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Insurance - Dont understand something...

Discussion in 'Motors' started by megakid, 21 Jan 2006.

  1. megakid

    Wise Guy

    Joined: 6 Jun 2004

    Posts: 2,381

    Location: London

    I've been playing around with different quotes in my name on elephant.co.uk with reasonably high powered cars - Celica GT4s, 200SXs etc

    Now, they all come out at ~£2300 for 12months fully comp (with me as 21 with 0NCB) but as soon as I add both my parents to the quote as named drivers (me still as primary obviously), it goes down to £1550ish....that's a £750 saving! Why is that? Granted they're both retired and both have their own cars, no accidents in last 3 years etc but I dont understand why it saves ME £750 just by naming them on the quote.

    Ok so they could drive my car, but if I didnt want them to do that, could I not just put them on there without informing them? Hence getting my insurance £750 cheaper?

    Am I missing something?
     
  2. killsta

    Mobster

    Joined: 18 Oct 2002

    Posts: 3,069

    Location: Around

    You're high(er) risk..they're not. They'll be driving the car sometimes, which means you're not, which = lower risk overall.
     
  3. TripleT

    Sgarrista

    Joined: 24 Oct 2002

    Posts: 9,425

    Location: Manchester City Centre

    They are taking into account that your parents will be driving the car for a % of the time, as they're less of a risk than you that's why it reduces the cost :)

    Quite alot of companies do it and it's completely legal :)
     
  4. megakid

    Wise Guy

    Joined: 6 Jun 2004

    Posts: 2,381

    Location: London

    Fair enought...I'm not complaining :D

    PS. would it matter if they live in Spain? ;)
     
  5. mr tommo

    Soldato

    Joined: 13 Dec 2004

    Posts: 5,382

    Location: Stoke-on-Trent

    If you have tried elephant i recommend admiral and bell direct, all part of the same company IIRC and have the same lay out as elephant.co.uk(which is by far the best IMO) but between the 3 its touch and go for the cheapest quote, depending on the car.

    Your question has been answered in the above posts so not much more to add.
     
  6. killsta

    Mobster

    Joined: 18 Oct 2002

    Posts: 3,069

    Location: Around

    Course not, they come back every month and drive your car don't they? ;)
     
  7. TripleT

    Sgarrista

    Joined: 24 Oct 2002

    Posts: 9,425

    Location: Manchester City Centre

    Nope, when they come back over here they'll want a car to drive won't they? :)
     
  8. killsta

    Mobster

    Joined: 18 Oct 2002

    Posts: 3,069

    Location: Around

    Stop copying my posts! That's twice in one thread :p
     
  9. megakid

    Wise Guy

    Joined: 6 Jun 2004

    Posts: 2,381

    Location: London

    Yeh they're only over there for 12 months of the year, all the other times they'll be wanting to drive it. :D
     
  10. TripleT

    Sgarrista

    Joined: 24 Oct 2002

    Posts: 9,425

    Location: Manchester City Centre

    Pfft I thought it before you thought it!

    Just I'm hungover as sin and my hand-eye co-ordination isn't it's best in this state :p

    I'll have you next time ;)
     
  11. Enfield

    Soldato

    Joined: 8 Nov 2003

    Posts: 7,396

    Location: Hampshire

    Lucky git. I just did a quote with my mum as an additional driver and it lowered the quote by four quid!
     
  12. M0T

    Mobster

    Joined: 23 Aug 2003

    Posts: 4,583

    Location: House

    My dad doesn't even live with me but hes reducing my quote :)

    Hes only driven my car once, when I got it so he could have a blast. To be fair some stuff happened which means I don't see him that often so he doesn't get to drive the car.
     
  13. MrMatteh

    Wise Guy

    Joined: 22 Feb 2004

    Posts: 2,418

    Location: Essex

    i tried adding my mum as a named driver on my policy, went up £150ish! thats with 1 accident, 9+NCB
     
  14. Chronos-X

    Banned

    Joined: 3 Mar 2003

    Posts: 5,001

    Location: London ;()!

    Elephants quotes are ridiculous anyway I find, so even after this "gimmick" it doesnt beat what I got from tesco.
     
  15. moss

    Soldato

    Joined: 1 Nov 2002

    Posts: 6,487

    Location: South Shields

    Admiral took at least £500 off when I added my mother, seems a win win situation, she can occasionally use my car and I get cheaper insurance.
     
  16. Chronos-X

    Banned

    Joined: 3 Mar 2003

    Posts: 5,001

    Location: London ;()!

    Again, IF the resultant price was less than what someone else offers.

    Another case in point, norwich union offer 50% off for pass plus drivers - the cost of the original cover? Over twice what I pay with tesco.

    Dont be fooled by gimmicks, but if you do find a genuine bargain then well done :)
     
  17. [TW]Fox

    Man of Honour

    Joined: 17 Oct 2002

    Posts: 155,967

    My parents reduced my policy. There, is unfortunately, a bad side to this.

    They borrow the Mondeo when they want to buy something that needs a roofrack :(
     
  18. megakid

    Wise Guy

    Joined: 6 Jun 2004

    Posts: 2,381

    Location: London

    Simple, go with my plan and not tell them :D
     
  19. ajgoodfellow

    Capodecina

    Joined: 24 Dec 2004

    Posts: 11,329

    Location: Shirley, Solihull, UK

    It depends on the insurer - Elephant & Admiral, for example, reduced the premium with my parents as named drivers but it went up with Endsleigh!

    I'd recommend Endsleigh - they were the cheapest for me (even after the reductions after adding my parents to the other policies), helpful and so far (touch wood) my claim with them is going through without a hitch
     
  20. gambitt

    Mobster

    Joined: 18 Oct 2002

    Posts: 4,379

    Same for me. I got quoted £650 on a Civic VTi (I'm 23, no NCB, no claims though). I added my mum who has many years of NCB and it got dropped to £535 :) - that was with Elephant.