I spoke to them a couple of weeks ago to get some rough quotes for a first time policy for an 18 yo starter with zero NCB on a couple of basic starter cars and the guy I was talking to reckoned with the right car choice I could be able to get on the road for just under €2K, expensive, but not as bad as I thought it was going to be....

biko

Do the Ignition Course, it'll shave down the premium.

billy few mates

Ignition course...?

Hal1

Keep ringing around, try brokers only as I find them best to use. If still costly maybe consider monthly repayments.

punisher5112

billy few mates wrote: »

Ignition course...?

Aviva do the course you pay for the day but premium should be reduced.

Its an advanced driving course similar to a test but you can't fail unless your a danger to others.

Cookie_Monster

billy few mates wrote: »

with the right car choice I could be able to get on the road for just under €2K, expensive, but not as bad as I thought it was going to be....

that's still an insane amount of money whatever way you look at it and the very fact that people are becoming normalised to it shows how broken the entire industry really is.

Liam McPoyle

Cookie_Monster wrote: »

that's still an insane amount of money whatever way you look at it and the very fact that people are becoming normalised to it shows how broken the entire industry really is.

For someone with no bonus?

Its really not.

First time drivers in the not too distant past were paying £3000 or £4000 to get on the road for the first time in their own name with Quinn.

Its cheaper (sic) than ever for people to get their first motor insurance.

Jesus.

Cookie_Monster wrote: »

that's still an insane amount of money whatever way you look at it and the very fact that people are becoming normalised to it shows how broken the entire industry really is.

Spot on

winnie the schtink

punisher5112 wrote: »

What a lot are doing is say buy a sh1tbox 1 litre insure it and have open drive then drive around in another car once not registered to them.

thats not what open drive is

MEGA BRO WOLF 5000

LadyLucinda wrote: »

Basically I'm being quoted ridiculous prices for car insurance. I have about 6 years driving experience but because I was a away for a year there is a break in the chain on my insurance. I am now seen as an 18 year old who has never driven before by insurance companies.

Can I just buy a car and put my insurance under my mothers? Somebody told me that that has been stopped now for some reason and its hard to do?

The very same thing happened me OP. 8 years NCB, went abroad for a while to a country where you didn't need insurance, came home and tried to get a quote and was refused in a lot of places and quoted insane prices in others. They were treating me like I had never driven in my life before. Had to settle for a old banger 1 litre in the end, I was laughed at when I wanted to insure my own car that id previously been insured on. Quotes ranged from €1200 to €3100 on a single car....

Which just proves that insurance companies pull prices out of their holes.

Esel

The Hunky Monster wrote: »

The very same thing happened me OP. 8 years NCB, went abroad for a while to a country where you didn't need insurance, came home and tried to get a quote and was refused in a lot of places and quoted insane prices in others. They were treating me like I had never driven in my life before. Had to settle for a old banger 1 litre in the end, I was laughed at when I wanted to insure my own car that id previously been insured on. Quotes ranged from €1200 to €3100 on a single car....

Which just proves that insurance companies pull prices out of their holes.

Them's the breaks, man. Policy expired more than 2 years less a day? You gotta pay.

I could well be wrong, but I think you can suspend your policy, which might have avoided the 2 year trap?

I'm sure some of the genuine insurance experts here can clarify that.

Cookie_Monster

Saul T Nutzz wrote: »

For someone with no bonus?

bonus or not, what does it matter.

Its really not.

maybe in Irish terms its not but we've seen time and again how dysfunctional the industry in ireland is. But we also know you'll defend the industry to the hilt every time anyway.

First time drivers in the not too distant past were paying £3000 or £4000 to get on the road for the first time in their own name with Quinn.

so because its slightly less insane than previous that makes it ok?

Saul T Nutzz wrote: »

Its cheaper (sic) than ever for people to get their first motor insurance.

still 10 times what I pay over here!
Yes I have more experience now but even compared to my parents who are still in Ireland driving tiny engined bog spec rubbish I pay 3 or 4 times less despite 20+ years less experience.