This method is possibly the most effective technique you can use to bring your car insurance quotes down – although mainly for young drivers.
car Insurance companies assess you on how much of a risk you are in terms of causing a collision or other damage that they will end up paying out over.
If you’re insured on a powerful car at a young age, but tell the car insurance company you only drive it one day a week, in their eyes you are one SEVENTH of the risk you were before to them, though this won’t be entirely reflected in the price if you were going to get insurance for one day per week.
Taking the theory further, you can’t realistically get cheap insurance for one day a week, the car has to be insured for the rest of the time too – and for legal reasons, if you don’t have a private driveway or garage where you keep the car,
if it’s on the road and is involved in a collision, you aren’t covered. Back to the concept – somebody else should be insured on the car for the other six days a week when you’re supposed ‘not’ using it.
This person should be someone with an excellent record and a wealth of experience in motoring.
The best case scenario is a driver approaching the age of 50 without a single claim in their lengthy motoring career.
This person should be listed as the main driver on your policy when filling out a quote form.
You should be the named driver – the main driver has to be the person who will be using the car the most, technically, although for the purposes of reducing insurance premiums I’ll explain why this isn’t a problem in a moment.
Insurance companies aren’t entirely blind to this concept – thousands of people do it without any problems,
but you can’t expect the insurance company to assume everything is normal when a 50-year-old is all of a sudden getting insurance for a 1.3 hatchback when he has a different policy with them for his Range Rover.
Insurance companies can’t do anything to prove or disprove that you won’t be doing exactly as you agree in your policy.
When creating a policy they will usually ask what times you will be using the car and how much usage each person listed for the policy will have with the car.
Answer this truthfully, though if as the named driver you say you’re going to be using the car late nights at weekends, it will reflect in your quote.
In the event something does go wrong i.e. you have an accident, insurance companies will do anything to try and prove that your insurance is actually void – obviously, they don’t want to have to payout, so if they can prove you broke the agreement, they won’t have to.
The fact is, if you answered truthfully they will never be able to prove when you have and haven’t been using the car.
For example, if you’ve said you’re using the car on weekends only and the other 5 days a week the main driver is using it to commute,
if you have an accident during the week because you’re actually driving it 7 days a week, the insurance company only has a very shaky leg to stand on in court, since when stating when you will use the car,
they are rough approximations, not exact times – though there are policies that are cheaper for younger drivers if they only drive during certain off-peak times.
Whenever you take out a policy with an insurance company always make sure you read all the print in the contract, no matter how small – it could land you in serious trouble when trying to work the system like this.
If you do use this method, I would just take extra care, in general, to try and not have an accident since it’s a hassle you can do without.
For more tips and tricks on bringing your insurance down, read my other articles!