merlina Posted May 31, 2015 Share Posted May 31, 2015 I thought I'd share this cos I've been absolutely stumped/brain-boggled and all round confused by this.... So I, finally (after years of looking) finally bought myself a new(er) car hurrah! And decided I would give my old car which is worth next to nothing to my other half who is without a vehicle. It costs me about £140 to insure the old car (fully comp, full NCD) a year. I expected it would cost SO the same (he has his own full NCD, similar age, etc etc). So we get quotes to insure him. Cheapest - some change under £400. I ring my insurer, who has had him on my policy for years to see if they can do better - they want £700!! The best explanation they can come up with is that insurance companies don't consider it a good risk to insure someone who becomes the owner of an old vehicle. This is very frustrating - it would be cheaper for him to buy a cheap car and insure that than have a free car and insure it. When I was a youngster (ok, that was awhile ago ) it was much much cheaper to insure old/worthless cars. What happened? (anyone want an old Vauxhall with a few months MoT on it?!) Quote Link to comment Share on other sites More sharing options...
Ain't Nobody Here Posted May 31, 2015 Share Posted May 31, 2015 That seems totally crazy . They won't have to pay out much if he does have an accident so what exactly are they insuring ? Do they think you're more likely to have an accident in an old car? Can't see why . Quote Link to comment Share on other sites More sharing options...
Geoid Posted May 31, 2015 Share Posted May 31, 2015 Could you keep it on your insurance and add him as a named driver? Quote Link to comment Share on other sites More sharing options...
merlina Posted May 31, 2015 Author Share Posted May 31, 2015 Could you keep it on your insurance and add him as a named driver? He is on my insurance as a named driver. But my policy with NCD will go on insuring the new car - so I would have to start a whole new policy with no NCD to continue to do that - which, strangely, is slightly cheaper than him insuring it with his full NCD... Part of why we wanted to do this is that he needs to have an insurance policy so he doesn't lose his NCD - I thought it would be soooo simple! Quote Link to comment Share on other sites More sharing options...
CatieB Posted May 31, 2015 Share Posted May 31, 2015 Have you tried adding you as a named driver on his new quote - know it sounds odd but one year I rang around to see how much it would add to my policy to put OH on it, and it actually went down I swear this is true so much so I can tell you that I recall I was with Sheila's wheels because I commented to ask how can a woman's targeted company offer a policy for less with a man added....apparently it's less risk! That was a few years ago an I know risks change but maybe worth a try. I assume you have also tried a comparison website. Quote Link to comment Share on other sites More sharing options...
merlina Posted May 31, 2015 Author Share Posted May 31, 2015 yes, I'm on his new quote It's cheaper to have pretty much any grown-up (ie over 40ish experienced driver) on any policy these days, unlike in the olden days when adding someone cost more money. We played around a lot with the comparison sites - it was cheaper to insure a £30k Rolls Royce for him than my old Vauxhall! (ditto posh BMW). Ludicrous! Quote Link to comment Share on other sites More sharing options...
CatieB Posted June 1, 2015 Share Posted June 1, 2015 Gosh! I think you should add this to my numpty decisions thread Quote Link to comment Share on other sites More sharing options...
chickencam Posted June 1, 2015 Share Posted June 1, 2015 Have you tried a multi car policy? It is cheaper to insure newer cars because the assumption is that they will be driven with more care. Most of the cost of insurance is not the value of the vehicle but the third party element which covers personal injury. Insurance often seems nonsensical it is cheaper to ensure our two older children on our more powerful common cars than on a less common lower powered car because there are less accident statistics to go on for the less common car apparently. They like to balance their risk. Quote Link to comment Share on other sites More sharing options...
The Dogmother Posted June 2, 2015 Share Posted June 2, 2015 I am reading this with interest as I am going to ask about insuring Rosie on my 'truck' as I am teaching her to drive on private land at the moment. I understand that there's now a personal learners insurance. My brokers are Bridle Insurance in Witney... They have been very good at finding me best deals and maintaining my maximum NCD. Quote Link to comment Share on other sites More sharing options...
merlina Posted June 2, 2015 Author Share Posted June 2, 2015 The multi-car policy would mean going to a different insurer as mine don't do it (and thus cancelling my policy comes with a different heap of charges) and doesn't help preserve SO's NCD, which was one of the main objects of the exercise. But it's still a possibility I'm wrangling with. @DM: Adding Rosie isn't usually *too* expensive as long as you remain the main driver (well, that's what him indoors found for his kids, but maybe that's changed now too!) Quote Link to comment Share on other sites More sharing options...
Leicester_H Posted June 2, 2015 Share Posted June 2, 2015 My brokers are Bridle Insurance in Witney... They have been very good at finding me best deals and maintaining my maximum NCD. I used to use a broker but then I found using comparison sites MUCH better. Last year I got my renewal quote from the AA which said they'd match any like-for-like quote. So I found quote (there were some cheaper but I didn't know the companies so wouldn't 'risk' it) and they matched it to keep my business. I would have moved if they hadn't. So my fully comp insurance, with protected (full) NCB, legal assist insurance was £176 which I didn't think was too bad. OH is a named driver as well. H Quote Link to comment Share on other sites More sharing options...
