Car insurance etc for new driver aged 18

[Artdecolover]

Hi,
My son has his driving test next month.
Hopefully he'll pass 🙏
He is off to university at end of September.
My current plan is to sell him my car (4 years old, very cheap to insure etc) at a good discount ☺
What is the best way to do this? Transfer the car registration to him and get multi car insurance?
Or do I keep the car in my name?
I'm hoping to get an electric car ☺

We paid £770 last year for DD's (then 18) first insurance. This year the renewal has come in at £575. She had a black box for the first 6 months. This is for her 5 year old Fabia.

[quote pinkmoon18]@Ginisatonic Obv I don't know her address, of course it depends on where you live etc but I doubt it's going to jump £700 for an address. [/quote]
@pinkmoon18 there could easily be. £700 difference. Why don’t you just tell the OP you don’t believe her. You obviously don’t.

The info entered is all correct.
It's with a firm I've never heard of!
Thanks for the advice, very helpful 👍

@Ginisatonic I'm literally just trying to help, as I said previously incase any info was done incorrectly.
You don't need to have an attitude

@CoastalSwimmer

We paid £770 last year for DD's (then 18) first insurance. This year the renewal has come in at £575. She had a black box for the first 6 months. This is for her 5 year old Fabia.

Wow, who was that with?

OP My 18 year old paid £1200 for her insurance, did all the comparison sites etc. and that was the best.

If you maintain ownership there might also be an issue about the car not being kept at the registered address.

[quote pinkmoon18]@Ginisatonic I'm literally just trying to help, as I said previously incase any info was done incorrectly.
You don't need to have an attitude[/quote]
Think you’re the one with the ‘attitude’ - are you my mother?
The OP does sound as though she can navigate her way around a comparison website.

@Ginisatonic thankfully I'm not your mother

[quote pinkmoon18]@Ginisatonic thankfully I'm not your mother [/quote]
Good grief. You are getting yourself a bit overly excited about all this.
OP hope you get it all sorted. Sounds like you have a good quote there.

@Ginisatonic 😂😂 Enjoy your Saturday night

That sounds really cheap!

My DD is TPFT, 18 and her insurance with a black box was £1400. I could not get it down at all. Car is an older ford.

Are you sure the quote is for a full licence? I’m paying £550 for DD on my multicar policy. Her car but not yet in her name until she passes. From experience with DS, it slightly more than doubled when he passed - because driving independently rather than under supervision.

Black box made a big difference. We had one that incentivised him financially to stay ‘green’.

Apart from the risk of being accused of ‘fronting’, getting them set up as main driver themselves helps bring their costs down v quickly. I think DS this year, aged 20, was around £350.

Having the car registered at his uni address will usually bump the cost up, as will saying he is a full-time student. Be careful if it is registered at your address instead as the insurance company can consider this fraud and not pay out on claims.

C^oastalSwimmer
We paid £770 last year for DD's (then 18) first insurance. This year the renewal has come in at £575. She had a black box for the first 6 months. This is for her 5 year old Fabia. 

Wow, who was that with?

OP My 18 year old paid £1200 for her insurance, did all the comparison sites etc. and that was the best.^

@vjg13 it was with Bell insurance. Fully Comp, £100 excess, car parked on drive at night, DD as main driver and me and Dad as named drivers.

My insurance when I first passed was just over £1k. However for some weird reason my sister has just done her insurance and all the company’s that came up we’re roughly the same 900-1000 but one which was just over £200.. all same details etc so she’s taken it out. She’s only got a little old banger car though.

The very cheapest ones that come up on comparison sites can be much less attractive when it comes to actually paying out for an claim. Be VERY careful. Best to stick to a name you know, or at least Google the company and read the reviews.

Op
Did you donyour current address or his uni address? For example where the car will be at night etc.

@Artdecolover

Not yet...😬

The car is in the top 10 of cheapest cars for new drivers to insure but it'll still be £500 at least...

🤣🤣🤣🤣🤣🤣🤣🤣

I think my DSs was about 1500 with a black box at 19. Add in the extra “student” and parked away from home in a student area and it will be 😱

I see you have a very low price, I am amazed and sceptical. Have you answered all the questions honestly?

Who is it with? I know you have never heard of them but could you find out as I'm on an insurance journey myself for my 17 year old.

I knew it was going to jump up with a full licence but £1200 is the cheapest we have found.

There are lots of variables depending on postcode, overnight parking etc but the cheapest we found for my daughter was 1200 without a black box. I think it is better than a lot of her friends pay. Husband also on as a named driver.

I insured my 18 Dd f or the first time this year
We have a Skoda Fabia 1l,3 years old and the quotes all came in around £800

Mine was £900 for 3rd party/fire/theft on a fiat uno and that was 2001!

I played around with the options on the comparison sites: Fully comp was often the same cost as third party; a larger excess usually didn't lower the price; adding both parents to the insurance as named drivers greatly reduced the quote.