Adding Parents to policy.... - Civinfo
 
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post #1 of 8 (permalink) Old 31st March 2012, 12:59 Thread Starter
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Adding Parents to policy....

So my insurance is up in 2 months & it is the first time i have been looking forward to it. (Getting an insurance which will allow mods )

So, im 24, soon 5 years driving, 5 years NCB. I got a quote today (Admiral) with 5/6 mods declared that i plan to get. I then got an identical quote with both my parents on, which resulted in a full 600 Off.

Thing is, im considering going for a performance/modification insurance company this year (Green light or someone similar) and was wondering if anyone knows if i could also save money from these insurance companies using my parents as additional drivers? (I have yet to get a quote as im 2 full months away from renewal so just thought i'd ask if anyone has had the experience?)

Also, for any insurance experts, why do adding my parents onto my policy bring it down?
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post #2 of 8 (permalink) Old 31st March 2012, 14:03
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Quote:
Originally Posted by Bizzie View Post
So my insurance is up in 2 months & it is the first time i have been looking forward to it. (Getting an insurance which will allow mods )

So, im 24, soon 5 years driving, 5 years NCB. I got a quote today (Admiral) with 5/6 mods declared that i plan to get. I then got an identical quote with both my parents on, which resulted in a full 600 Off.

Thing is, im considering going for a performance/modification insurance company this year (Green light or someone similar) and was wondering if anyone knows if i could also save money from these insurance companies using my parents as additional drivers? (I have yet to get a quote as im 2 full months away from renewal so just thought i'd ask if anyone has had the experience?)

Also, for any insurance experts, why do adding my parents onto my policy bring it down?
I have my dad and my nan on it and it brings it down by around the same i pressumer its due to the fact that the risk is divided policy holder/second/3rd so maybe 60/20/20 or something like that?!

I should imagine everywhere would lower it for having the oldies on it

My top part is an educated guess but im pretty sure thats how it works!
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post #3 of 8 (permalink) Old 31st March 2012, 14:14
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Could always get a quote anyway mate, just to "test the water"? No commital to buy!

I've had the same experience with mine until I hit 25 and then it made no difference.
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post #4 of 8 (permalink) Old 31st March 2012, 19:44
 
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Robert is absolutely right. I manage motor claim notifications for a large insurer so I'm not on the underwriting side, but the priniciple is that your parents are a much lower risk and so much less likely to claim. Essentially if they are on your policy the idea is that the much higher risk driver ie you ( no offense ) will not be behind the wheel for quite as much time. Also if you drive only a limited number of miles make sure you tell the insurer as again this should be reflected in a lower premium.
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post #5 of 8 (permalink) Old 31st March 2012, 20:22
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Some good info here, but my parents don't drive lol...

Oh well gotta stump up the 600 plus premium every year and thats with 8 NCB's, 12 yrs driving exp etc etc... Oh and my missus aged 24 lol.
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post #6 of 8 (permalink) Old 31st March 2012, 23:53 Thread Starter
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Originally Posted by napastar View Post
Robert is absolutely right. I manage motor claim notifications for a large insurer so I'm not on the underwriting side, but the priniciple is that your parents are a much lower risk and so much less likely to claim. Essentially if they are on your policy the idea is that the much higher risk driver ie you ( no offense ) will not be behind the wheel for quite as much time. Also if you drive only a limited number of miles make sure you tell the insurer as again this should be reflected in a lower premium.
No offence taken.. thanks for the info.

Unfortunately, the only other person i can put on my policy is my brother, but he is 26, 6ish NCB, not sure if he would raise the price or lower it? (Worth a try i guess..)

Also i put my mileage low anyway due to me not driving far often.

Cheers
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post #7 of 8 (permalink) Old 1st April 2012, 00:43
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Quote:
Originally Posted by Bizzie View Post
No offence taken.. thanks for the info.

Unfortunately, the only other person i can put on my policy is my brother, but he is 26, 6ish NCB, not sure if he would raise the price or lower it? (Worth a try i guess..)

Also i put my mileage low anyway due to me not driving far often.

Cheers
Hmm maybe I could put my brother on the policy when its my renewal time, he's 37 with years of driving exp with max bonuses, don't think that would count though as only main drivers ncb's are applied.
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post #8 of 8 (permalink) Old 1st April 2012, 01:40
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Quote:
Originally Posted by abs-civic View Post
Hmm maybe I could put my brother on the policy when its my renewal time, he's 37 with years of driving exp with max bonuses, don't think that would count though as only main drivers ncb's are applied.
I believe Aviva allow people to mirror no claims on two policies so possibly but he should lower it just due to age
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