I have two car insurance policies with two different companies and 10+ years no claims. My wife is on both of them as named drivers. My son now wants to be on one of the insurances. Which way would be cheaper to get my son insured - to create a new policy and have my wife (she has no claims bonus) as the main driver and my son a named driver or for me to carry on as the main driver and have my wife and son as named drivers as i hold all the no claims bonuses.

She has nil no claims bonus, or she does have no claims bonus? The reason I ask is because in your last sentence you say "as I hold all the no claims bonuses"??

In the long run, a policy in your son's name would be cheapest.

hi. i have car insurance with tesco i have both my son and soninlaw on my policy they give a no claims policy to other drivers that is named on the main policy . i hope this can help you as they intend to take out a policy of their own for the time they have been named drivers on my policy .

BIGHOSS2:hi. i have car insurance with tesco i have both my son and soninlaw on my policy they give a no claims policy to other drivers that is named on the main policy . i hope this can help you as they intend to take out a policy of their own for the time they have been named drivers on my policy .

This is absolutely useless as the named driver no claims bonus is non-transferrable to other insurers.

Read this very carefully: This benefit cannot be transferred to policies with other insurers. Discount is based on the number of continuous years as a named driver (min 1yr) at the time the discount is applied. The policy you are named under must be live when your discount is applied.

I can see at least six reasons, from the above statement, as to why this 'benefit' is nothing more than a gimmick.

hi. regarding your comment . as stated i am insured with tesco car insurance i have my son and son inlaw as named drivers .what i was explaing was that if you have named drivers on your policy with tesco they can build up their named driver n.c.d. which can be used exclusively on tesco motor insurance if they personally have a claim free record on your policy. they will credit them with the number of claim free yearsthey have earned should they wish to insure a car in their own right with tesco insurance as far asi am conncerned there isno gimmick there as after being on my policy for so long they now have their own. at avery good price a lot cheaper than most insurers want fromthe teenagers today only because of them being as named drivers onmy policy. regards.

Foreword:

Okay, you're looking at this from the wrong angle. The same angle Tesco wan't you to look at it - so well done Tesco, the gimmick is working!

Re-iteration

<clicks knuckles>

Before I begin, I will re-iterate. This 'benefit' is not a benefit. It is a gimmick. Your son and son-in-law will not benefit from this in the long run if they are wanting to build up no claims bonuses.

Scenario

You are insured with Tesco. You add your son to the policy. He is on this policy for, say, 4 years, then decides to take out another policy (Also with Tesco). He takes the 4 years NCD and applies them to the Tesco policy. Three years later, your son thinks 'Why is it other companies are quoting significantly lower than Tesco?' based on the 7 years no claims bonus? Well, this is because it would have been 7 years when in actual fact he only has 3 if he decides to move to another company! In this scenario, your son is missing out on 4 years NCD, wasted years and much higher retention premiums due to the transfer clause!

Summary & Closure

If you cannot understand the above procedure or see beyond the 'excellent deal', then operating a motor vehicle is a very dangerous task for you to be given.

Final Word

Not too sure why I bother sometimes. If one isn't prepared to listen in the first place, it's very tiring having to explain it for the second. What's also irritating, is that the same question will appear again next week. <whistles>.