Named Driver Insurance - Useful For Young Drivers?
Motorists who are new to driving or under the age of 21 often face the highest car insurance premiums. As a result, the first years as a motorist can be rather expensive! One option to consider if you fall into this bracket is named driver insurance.
Adding a more experienced motorist to your policy means you can take advantage of their no-claims discount. This will reduce your insurance premiums ten-fold.
Getting Named Driver Insurance
There are two ways you can go about obtaining named driver insurance. The first method is to add an experience driver to your own policy but you remain the main driver. The advantage to this method is that you will make a saving but will also manage to accrue to your own no-claims discount.
If you are looking to add someone to your own policy, don't just look at how many years no-claims they have. You should also consider their age, occupation and gender. Adding a female will generally result in cheaper insurance. Professionals over the age of 30 will also reduce your insurance premiums.
The second method is to be a named driver on someone else's. This is the cheaper option in the short-term but means that you won?t be building your own no-claims discount. Having said that, there are a few insurance companies that will allow additional named drivers the ability to build a no-claims bonus but generally speaking, these can only be redeemed with the original insurance company.
Be Honest!
It is important to remember that you must not allow an experienced driver to pose as the main driver on an insured vehicle if you are in fact the main driver. This is known as fronting in the insurance world, and although it would result in cheaper insurance, it is illegal and most insurers won't pay out in the event of a claim. Insurance companies and loss adjustors can easily spot fronted policies because the name of the vehicles registered keeper doesn?t match the name of the main driver.
Related Articles:
- Learner Driver Car Insurance
- Insuring Your First Car
- Car Insurance for Students
- New Driver Insurance
- Tips for Cheaper Teenager Car Insurance
- Young Driver Insurance
This site is for information only and cannot offer insurance advice for your particular situation.
Consult with an FSA authorised insurance advisor if unsure on any topics related to car insurance.
