You don't need to be an 'investor' to invest in Singletrack: 6 days left: 95% of target - Find out more
Daughter got her own policy last year after passing her test, with me as a named driver (I do also use the car frequently). Her renewal is due (price nosedived!!) but she'll be off to uni in September and won't be taking the car. She'll obviously be wanting to drive it when she comes home and I get the impression it'd be beneficial for her to maintain her policy, but she won't be the main driver in terms of 'number of days' the car gets driven. What are my options?
- She keeps her policy in her name and me as a named driver? I could see that as 'reverse-fronting' but it wouldn't be financially advantageous like the usual approach to fronting where the experienced driver/policyholder doesn't use the car
- I add the car to my policy and the car is insured on two policies
- Something else?
I've been main driver on my kids policies with no issues. 8 months of the year they are at uni, and it's my runabout/commuter. The other 4 months, we share it.
Been absolutely worth them keeping their policies going. Think I'm still a named driver for son's car even now, and he properly moved out a year ago.
I'd retain it as is. You are a named driver and she is the owner of said vehicle ? Similar situation here, in that I insure an Aygo as a spare car, I'm main driver, so son and daughter can drive it. Son usually uses it for a period of a few month's each year when he breaks his, so technically does the most miles. It's handy for me as I'll use it for shopping rather than take a diesel van.
I suppose to be truly correct, depends what you using it frequently means. With my daughter, and my son when he goes in Sept, I didn't really use her car but took it out regularly for a run to stop it seizing up, battery going flat and so on. They are home quite a lot, about 22 weeks holiday a year for my daughter and so probably were still the main driver. IMHO she's still the owner and main driver even if you actually use it a bit more, it's not really fronting and as you say is actually reverse, paying the extra.
I suspect longer term having her as the policy holder and building up ncd while not using it will compensate the extra compared to you taking on the insurance for now.
One of my insurers asks for a guesstimate of how much time each driver drives the car for - so latest one is 95% owner, 2.5% mum, 2.5 me.
Is the owner a factor here vs just policy holder / named driver(s)? I’m the owner / registered keeper, that’s not changing. And there’s a 16 year old boy waiting in the wings 🫣
When I said owner, that was lazy, I mean she's the policy holder really...so she's building the ncd etc
Owners an irrelevance more or less; i suppose my kids own their cars, although I bought them they are keepers on the v5d, and I suppose I gave them to them. I 'own' my wife's in that i arranged and pay the pcp (long story, credit rating thing) - technically I think the finance co own it still while we owe money on it - and she's the named keeper and the policy holder. I don't think we're breaking any laws....
Tldr, i think you're fine to carry on as is
And there’s a 16 year old boy waiting in the wings 🫣
It's ok, you'll only be broke until he's 21, then merely hard up
And there’s a 16 year old boy waiting in the wings 🫣
It's ok, you'll only be broke until he's 21, then merely hard up
Damn right
she may well end up using it more than you think - not being able to drive was a limiting factor in my sons choices of summer job. Uni summer hols are June-Sept potentially 12 weeks where she uses it every day. Add in some long trips at Easter/christmas and she may well put more miles on it than you using it as a run around.
Which makes me wonder (on the assumption that they’re bastards and I’m thorough) how they determine main driver and whether they’d niggle over it - hours driven, journeys made, days used?? I don’t doubt it’ll be roughly even in which case there’d be no obvious main driver.
Whatever way you chose to do this, make sure the annual milage is reduced in liwith what you expect it to be, with daughter not using the car so much it'll naturally come down. We had a big reduction in our premium when we did this (12k down to 8k), as we were no longer ferrying kids to/from Uni many miles away and don't commute with the car.
We had the odd situation when shopping for quotes: One of the big insurers insisted that my daughter had to be the main driver on our insurance as she had the highest risk, even though she would be driving the car the least, by whatever measure.
As soon as I pointed out that this would be forcing me to make a fraudulant statement, by putting her as main driver, when she wasn't going to be, and therefore the policy would be invalid if I drove the car the most and had to make a claim .. .. The line went dead immediately ... no sign off or anything.
Just finished the same situation. Car at home, daughter far away at uni. I ran it to work and back (it's insured for commuting, as daughter has work before she went away) once a week term time to keep it moving/charged/etc, daughter used it holidays. No clue who did most miles or most frequently overall - she didn't use it so much when not commuting - but it has built up lots of lovely no claims for her either way, with a much reduced risk of crashing in the process thanks to low use.