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Lucy F, Bradford UK

Do I Need a Different Car Insurance Policy for Each Driver in my Family?

You do not need to buy separate car insurance policies for individual drivers in your family. If one or more family members and you share a car, you can save considerable money on vehicle tax cost by also sharing a single policy. You could also save on fuel, maintenance, parking and other costs. If you have more than one car in the family, you can save money by purchasing a multiple-car policy. You might save even more with a multiple-driver, multiple-car policy, depending on the driver ages and vehicles.

Adding Named Drivers

If your car insurance policy is in your name, you may add up to four more drivers to your car insurance policy. You, as the policyholder, are known as the “regular driver.” The subsequent drivers added to your policy are known as “named drivers.” Be aware that adding drivers may change your premium for the good or the bad, depending on the other drivers’ insurability.Younger, “regular drivers” may lower the cost of their premiums if they add a parent or another mature driver with an excellent record to their policy. For example, if you drive under a provisional license or if you are newly qualified, your cover may be cheaper with your mother or father added to your policy. On the other hand, adding someone with a bad driving record could elevate your premiums.Some car insurance companies will allow only the policyholder to earn a no-claims bonus. A no-claims bonus – your prize for driving for an entire policy period without a claims submission – can considerably lower premiums over time. However, on many policies, named drivers neither earn the bonus nor have the ability to transfer the bonus accumulation to a different provider.If you already have four named drivers on your policy but want to add another one, you might purchase an additional option, called a policy rider, that overrides the maximum number allowed. With that option, you can add more than the maximum normally allowed, but your premiums will increase from the rider and for each additional driver then covered on your policy. You have the flexibility of additional drivers on your policy, but their driving records might increase premiums beyond expectation.

Multiple Car Insurance Policies

Multiple-car insurance is available for families that have more than one vehicle and who live in the same household. Multiple-auto insurance policies take into consideration the age, driving habits and credit record of each driver listed on the policy and the type of coverage purchased. The type of cars, mileage, driving history and other factors influence the single premium paid for cover on multiple cars listed on the combined-car policy.If you drive a sports car to work once each week, and your spouse drives a high-performance vehicle each day, you might be able to reduce total insurance costs by combining coverage two ways: Consider a multiple-driver, multiple-car cover option, then compare those costs to individual policies with the vehicles listed independently. You may find that joining cover on one policy for both drivers and cars might save you the most money in the long run.If family members in the household and you drive separate vehicles or share the same auto mobile, you don’t need separate policies. Combining drivers on car insurance policies allows many families to reduce the cost of car insurance. Sharing a single vehicle also reduces fuel, taxes and maintenance costs in addition to the lower the insurance premiums. Also, combining your family’s cover could simplify the paperwork involved in insuring your auto, especially when it’s time to renew your insurance cover.

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