2006-10-31 07:39:34 · 19 answers · asked by ballochmac 1 in Business & Finance ➔ Insurance
Well it would be cheaper to try to get on your mom's insurance because you could probably get some discounts (like if she has both homeowner's and auto with the same company).
However, while it will be cheaper for you. It would be wise for her to encourage you to get your own insurance because of what's at risk.
If you are on her insurance and you get into an accident and hurt somebody really badly (or god forbid kill them)....they will likely hire a lawyer to see how much money they can get out of your and/or your mother.
If you have insurance on your own....they can go after you, your insurance proceeds and all your assets (car, money, house, etc.), but they won't be able to go after your mom's stuff.
If you are included on your mom's insurance, they will go after BOTH your stuff and your mom's stuff.
Which is why....if you mom puts you on her insurance....she really needs to take out a big personal umbrella liability policy to help pay extra in case you get in an accidedent....the more liability insurance you have.....the less likely you'll lose some of your personal assets in case of an accident.
To start the process....ask your mom what she feels is best.
If she's okay with you being on her insurance.....call her agent.
If not, call some agents on your own and explain your situation.
2006-10-31 07:45:13 · answer #1 · answered by markmywordz 5 · 0⤊ 0⤋
As a motor underwriter, I would strongly suggest going alone. Normally, in fact very likely, the Insurer will re-rate the policy on the youngest driver namely you, which will push the price(or premium) up to where you would normally expect to pay, even if your mom has no claims bonus of her own.
This form of insurance is called "fronting", basically your mother is a front for you to drive the vehicle, however, your mother will pay the cost in the long run. If you have any form of crash the Insurers will check to see if you are the main user and if so, which is highly likely either void the policy or failing that, if they do pay the claim they will seek a recovery from you as part of the claim.
In short, avoid going on your mother's insurance at all costs. Go it alone, it will make sense in the long run when you have a performance car aged 24/25 etc and you've built up the NCD to insure it. You WILL thank me for that, honest!
2006-10-31 16:08:11 · answer #2 · answered by kangol200667 1 · 0⤊ 0⤋
I have been a named driver on someone Else's insurance since I passed my test. 10 years later I got my own insurance and my 10 years careful driving accounted for nothing. I would get your own it will save you money in the long run as well because it will get cheaper every year if you have no claims bonus. I think direct line though offers no claims bonus now to named drivers... worth looking into if you can't afford to go it alone. Happy driving!
2006-10-31 15:45:59 · answer #3 · answered by Lovewilltearusapart 5 · 0⤊ 0⤋
If you have got your own car, buy your own car insurance, ive recently done it myself, i went with Norwich union coz it was quite cheap compared to other insurers, but driving is an expensive hobby so be prepaired to pay out at least £40 a month for insurance, £130 a year for tax & £MOT aswell as petrol! Its great to be free though isnt it!! Good luck & keep motoring!! XX
2006-10-31 15:50:50 · answer #4 · answered by Kerry A 3 · 0⤊ 0⤋
Does best mean cheapest??
If you were my kid, I'd call my agent, and see if I could get you a spin-off policy from my own carrier. You'll have the most luck with that if you buy a car between 4 and 8 years old, and pay cash for it, and it's not a fancy car.
2006-10-31 16:03:16 · answer #5 · answered by Anonymous 7 · 0⤊ 0⤋
Assuming your are in the UK - get your own Inusrance.
Try Tesco's, they are one of the most competitive for Young Drivers - www.tesco.com
Don't go under your mum's Insurance, unless you advise the Insurers that you are the main user etc (which will result in a higher premium anyway..) - If you do not tell them, in the event of an accident they can void the policy for 'non disclosure of material information', which means you will not get a penny.
Good luck.
2006-11-01 04:55:23 · answer #6 · answered by canarian.frank 2 · 0⤊ 0⤋
Go with your own. may seem alot at 1st but will work out cheaper in long run, And if you ever want a nice car or a sports car you are gonna need a few years no claims behind you
2006-10-31 15:50:27 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Well at 21 you should have insurance on your own but, its gonna be cheaper if you are on your moms for awhile, because you just got your license. What took you so long?
2006-10-31 15:43:00 · answer #8 · answered by wesgirl 2 · 0⤊ 0⤋
Your mothers would be cheaper.
But at 21 I say grow up and get your own.
2006-10-31 16:26:23 · answer #9 · answered by Barrett G 6 · 0⤊ 0⤋
The broker is completley correct. Your policy will be invalid.
Unless of course the car that you are driving is actually the only car in the family and it is your mums car, then you would only be a named driver
2006-11-04 05:40:55 · answer #10 · answered by CW 2 · 0⤊ 0⤋