Looking for insurance for my son – is third-party okay?

[CoffeeLover87]

Hi everyone,
I’m a bit stuck and wondering if I’m being unreasonable… My son just passed his driving test a couple of weeks ago, and we bought an old automatic car for £3,000 ( auto are more expensive than manual) . I’m now looking for insurance for him and trying to keep the cost down.
I’m thinking of just going for third-party rather than comprehensive, but I’m not sure if that’s sensible. Has anyone done this with a new driver? Any recommendations for insurance providers with decent prices, or tips on how to keep costs lower?
Would really appreciate any advice!

Can he or you afford to replace it if you need to?

Can you afford to pay to fully repair/replace the car if it is damaged or stolen?

Not very sensible doing 3rd party for a new driver.

Have you compared prices yet? Granted I am not a new driver but I looked into this a couple of years ago just out of interest and the prices were not actually that much cheaper.

I don't know. I've always paid for fully comp but I rely on my car to get to work so want it repaired quickly and tobhave a replacemebt car and it is easier to budget for that known amount. As pp said, can you afford repairs or replacement should they be needed? Can he get by without the car should repairs be needed. What's the difference between the quote for fully comp and third party? Could he get a better deal by having one of those black box things?

It’s barely any cheaper to go TP or TPFT.
Comp will be a lifesaver if he crashes or ends you’re left with a hefty repair bill or a write off.

No, i wouldn't do Third party only. Especially not for a young new driver.

In some instances at some places the difference between 3rd party and fully comp is negligible, so always use a site like compare the market to get quotes - do one search for 3rd party, one for fully comp.

All new drivers used to be insured third party fire and theft back in the 1990s when I passed my test. It was all most people I know could afford. Ultimately the risk is being unable to repair the car or loosing it if your son has an accident which is his fault and it is badly damaged or written off. You weigh up the cost of the car against the increase in insurance as well as what you can afford.

I think it’s all about taking a chance and weighing up the repairs, really. The car only cost £3,000, and if it needs a big repair, I doubt the cost would be less than £1,000. I’m just thinking, if the repair would be around 30–40% of the value of the car, is it really worth doing? Obviously, it could go either way , it might need it, it might not.
Another thing I was thinking – and I might be wrong – is that third-party insurance could be much cheaper, so I’d probably go for that if it makes a big difference. My main idea, though, is really just asking if anyone can recommend any insurance providers who are normally good for new drivers, or perhaps cheaper than the rest.

First pass - get some prices from (eg) Compare the Market, then call an Insurance Broker for advice and see what quotes they can offer.
They have the market knowledge / seen it all before.

Fully comp can be cheaper than third as third party can imply that you're less worried a out driving carefully.
Very low mileage can also be more expensive so try playing around with a comparison site.
Will you ever drive the car? If so adding a second driver can reduce the premium and is actually quite useful as means that you can use the car if necessary.
Be careful with this as you must make sure you're not 'fronting' which counts as insurance fraud. If it's his car and he is listed as the main driver then you can be added as a second driver. It is fine if you only drive it once in a blue moon.

If you insure in your name and he is the main driver then this is not allowed.
If it is being used to commute to school, college or a job then you have to declare this and it can increase the premium
If you can handle a bigger excess then that may also reduce your premium

Look on money saving expert website under insurance

Some new car insurance are cheaper with a black box installed & restricted mileage

Op would you drive with 3rd party only

Buy fully comp insurance

Jesus no! I wouldn't get 3rd party for myself let alone a young male recently passed their test!

As everyone has said, use a price comparison website like Compare the Market.

Doesn't matter if you have fully comprehensive or not. With such a cheap car, they'll just give you what the car is worth If he writes it off. It won't take much to write it off at that cost.

No don’t opt for third party but adding you as an additional named driver assuming you have a clean licence will help, look at black box policies too. My DDs insurance at 20 was only £780passing her test, admittedly slightly older, but it was on my multi car with her as the main driver

He's a new driver, his insurance will be expensive no matter what you try and do, buying a cheap car sometimes makes it worse not better

Go with a black box and restrict the hours he can drive if poss....Will make it a bit cheaper maybe

It’s all about the car as well. My DN is looking at insurance now. Insurance on a Fiesta is double what insurance is for a Toyota (can’t remember the model, but something not very “cool with the kids”) 🤣

A tip my sil shared recently is to havr the insurabce starting about 3 weeks in the future as opposed to tomorrow. Apparently it brings the cost down significantly.

I'd agree on the adding an older/more experienced driver as a second driver. My best mate passed her test a few years ago (in her 30s, mind you), and added me as her 2nd driver. We do sometimes drive each other's cars, if we are away, or if it's easier due to boot space, etc. It took her insurance down by about £100. I am an experienced driver of 30+ years, and have full no claims on my own car, but we were surprised by the difference.

Oh, and I've never gone TPFT, even in the early, expensive days, as it helped build my no claims. I went for a larger excess in the first few years, and although I had an old, cheap car, I am glad I did it that way. More than once, we repaired parts from the scrappies, like a wing mirror, and wheel trim!