Insurance head ache

[annie.999]

Hi everyone, I'm new to this forum but I'm desperate for some advice from anyone out there who can help me.

Here goes !!!

 

My daughter passed her test last June and in the first month got 3 pts for speeding SP50.

I am getting a motability car on Friday and my daughter wants to have my current car Mazda 6 that is on finance and has 18 months left on it.

The finance company won't let me change her on the V5 though say it's ok for her to drive if she's insured.

Her insurance on her megane is due mid June but they have quoted her with the change of car £6500 yes that's right you did have to look twice £6.5k.

Is there any cheaper option for her to drive my car for next 18 months, also how do I stand with cancelling my car insurance, does that tally ok with DVLA if I don't insure it myself.

 

Please advise as I'm so confused

Thanks

Mum with a head ache lol

[rebel11]

Hi annie

 

Welcome to CAG

 

The guys will be happy to advise as soon as they are available.

 

Please let us know how your problem has been resolved, it could help fellow Caggers.

 

Thread has been moved to the correct forum.

[raydetinu]

Is sh planning to sell teh megane then?

you will have to shop around for alternative qutes for the mazda, however you will have to declare that although you own it your daughter will be the main driver and her points etc.

Some companies apply an excess for young drivers ( under 21 or 25 ) and if under one year with a full licence.

Always tell the truth on forms or seeking insurance over the phone as any indiscreton they will not payout.

As you are no doubt aware young drivers are the biggest risk area, hence the large premiums to cover possible claims from TP damage.

[unclebulgaria67]

Mazda 6 for a young driver, with one speeding conviction = very expensive quotes.

 

I think I would look at options, to trade the car (subject to approval of finance company) for something that would be more suitable or ask the finance company about the costs of ending the finance early.

[annie.999]

Is sh planning to sell teh megane then?

you will have to shop around for alternative qutes for the mazda, however you will have to declare that although you own it your daughter will be the main driver and her points etc.

Some companies apply an excess for young drivers ( under 21 or 25 ) and if under one year with a full licence.

Always tell the truth on forms or seeking insurance over the phone as any indiscreton they will not payout.

As you are no doubt aware young drivers are the biggest risk area, hence the large premiums to cover possible claims from TP damage.

 

At the moment she is using my car on her own car insurance obviously only TP, my problem is the next 18 months, do I have to keep the car insured myself, as I'm on the V5 and all relevent documents, or can I cancel my insurance if she manages to get a cheaper quote, also mid June she would have passed her test a year and she is 27.

If she does keep her old car and re-insures with a cheaper company and continues to drive my car on a TP basis will there be any issues ref. police ANPR with me being the owner and her driving ?

Sorry about bombarding you with questions, but I desperately need to be clear for myself and my daughter.

Thanks

[raydetinu]

Why not consult an insurance broker, such as Chriss Knott and discuss options with them to sort out cotss etc. on the different scenarios.

should not be a problem with her driving your car providing you maintain your insurance on it and she always carries her insurance certificate with her to confirm she is covered to drive your car on her policy.

[annie.999]

Thanks for all your help

[Mwynci]

You have to be careful with the TP cover (Driving Other Cars) as often the cover does not cover anyone who is under 25 and sometimes they need to have held a licence for 2 years. Also in the print will be the stipulation that the vehicle is insured elsewhere. A cert usually has to exist.

The broker experienced posters (Unclebulgaria67 ?? ) will have a better idea about this than me.

[unclebulgaria67]

Thanks for all your help

 

I would seriously suggest that your daughter speaks to her Insurers about her using the 'driving other cars' (DOC) extension of her policy to drive your car on a regular basis. See if they are happy about this and that she would be covered for third party risks.

 

I only say this, as some Insurers do not like the DOC being used in this way and I don't think she would want to run the risk of her being liable for third party claims.

 

The other issue, is whether your finance company would be happy that she was not comprehensively covered when driving your car. If for sake of argument she crashed the car and it was her fault. You would have the remaining finance still to pay and your daughter may have a problem with the DOC cover, if her Insurers refuse to cover the third party risk.

[raydetinu]

Certainly if your daughter crashes yuor car, and it was her fault, your car will not be covered and you would have to foot the repair costs or accept the total loss if written off. And you would still owe the finance co.

A risk too far IMO. Thats whats insurance is for.

[annie.999]

Thanks so much everyone for all of your advice, I think I finally have it sorted (unless anyone can see a loophole )after speaking to a lovely lady at my local branch of Swintons. My current insurance won't entertain putting my daughter on my ins, so will cancel that & pay cancellation fee.

She advised me to take out a complete new policy for myself and my daughter as an named driver fully comp, just till the finance is finished then she can get her own insurance and have her name on the V5 and............ at a cost of only £350 for the year with my daughters fine and 3 points.

So "hopefully" happy days

Once again thanks for all your help you've all been great x

[Mwynci]

hmmmmm, if you take this option you make sure you cover your backside, make sure you have evidence to show this has been arranged by swintons in their full know of your facts, in the wrong way this could be percieved as fronting. Questions to ask, who is the main user of the vehicle, if it's your daughter, but you are saying it's you, then potentially there is trouble if a claim gets made.

[raydetinu]

Agree, have you told them you have another vehicle? and you are the main driver of that?

If they suspect your daughter will be the main user of the mazda, that could lead to problems down the road.

Its a risk, and you may get away with it, but you should be aware of what you are doing.

[Mystic-lady]

Sadly from personal experience what ever you decide do not under any circumstance choose Quote Me Happy they may appear very cheap but prove very expensive should an accident occur ... steer clear!!!M

 

 

 

 

 

Hi everyone, I'm new to this forum but I'm desperate for some advice from anyone out there who can help me.

Here goes !!!

 

My daughter passed her test last June and in the first month got 3 pts for speeding SP50.

I am getting a motability car on Friday and my daughter wants to have my current car Mazda 6 that is on finance and has 18 months left on it.

The finance company won't let me change her on the V5 though say it's ok for her to drive if she's insured.

Her insurance on her megane is due mid June but they have quoted her with the change of car £6500 yes that's right you did have to look twice £6.5k.

Is there any cheaper option for her to drive my car for next 18 months, also how do I stand with cancelling my car insurance, does that tally ok with DVLA if I don't insure it myself.

 

Please advise as I'm so confused

Thanks

Mum with a head ache lol

[raydetinu]

Is that relevant!

if you have had a bad experience with them, then post a seperate thread with the details, we may have been able to help!

[Data Mashups]

If your daughter is going to be the main user of the vehicle then you can't just add her as a "named driver" to a policy in your name: this is called "fronting" and is a form of insurance fraud: you are obtaining cheaper insurance by misrepresenting the facts. The insurance proposal will ask you who is the main user - if you truthfully state that the main user is your daughter, the policy will be rated on her. If you lie, and say you are the main user then you may be committing a crime. Insurers are increasingly aware of this practice for young drivers and in the event of a claim, may void the policy, refuse to pay claims, prosecute for fraud etc. Sorry, not trying to scare you but I have seen all this happen. Sometimes, they will just charge additional premium based on the extra that should have been paid but if you have deliberately misrepresented the facts to obtain a cheaper premium, they are likely to be less forgiving.