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Reducing Car Insurance With Additional Driver?


derekyau
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i haven`t had s*x in a few days, so i`m a wee bit tense......................... :D

but you`re right about the meldrew accusation, i`m 34 years old and wound up tighter than a really wound up tight thing...........the world is full of feckers like insurance companies unfortunately :D

:lol::lol: You need a massage parlour to loosen you up !

househusband+kids+lexus+wife=no spare cash...........

and i don`t really want to increase the lean period should i come home with a smile on my face and a wistful look in my eyes 'cos the wife would probably guess............!!!!! :D

now, back to the paul mckenna diet because i`m hungry

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Surely you can't just go out and name a driver who isn't going to be driving your car.

But on the other hand, how can they prove it ?

Ive put the misus on the policy, if there aint a emergency she aint going to drive it, but the fact is she is on the policy insured to use it if the need be, my policy being cheaper with her added has nothing to do with it :whistling::innocent: .....maybe thats why they ask who will be the main driver, so that you cant put yourself as a name driver and someone else as the policy holder like your long lost aunt who will probably never sit in the car let alone drive it :P

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It's quite simple really. Market research has shown that the majority of customers are held back by inertia, and will not switch insurers, even if the renewal bill goes up each year. So, they realise that customer loyalty is actually down to most consumers not wanting to call up 15 different insurers each year for every insurance policy they have, so they make their life easy and stick with the same company.

Right, now the sales team usually have aggressive targets to meet, hence the new customer deal is always the best deal, and the existing customers usually subsidise the deals that new customers are offered. Plus, going on the web (even for renewal) may save you some cash, as it's viewed as a cheaper way of recruiting customers, and so prices are lower than via the phone.

I worked in marketing for five years, and the most switched on customers were those that literally switched each year to the provider offering the cheapest acquisition offer. You work hard to keep up to date with the offers, but the payback is immense. Try it for all your deals (breakdown, car, home, mobile phone, etc.)!

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It's quite simple really. Market research has shown that the majority of customers are held back by inertia, and will not switch insurers, even if the renewal bill goes up each year. So, they realise that customer loyalty is actually down to most consumers not wanting to call up 15 different insurers each year for every insurance policy they have, so they make their life easy and stick with the same company.

Right, now the sales team usually have aggressive targets to meet, hence the new customer deal is always the best deal, and the existing customers usually subsidise the deals that new customers are offered. Plus, going on the web (even for renewal) may save you some cash, as it's viewed as a cheaper way of recruiting customers, and so prices are lower than via the phone.

I worked in marketing for five years, and the most switched on customers were those that literally switched each year to the provider offering the cheapest acquisition offer. You work hard to keep up to date with the offers, but the payback is immense. Try it for all your deals (breakdown, car, home, mobile phone, etc.)!

Hence the reason why customer loyalty/cost to change+retention etc is such a big area of marketing then?

It is a funny paradox, but it is a legacy of preinternet days where a fone call was all the ammo consumers had, and when tesco or your local chip shop were not offering insurance!

It does make you wonder how much the inertia has changed, given the advent of comparison sites and more information/more providers and whether the insurance market is just typically slow to react positively.

Having said that, there are times when i can waste an entire day shopping for the best price, only to miss out on cost savings better met by just spending a little more in the first instance and using my time in other avenues.

A downside to having this modern cornucopia of choice in everything is that you have to suddenly research everything !!!

It makes me wonder what i would be doing now had the t'internetty not been invented :blink:

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Most insurance companies will reduce the premium if you add an additional driver to your policy. Usually, it becomes cheaper if a <40 year old male is the main driver, and you add a female as the named driver. Since most insurance companies have found that a woman has a lower chance of a crash than a man, the risk for that policy is lowered, if a woman might be doing some of the driving. Not always, but most of the time this will work.

Also, having additional drivers may lower risk, since for long journeys, there will be multiple drivers available to share the load, i.e. less tiring for main driver.

When taking out a policy, ALWAYS get a quote with main driver only, and named drivers too, to ascertain any price difference.

I was waiting for some people's explanations as to why (they think) the premiums go down when adding certain driver(s).

Interesting point wrt multiple drivers on long journey's.

On the other hand, surely with 2 people on the policy, there is potentially (lets say) twice the amount of time the car might be on the road... Even if the actually car-on-road time goes up by 50%, its still more risk to the insurance company... :yawn:

Costs me more to add my girlfriend of better driving history (had her license longer than me).

Gonna find out about adding my Mum when I get a chance... :shifty:

D.

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The insurance companies consider a second driver (especially a relative or spouse with the same surname) as a sign of stability or responsibility, ie not some turbo nutter chav boy racer, and therefore more likely to present a lower risk to insure.

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The insurance companies consider a second driver (especially a relative or spouse with the same surname) as a sign of stability or responsibility, ie not some turbo nutter chav boy racer, and therefore more likely to present a lower risk to insure.

Mr M is spot on !!.... That's the reason !!

The Ed

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The insurance companies consider a second driver (especially a relative or spouse with the same surname) as a sign of stability or responsibility, ie not some turbo nutter chav boy racer, and therefore more likely to present a lower risk to insure.

Mr M is spot on !!.... That's the reason !!

The Ed

Another good reason Mike. Fair point, but as some others have "suggested", they add another "responsible/stable" second driver simply to save on insurance cost. :whistling:

Wonder if Insurance companies are aware of this/will try to refuse a claim if your 2nd driver doesn't actually drive the car... people have said "how can they prove it" kinda thing anyway... :huh:

D.

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Most insurance companies will reduce the premium if you add an additional driver to your policy. Usually, it becomes cheaper if a <40 year old male is the main driver, and you add a female as the named driver. Since most insurance companies have found that a woman has a lower chance of a crash than a man, the risk for that policy is lowered, if a woman might be doing some of the driving. Not always, but most of the time this will work.

Also, having additional drivers may lower risk, since for long journeys, there will be multiple drivers available to share the load, i.e. less tiring for main driver.

When taking out a policy, ALWAYS get a quote with main driver only, and named drivers too, to ascertain any price difference.

I was waiting for some people's explanations as to why (they think) the premiums go down when adding certain driver(s).

Interesting point wrt multiple drivers on long journey's.

On the other hand, surely with 2 people on the policy, there is potentially (lets say) twice the amount of time the car might be on the road... Even if the actually car-on-road time goes up by 50%, its still more risk to the insurance company... :yawn:

Costs me more to add my girlfriend of better driving history (had her license longer than me).

Gonna find out about adding my Mum when I get a chance... :shifty:

D.

Right, it would appear there is no change in premium should I add my Mum to my policy...

Thing is, I rang the broker that I got my insurance through (A-plan). The actual insurance company is Equity Redstar (part of Lloyds for those that haven't heard of them).

Wonder if there was a premium drop, but my broker decided to pocket it themselves... :yawn: :duh: :blink:

D.

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We had a weird experience with the NCB recently.

I had full (and protected) NCB on the IS200.. when I bought the RX400h they said that the NCB applies to the CAR not the driver... so changed that particular policy to the RX and had to take out a new policy for the IS200. At first they were saying there'd be no no claims on the IS200. I inquired about putting Caroline (my other half) as the policy-holder for the IS .. she has no no-claims though, and since she has been driving about 10 years less than me, the premium would have been slightly more.

Afterwards, they suggested putting the policy in MY name, but naming her as the PRIMARY driver, for which they'd offer an introductory offer of 10%, plus a bonus of 30% NCB (and if there are no claims in the first year of that policy, they would up it to FULL NCB which can be protected).

I was like ... HUH?!?

In the end, that's the route we took, so have full protected NCB for the RX and 30% NCB for the IS200 (due to be full protected next year if Caroline doesn't prang my IS in the meantime...)

Whatever happened to the days when it was simple to add additional vehicles and drivers onto a SINGLE policy without bureaucratic headaches?!?

L.

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