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Rockwiz

Car insurance

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rjflc69

In reference to having the car registered in your name too I received some interesting information from QLD Transport regarding this. We had the car registered in both mine and my sons name (when he was under 18), he was the first listed owner.  Apparently if they get a speeding fine and they need to nominate another driver a person under 18 cannot do this (under 18 cannot sign stat decs) so he would be left with the fine and demerit points even if for example I was driving the car. He has now sold this car and purchased one just in his name (he was over 18 then) so unsure what the requirements were for removing my name (if we needed to). 

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Rockwiz

So does anyone know, if DS registers the car in his name then he must insure it in his name also? Or can he register it in his name but we can insure it in our name? I don't think the later would be likely as it doesn't seem logical.

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~Kay~

All insurance companies are different but I found that having more listed drivers actually reduces the premium, as long as their risk profile doesn't increase the insurance.

When I removed my XH from my insurance, my premium actually increased even though he was male and younger than me.

I found out it's because the number of drivers is a rating factor and 2 was considered better than 1. 

So in most circumstances, a couple will get cheaper insurance by having both of their names on the policy as regular drivers.

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born.a.girl
2 minutes ago, ~Kay~ said:

All insurance companies are different but I found that having more listed drivers actually reduces the premium, as long as their risk profile doesn't increase the insurance.

When I removed my XH from my insurance, my premium actually increased even though he was male and younger than me.

I found out it's because the number of drivers is a rating factor and 2 was considered better than 1. 

So in most circumstances, a couple will get cheaper insurance by having both of their names on the policy as regular drivers.

Gosh that's interesting.  I wonder if they feel that people are a bit more careful in a shared car?

You'd assume a car with two drivers would be on the road a lot more than a car with one driver.

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jayskette

welcome to driving life to your DS. if someone smashed his car to the point it is undriveable, can he afford to still go to work and uni etc using other means? if not, get full comprehensive insurance. also the quoted price is reasonable, some low socioeconomic areas can get around 5k, more if the car is modified

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*bucket*
1 hour ago, Rockwiz said:

So does anyone know, if DS registers the car in his name then he must insure it in his name also? Or can he register it in his name but we can insure it in our name? I don't think the later would be likely as it doesn't seem logical.

DDs car is registered in her name but insured in DHs, so it is possible. Our insurance policies don't require you to name drivers. Anyone is covered but with differing excesses depending on age, experience and history. We changed away from AAMI last year as RACV offered more for less. We had been with AAMI for many, many years.

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YodaTheWrinkledOne
On 22/06/2020 at 6:50 AM, nom_de_plume said:

The rule in our household was we couldn't get a car unless we could afford to pay for the upkeep including petrol, maintenance, rego and insurance. Consequently I didn't have one until I was almost 20.

this was us as well. I was 22 when I got my first car.

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YodaTheWrinkledOne
On 22/06/2020 at 4:09 PM, born.a.girl said:

Gosh that's interesting.  I wonder if they feel that people are a bit more careful in a shared car?

You'd assume a car with two drivers would be on the road a lot more than a car with one driver.

Maybe they figure you are more likely to share driving = less road fatigue = less accidents?

On 22/06/2020 at 3:18 PM, Rockwiz said:

So does anyone know, if DS registers the car in his name then he must insure it in his name also? Or can he register it in his name but we can insure it in our name? I don't think the later would be likely as it doesn't seem logical.

I have never been asked about whose name the car is registered under, not with optional/comprehensive insurance. I don't think that matters. 

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born.a.girl
10 hours ago, YodaTheWrinkledOne said:

Maybe they figure you are more likely to share driving = less road fatigue = less accidents?

 

You'd think so, but it's the opposite with hiring. Not sure about Australia but europe and Canada an extra driver nearly doubled the cost.  As a result I did all the driving (because he's better at navigating).

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Bam1

We do pay the difference between 3rd party and comprehensive for our DS’s insurance (in his dad’s name but still higher due to under 25 driver) - we felt it important to ensure he had the extra while not an experienced driver. He is expected to do a fair bit of pickups/dropoffs of younger siblings to earn it.

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DogsLife

I am not sure if this is in NSW only but NRMA are advertising $10 per month third party insurance.  My DD16 is learning in her grandmothers car, insured in my name and my  husband and her listed as a driver - we currently pay $45 per month for third party insurance.  

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born.a.girl
11 minutes ago, DogsLife said:

I am not sure if this is in NSW only but NRMA are advertising $10 per month third party insurance.  My DD16 is learning in her grandmothers car, insured in my name and my  husband and her listed as a driver - we currently pay $45 per month for third party insurance.  

Yikes, that's expensive for just third party, isn't it?

 

My last renewal was $884, for comprehensive, for a two year old car that cost $35k, with Blue Zebra.   I chose not to add excess free windscreen replacement for an extra $90.

Excess was good, too, $500, PLUS reduced to $300 if you chose their repairer.

Got hit my Melbourne's hail storm earlier in the year and it was $13k of damage, and they were excellent.

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DogsLife
14 minutes ago, born.a.girl said:

Yikes, that's expensive for just third party, isn't it?

 

My last renewal was $884, for comprehensive, for a two year old car that cost $35k, with Blue Zebra.   I chose not to add excess free windscreen replacement for an extra $90.

Excess was good, too, $500, PLUS reduced to $300 if you chose their repairer.

Got hit my Melbourne's hail storm earlier in the year and it was $13k of damage, and they were excellent.

I thought it was expensive too.  I pay just below that for full comprehensive insurance on my 6 year old car.  I too got stuck in a hail storm in NSW of December 2108 and had my car written off.  Can't say my insurer was excellent!

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blimkybill

I have taken a different approach with my three teens (now adults so have been driving for years now). They have always had to pay their own way with cars, but I have suggested/encouraged buying cheaper old cars (they have bought cars ranging from $1800 to $5000), and only purchasing third party insurance. Of course that runs the risk of getting the car written off in an accident however they were only risking a few thousand as the car was cheap in the first place. And if the loss of a car would have really stuffed their ability to get to work, I would have loaned them a few thousand for a replacement which they could pay off to me over time.  It has served them well as nothing has ever happened to the cars and paying $2K for insurance was a ridiculous idea for a car worth not much more than that.

But then I am a fan of second hand cars and have never bought a new car in my life.  

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born.a.girl
22 minutes ago, DogsLife said:

I thought it was expensive too.  I pay just below that for full comprehensive insurance on my 6 year old car.  I too got stuck in a hail storm in NSW of December 2108 and had my car written off.  Can't say my insurer was excellent!

I must admit when the hail hit, I was wondering if the broker's recommendation to move to a much cheaper option was wise.

I've not had hail damage before, so perhaps this is universal, but I didn't even need to fill in a claim form, as it was a 'known event'.

I got text messages from them, whereby I could select options and be given all the details of 1) insurer, 2) assessor and 3) repairer, and got updates on the repairs.  Again, I've not had a claim for years, so perhaps this is universal now.

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aquarium2
On 22/06/2020 at 3:44 PM, ~Kay~ said:

Car insurance fronting is illegal and is considered to be insurance fraud, you can read about it here or there are many other references online. 

https://www.aami.com.au/aami-informed/on-the-road/insuring-a-car/what-is-car-insurance-fronting.html

 

This is so important. 

 

If you falsely declare information to insurers  - like what is being suggested in this thread, then you run the risk of having an insurance claim denied and rightly so. 

People wonder why insurance costs are high but don't seem to relate it back to their own behaviour.  By lying you are just pushing the cost onto someone else. 

 

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born.a.girl
22 minutes ago, aquarium2 said:

This is so important. 

 

If you falsely declare information to insurers  - like what is being suggested in this thread, then you run the risk of having an insurance claim denied and rightly so. 

People wonder why insurance costs are high but don't seem to relate it back to their own behaviour.  By lying you are just pushing the cost onto someone else. 

 

Some insurance companies actually offer policies which allow a driver to not be nominated, BUT they add a significant further excess for an undeclared P plater.

This was actually set out to us as an option of the several we were choosing from, by the broker.

I've lost track of which insurance company it was now, but there's not a snowflake's hope in hell that our broker, or we, would have considered taking up an option that wasn't valid for that insurance company.

Perhaps only some offer it?

We didn't choose that in the end.

 

I'm not talking about the ones which specify this as perhaps voiding your insurance, I read the PDFs and would have noticed that.

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JuicyLife10
Posted (edited)
On 22/06/2020 at 4:09 PM, born.a.girl said:

Gosh that's interesting.  I wonder if they feel that people are a bit more careful in a shared car?

You'd assume a car with two drivers would be on the road a lot more than a car with one driver.

We added my older parents to our (comprehensive) insurance policy along with an L player, and then a P plater, and it lowered our premiums (compared to just adding the teenager and not the parents, and yes, this was done for genuine reasons, they all drive the car). As named ppl, the excess would be lower if a claim was made than someone not named.  

Edited by JuicyLife10
Clarity
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Rockwiz
On 25/06/2020 at 7:46 PM, YodaTheWrinkledOne said:

this was us as well. I was 22 when I got my first car.

I agree but our situation is not suitable. We only have the one car in our family. I know many families have two as both parents drive - not all families of cause but many. I can't drive due to a visual impairment. DH needs the car for work so it would not be around much for DS to use. If we did have a seond car this would be ideal as we could make it the family car and DS and his sister (when she gets her licence) could use it and contribute to the cost of the insurance.

As this is not possible DS will need his own car or he can just use the buses. DS has saved really well for a car with his casual job. When he goes to Uni next year (he hopes), it will be a 20-25 minute commute. He can take a bus which will be painful timetable wise or he can buy himself a 2nd hand car. He's well aware of the cost of the insurance and everything. He's done a lot of research and he knows how much rego and comprehensive insurance will cost him. He knows his options are either buy a cheaper less reliable car and pay third party insurance, fire and theft only, or buy a more recent reliable used car and find the money to pay for the comprehensive insurance.  It basically comes down to that. By posting on here I was just trying to get an idea of other families experiences with their teens and whether they bought their first car and the type of insurancce they opted for. Most of DS's friends seen to have the typical family experience. Family has two cars - they get to drive Mum's or the older / smaller one. As I said we only have the one.

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