1st Car

[JMallows]

I have a 1.3, in my first year it should have cost me ?1800, which was the cheapest i could find. On my mums name it went down to about ?550......

[Hattie]

If you insure your own car in your mum or dad's name it could get awkward in the event of a claim. If you are the main driver they will not be amused if they find out.

Insurance companies are not completely dumb and if your mum/dad already have their own car(s) insured in their own name and you are the purchaser and registered keeper of the new car that you have also insured in their name - they are likely to smell a rat. Somewhere in the small print will lurk the sub-clause that gets them out of paying up if you have a bump.

If you get offered a good deal in your own name, start reading the policy from back to front - nasty stuff in contracts is never on the first couple of pages. Offering to pay the highest excess possible can get your quote down a bit - better that ?200 or so is sitting in your bank (and hopefully staying there) than part of your insurance payment and never being seen again.

If you are gong to save up for a bit, why not ring some companies and see if they will offer you a discount for pass plus and if so, how much. That way you can work out if it is worth doing or not.   

[adam3]

If you insure your own car in your mum or dad's name it could get awkward in the event of a claim. If you are the main driver they will not be amused if they find out.

Insurance companies are not completely dumb and if your mum/dad already have their own car(s) insured in their own name and you are the purchaser and registered keeper of the new car that you have also insured in their name - they are likely to smell a rat. Somewhere in the small print will lurk the sub-clause that gets them out of paying up if you have a bump.

If you get offered a good deal in your own name, start reading the policy from back to front - nasty stuff in contracts is never on the first couple of pages. Offering to pay the highest excess possible can get your quote down a bit - better that ?200 or so is sitting in your bank (and hopefully staying there) than part of your insurance payment and never being seen again.

If you are gong to save up for a bit, why not ring some companies and see if they will offer you a discount for pass plus and if so, how much. That way you can work out if it is worth doing or not.

This seems to make the most sense, speaking to other people as well as your idea , I'm thinkin take the pass plus then get something like a 1 litre polo insured in my name and offer to pay the highest excess possible, do this for a couple of years then get the GTI. Better to be patient than have an empty pocket due to insurance. Better to be legit and above board.
Adam

[Mr Blue]

You could fork out a lump sum but just say the car is involved in a bump within weeks of taking out the policy?

monthly insurance payments could be the cheaper option.

What you peeps think? Could it work?

[topher]

You could fork out a lump sum but just say the car is involved in a bump within weeks of taking out the policy?

monthly insurance payments could be the cheaper option.

What you peeps think? Could it work?

Dont see the logic there ? Even if you pay monthly, you aren't going to stop paying after you have an accident surely. Also if you pay a lump sum and cancel the policy you get the remainder of the term refunded. Paying in one go is cheaper in all cases, since you don't get charged the extra as with a monthly payment scheme.

[Hattie]

I actually meant the extra bit of excess sitting in your bank account - the point being if you don't make a claim, it doesn't get spent. Some companies reduce your quote if you offer a big excess, some don't.

Monthly insurance is useful if you are short of cash but some policies require you to pay up the remainder immediately if you claim. ALWAYS read the small print.