ADUK Archive

Porker wrote:While it's painful, I would be inclined to put the insurance back in your name, perhaps having the OH as a named driver. This can reduce the premium compared to having just one named driver on the policy, though I'm not entirely sure what the logic of this is.

Presumably the claims history shows that people who are part of a "couple" to the extent that they are prepared to put their other half on their policy as a named driver represent a better risk than those who aren't. I've heard it said that a single man will often get a reduction in premium even if he adds a female with very little driving experience to his policy. Everything insurers do is based on claims history, not value judgments.

My daughter & son both have their mother on their insurances as a named driver.This has reduced their premiums, but the mention of me as a named driver increases the premium This is irksome, as it means that I don't get to drive my daughters MINI COOPER S.

They have both insured their cars in their own names from the start. This has benefitted them in that they have now built up their own NCB, although it was more expensive to start with.

I'm sure insurance companies smell a rat when a family aquire another car, with mum insuring it, and one of the children as a named driver.

Nigel ADI
IAM observer

It's also true that a young driver naming themselves as 'main' will get a lower premium if they put a parent as 'named'...weird or what and perfectly legal.

Well done Sonia for sorting yours out...glad it wasn't so bad as you first feared...insurance can be an expensive nightmare esp. for the young and inexperienced. I suppose a good broker comes into their own for anyone who isn't middle-aged and a good risk.

Anyone know how the 'typcial' premium is made up...i.e what proportion covers damage while driving, theft, 3rd party claims, personal accident etc? I know death/injury claims can be £ms but is this as significant as the much higher chance of a bump up the rear (for instance)?

martine wrote:Anyone know how the 'typcial' premium is made up...i.e what proportion covers damage while driving, theft, 3rd party claims, personal accident etc? I know death/injury claims can be £ms but is this as significant as the much higher chance of a bump up the rear (for instance)?

A lot is related to WHERE you live

martine wrote:
Anyone know how the 'typcial' premium is made up...i.e what proportion covers damage while driving, theft, 3rd party claims, personal accident etc? I know death/injury claims can be £ms but is this as significant as the much higher chance of a bump up the rear (for instance)?

There is no such think as a "typical" premium, every one is calculated individually based on the available statistical data about the risk factors that apply to the use of the vehicle (for a much as that can be determined from the information given by the policyholder)

Premiums are not determined by the perceived risk of a claim being made (or a particular type of claim), but by average value of all claims likely to be made on a given group of policies which are subject to the same risk factors. For example if in one group of 10 policies one £1,000,000 third party claim is expected this will result in a higher premium than for another group where 5 £5,000 own vehicle claims are expected.

For a novice/young male working in the entertainment industry, the high fatality rates means that third party risks form a very high proportion of the premium, and different vehicles determine the premium as a result of how they are perceived to suggest that a given driver is a higher or lower risk. On the other hand for an unemployed middle aged female (where single vehicle own damage claims are disproportionately high) it is the repair costs of their vehicle that drive the premium to the greatest extent.

martine wrote:Well done Sonia for sorting yours out...glad it wasn't so bad as you first feared...insurance can be an expensive nightmare esp. for the young and inexperienced. I suppose a good broker comes into their own for anyone who isn't middle-aged and a good risk.

Im really glad I sorted my insurance out and it actually only took one phone call to do it. One thing I will add though in just posting that message on here ive learnt sooo much about insurance in just 24 hours