Which is better? Car in my name or wife's?

[Earthforge]

Placed a deposit for a Honda in April. Had put down the car

[Prozac]

i would start to build my own NCD by registering in my own name. Excess is kinda high but just hope so unlucky

[Earthforge]

I am thinking along the same line as well, else I will never get NCD.

 

Agent had argued that it make sense to have the car registered in my wife's name since excess is so much lower. That is true of course, but it does mean that I will only get to accumulate NCD when my wife transfers her NCD to me when when we change car, which at this moment I sitll don't know when and whether there are costs involved.

Edited June 15, 2008 by Earthforge

[Fitvip]

If the car is registered in your wife's name with you as the additional driver, in the event of damage claim, wouldn't the access be more (and not $600) if you were the driver?

 

NCD has to be accumulated or earned over the years. The longer you stay claim-free, the sooner you reach higher % discount. So, when do you want the discount to begin?

[Earthforge]

"If the car is registered in your wife's name with you as the additional driver, in the event of damage claim, wouldn't the access be more (and not $600) if you were the driver?

 

NCD has to be accumulated or earned over the years. The longer you stay claim-free, the sooner you reach higher % discount. So, when do you want the discount to begin?"

 

The figures came from the Agent, but I would agree that it is logical that even if the car was registered in my wife's name, if I am included as an additional driver, then logically, our "grouped" excess would be the higher of the two, which should be mine. So, it is likely that the Agent was wrong.

 

Don't see a reason why I would want the NCD to begin accumulate only in later years if I am driving now.

 

In any case, my view of car insurance is that it should be only be used for major repairs, things that run into the thousands. If it is damages in the hundreds or one or thousand, I am willing to pay for it myself for not wanting to affect the NCD.

Edited June 15, 2008 by Earthforge

[osama]

So complicate on small money . In kazakhstan we men ride the horse

[osama]

If you P plate i sugest u ride bus first

[Fitvip]

"The figures came from the Agent, but I would agree that it is logical that even if the car was registered in my wife's name, if I am included as an additional driver, then logically, our "grouped" excess would be the higher of the two, which should be mine. So, it is likely that the Agent was wrong."

 

Must refer to the fine prints!

 

"In any case, my view of car insurance is that it should be only be used for major repairs, things that run into the thousands. If it is damages in the hundreds or one or thousand, I am willing to pay for it myself for not wanting to affect the NCD."

 

That would depend on whether it involves any other parties. Nowadays, drivers are required to report accidents within 24 hours, even with no obvious damage!

[Fitvip]

 

 

Edited June 15, 2008 by Fitvip

[Earthforge]

My Kah Motor salesperson isnt the best. Not thorough and very vague.

 

In any case, do I have the option to chose my owned insurance company or do I need to stick to the Kah Motor one? I believe its AIG which I have told explains the high premiums and excesses.

[Evoluzio]

Under the set of conditions listed, it makes no difference to buy the car under your name or your wife's without listing you as an additional driver. Don't bother about the option of listing you as an additional driver.

[Fitvip]

Some Ads have the package deal tied to their ins co, while others have a few to pick from. Can ask your SE for a change lor.

 

Btw, imho, a named driver is different from a policy holder!

[Prozac]

for Kah motors, i believe you must take the in house insurance to be able to enjoy the in-house insurance discount...

[Prozac]

but it does mean that I will only get to accumulate NCD when my wife transfers her NCD to me when when we change car, which at this moment I sitll don't know when and whether there are costs involved.

 

transfer of NCD should not have any costs involved.. just some signing of papers, produce documentary proof, etc.

[Earthforge]

There is very little discount in my case. Only $1k off the listed price of $75k cos I took a small and short loan.

 

Methinks whether its worthwhile going for some other insurer.

[Earthforge]

"Btw, imho, a named driver is different from a policy holder!"

 

Pardon my ignorance, but what is the difference, at the end of the day, the key is that there is coverage for major accidents which should cover both the named driver and policy holder. I guess the major difference would be the policy holder would stand to lose the NCD if there is an accident, whereas the named driver would not.

 

Anything that I missed?

 

In any case, since I am the principal driver of the car, better for me to be the registered owner of the car?

[Earthforge]

Under the set of conditions listed, it makes no difference to buy the car under your name or your wife's without listing you as an additional driver. Don't bother about the option of listing you as an additional driver.

 

So that I am clear, you are suggesting either register the car in my wife's name or in mine, and not bother about adding another named driver. If so, what if touch wood, one of us gets involve in accident and we are neither the registered owner nor the additional named driver. Just ask the other party to quote the registered owner's name and all will be settled? Any possibility of disrupt, e.g. the other party said the driver was male when the registered owner is female etc.

[Tigershark1976]

I am thinking along the same line as well, else I will never get NCD.

 

Agent had argued that it make sense to have the car registered in my wife's name since excess is so much lower. That is true of course, but it does mean that I will only get to accumulate NCD when my wife transfers her NCD to me when when we change car, which at this moment I sitll don't know when and whether there are costs involved.

 

y calculate until like dat??? husband and wife monies should be the same, unless u prepare to divorce soon, else, the NCB is under ur wife or u doesnt make much diff.... if im u, i will just go for the lower premium. thats all....