I am 25 and in the process of buying my 1st car.
I've held my full license for 2 years and have been insured on my parents car for the entire 2 years. No claims or penalty points.
The cheapest quote I've had for my own insurance on this new car is circa €980.
It works out much cheaper to insure the new car in one of my parents name and continue as a named driver on both cars.
I wonder if I am better off in the long run to insure it in my name now, so that I'm building my own no claims bonus. If I do go down this route, is it likely that my insurance cost will dramatically decrease next year when I go to renew?
Would it be more sensible to insure it in my Dad's name even though I own the car? He has named driving experience, not full no claims bonus so the cheapest if we go this route is circa €750.
Is it legal for me to own the car but for the insurance to be in his name?
I've held my full license for 2 years and have been insured on my parents car for the entire 2 years. No claims or penalty points.
The cheapest quote I've had for my own insurance on this new car is circa €980.
It works out much cheaper to insure the new car in one of my parents name and continue as a named driver on both cars.
I wonder if I am better off in the long run to insure it in my name now, so that I'm building my own no claims bonus. If I do go down this route, is it likely that my insurance cost will dramatically decrease next year when I go to renew?
Would it be more sensible to insure it in my Dad's name even though I own the car? He has named driving experience, not full no claims bonus so the cheapest if we go this route is circa €750.
Is it legal for me to own the car but for the insurance to be in his name?