Is it worth it ?

ando

guys, would this be worth the bother:

If I was to "sell my car" to my mama or papa, get them insured on "their car" (I obviously pay for their insurance) and then for myself to get insured under their policy?

I got my car around 2months ago, I'm paying €576 a month for third party insurance until July/August (€4609 for full year). Its a bit of a struggle to get that kind of money every god damn month.

Is it worth putting my dad down as the owner of the car? Would it make much of a difference in my premium? I realize I would be named driver and that I would not be gaining a NCB, but f*ck it, it won't make much difference until I'm 25 or 27.

BTW, I was looking around for online quotes and just got a quote of €9,269.71 for third party......

Chimaera

Strictly speaking the policy holder is supposed to be the main driver, and named drivers are only supposed to be occasional. There is one school of thought which says that the company can never prove who drives most of the time, and you can go ahead and drive away as a named driver.

The advantages are that you pay a lower premium, and can probably get a higher level of cover than you would in your own name. But the disadvantage is that you don't build up a no-claims bonus as quickly, and chances are any discount you get will only be valid with that insurer. You could also be caught out in the event of a claim, if the insurer decides that you were out to get them.

mike65

I did exactly what you're considering Ando, for years. Sure enough its much cheaper, and you have to trade that against the lack of NCB but if its that or being driven off the road or having to get a really old and cheap car you'd be ashamed of (!) of why not?

It is an "offence" not to be the owner if you're the main driver but
as stated above how can it be proven? It can't.

How do your parnets feel about being co-opted into a scam?

Mike.

ando

Originally posted by mike65
How do your parnets feel about being co-opted into a scam?

My ma is fine about the idea, not sure about my dad, but he's the logical one to do the deal with , as he has the full licence and 30 years driving experiance. I think he's paying 700 for comprehensive on his fiesta. Would you mind giving a guess to what kind of premium he'd be looking at if he was to get insured on my focus as primary driver with me as named? I dont have a clue what kind of premium to expect

BTW, my ma wants to be compensated for getting a full licence if I did the deal with her !!!!!! lol

mike65

Very difficult to estimate, whats the model and book value of both cars? Do you have a full or provision licence, any "history"?

Mike.

The_Bullman

Will it work if your da already has his own car.

the only way I have heard this work is if only 1 parent has a car(say your da), you then get your mother to buy the car, and then do the scam.

Not sure if it will work otherwise

ando

hmm

mike: 21, male, dont have a NCB, but have 2 yrs named driver experiance, no incidents. My car is a 1.4 focus 2000 bought it for €13000 although now she's got alloys and a few other mods (not engine) and I've a full licence for 3 years

Mayshine

Ando,

This is a bit off topic, but did the alloy wheels affect your premium, and what size did you fit. I'm looking at 17" OZ chronos, but won't do it if it affects my premium

Dave

mike65

Ando, I'd really need the value and engine of your dads fiesta, but I assume the Fiesta is recent and say a 1.3 I'd say you'd looking at something like comp insurance for him and you of around €1100-1200 for the Focus.

BUT thats a very ball-park figure, you das car could be 10 years old and 1.0ltr. The €700 you mention for him sounds kinda high so I guess its quite new.

If he's willing, you could save a ton by shopping around,
even though all insurance rates a far too high, there can still be huge differences between quotes.

There is one posibble snag, namely if your dad takes on a second car and looks for a quote the company might wonder
why you would be the named driver on the (bigger) Focus rather than the (smaller) Fiesta. They might assume it would be the other way round.

That said, what ever the figure is, it'll be so much less than what you're paying now (€4609 for full year) you'd be mad not to talk him round and have a try.

Mike.

ando

thanks mike

btw, the fiesta is new enough, a 1 year old 1.3. If I decide to go for it, I'll take your advise and be cautious, but hell, even if i got a quote of 2 grand, it would still be a huge saving. It may be a better option however if I get my mother to pass her test, get a full licence and then get her to be main driver on my car with me as named. It'll look a bit more real on paper I guess.

Ando,

This is a bit off topic, but did the alloy wheels affect your premium, and what size did you fit. I'm looking at 17" OZ chronos, but won't do it if it affects my premium

Dave

Dave, I went from 14" steels to 17" alloys. The insurance company do not know of it and its gona stay that way. If they get stolen, so be it, I would not claim anyway for fear of premium going up! But make sure you get locking nuts for the alloys if you decide not to tell the insurance company, especially seeing you are getting OZ alloys

Mayshine

Cheers ando,

I posted of www.ffoc.co.uk to one of your threads in the Eire section. Got a very similar car to yourself, apart from the engine. Saw your photo, you have a sweet looking machine.

Going to do any visual mods??

Dave

sceptre

Originally posted by ando
But make sure you get locking nuts for the alloys if you decide not to tell the insurance company, especially seeing you are getting OZ alloys

Lock nuts would be a good idea whether you feel like telling the insurance company or not (even if like me you take ten minutes to find the key/whatever_its_called thing when you get a flat).

ando

Originally posted by sceptre
Lock nuts would be a good idea whether you feel like telling the insurance company or not

ah yeah ofcourse. I got locks myself, I was just reinforcing the issue because OZ alloys are pretty damn sweet looking

Dave: weyhay, someone on FFOC from this side of the sea !! lol I've replied to you on ffoc forum

kayos

@Ando: TBH I would not bother selling your car on to your parents if you can somehow afford to keep it. As you will still get lumped with a huge premium as a named driver.

As for lock nuts on your alloys they are always a good thing. I got me a set of OZ F1+ and they have a nice center piece that needs two special keys to open before you even get near the nuts .

kayos

leeroybrown

Unless you get your father to insure the car with his current company (Which would look a tad suspicuous ... father registering second newer car and putting son on as named driver) you may find that a lot of insurance companies will view the situation quite suspiciously.

My father retired a year ago and went from driving a company (fleet) insured car to going back to his own insurance. As the insurance was fleet he had no NCB statement so his premium was ~€1000 TPFT (cheapest quote) on a 1.9 TDi but when he asked about getting me (21, full licence since 20) put on as a named driver the lowest quote he got was ~€4000. That was on TPFT.

The insurers basically told him that because he had no track record with them (obviously lack of NCB didn't help) they couldn't trust that I wasn't going to be the main driver. Since the day he reired I havn't sat in the drivers seat of a car (sob ).

Perhaps with your fathers NCB they mightn't be as suspicious, but ...

Samba

I went to try that a few years back myself, when I rang up for a quote, I was told that it was not possible unless the car was 97 upwards, I have no idea what the policy on this is, but obviously it is an attempt to disuade people doing what you are thinking of.


On a good note, I recently got a quote for monthly insurance for a Mitsubishi Space wagon under my Mothers name.

45.54 Eur a month (she has a very good record).

Farls

Dunno if this has already been posted but i had an idea of getting dad to insure a HP car say a 2litre turbo 4wd impreza for arguements sake and i'd insure his car, say a peugeot 406 1.9 diesel.cost would look something like this

dads insurance on scooby --> €1200

my insurance on peugeot --> €2000

this is just a guess on the insurance side of things, but its an educated guess.

The plan being that if your the policy holder on 1 vehicle, you are covered to drive any other vehicle that has cover as long as you have the owners consent. So there could be a saving of thousands to be made here along with building up the NCB, alright dads insurance might go up a few hundred, but i would happily pay that knowing that mine would come down thousands.

Its a good idea i reckon, and one that im thinking about using but my insurance is not up again till september...

wots your thoughts on it?

Farlz

ando

never taught of that one farls :eek:

So your saying I'd go and get insured on my dad's fiesta as the main driver and he gets insured on my focus. TBH I can't see my premium going down to much for the 1.3 fiesta I dunno if it would be worth going through with it

Chimaera

Farls, I don't know of any company that will give you open driving if you're under 25 though, and open driving cover is generally third party only.

Also, some insurance companies won't let a person hold more than one insurance policy at a time, and don't put guys on their mother's insurance.

I'm a named driver with hibernian, and they wouldn't put me under my mother's policy at all, and they wouldn't let my father insure two cars in his own name either, so we're in the interesting position at home, where my mother holds the policy on our main car, which my father drives most of the time, and my father holds the policy on our second car, which I drive most of the time. 'Tis all a bit daft really :rolleyes:

mike65

Reading back through this thread my reaction is one of sadness
that Ando a (no doubt) decent law abiding citizen has to jump through "dodgy" hoops to achive affordable motoring.

Mike.

leeroybrown

It is a pretty pathetic situation alright.

Ando should work out how much of his working time a week he spends paying for car insurance

Farls

I would explain my idea a lot better but im only on the net in short bursts at college at the min, sorry.

As for open driving, im not talking anything of the sort

Neither my insurance, nor my fathers is open driving.

I'm only 20 and am covered (Third Party F&T) on any car which has an insurance policy on it as long as the car owner has given me permission to use the vehicle.

I've explained my insurance many times before and its just a normal run of the mill third party f&t policy i have in my own name.

I've checked this up with the ppl in claims in QD and im covered if i go ahead with this plan.

As for savings, it would save me a good 2 grand a year almost.

I'd appreciate Chimaera if you didn't dismiss my posts as daft as i do have experience in this field and am only trying to help.

Farlz