Insurance for "Pool Car" for my kids.

[jellypig]

Hi, I have 3 teenage kids at (approx) 2yr centres, they are quite bright & certainly the elder 2 are making noises about university.
I've ordered, but not collected a brand new car for them to use as a learnermobile (rest of family "daily" fleet are autos and I get a bit Charlton Heston "cold dead hand" about the keys to my manual weekend car).

Because of the Uni thing, it will notionally be each kid's car for approx 2yrs. ie become 17, have it for 2years, clear off for uni just about the time the next in sequence is 17, rinse and repeat. (over uni breaks they can share, or once they have a bit of experience, added to the family car policies) I am happy with the idea of a "pool car" for the kids, and consequentially buying 1No better one, than a fleet of bangers for lots of reasons, even total cost.

I will rarely drive it, though I will be paying for it, and paying the insurance premium.

Being a parent, I always try to be "fair" - so in terms of insurance, I could provide them with
a) 2yrs NCB each (assuming..hahahaha, big assumption) or
b) 0yrs NCB, them just being named drivers added sequentially.

Initial speaks with my broker, and they are telling me that if I want to do 2yrs with each of them as policyholder in turn, they will each need to be registered keeper. So... when we come to sell the car it will have 3 (or possibly 4) RK's - that strikes me as daft.

OR..if I want to go down the route of me/wife being the policy holder, and consequently kids accrue 0 NCB each, then that would be "fronting" if I sequentially added them as Named Drivers.


Any suggestions?
I see it as daft that we'd end up with so many registered keepers of the same car that would remain at the same address just passed between siblings.
I can, even now, write out a list of who will be the main driver between 2015 and 2021 with quite a high degree of precision.
I am trying to be completely truthful, honest and fair.
And yeah, I appreciate I am talking about insurance from now to nearly 6yrs hence, but shortly VW (I presume) are going to ask me to nominate a RK for yr1 which starts shortly, so am trying to ensure I dont do anything irreversible.
Surely this isn't too unusual a scenario for "insurance world" ?

Thanks

[jellypig]

Defcon5 said:

They don't need to be the RK.

Problem solved

Thanks, was asking because:

My broker via email said:

The car will need to be registered in each drivers name in turn as they start to drive.

I dont know if that was relating to a particular policy or a general guidance, I didnt expect it to be true, but thought I'd ask.

Breadvan72 said:

Also, as you are evidently not skint, why are you worrying about the trifling effect of having a few keepers on a car's resale value? The fact that the car will quite likely have been dented and thrashed by inexperienced drivers may be more relevant to its later value, but, even then, who cares? Buying cars is not about saving money.

Am not "worrying", just fact finding before I nominate the first RK.
And no, not skint. Ordered new because it made sense to me for many reasons, of which cash was only one.

[jellypig]

Thanks. I will nominate the eldest as RK so as not to restrict insurance co. yr1&2 , & then see how the land lies after that. I can only assume my broker was talking about a specific product, I haven't had a formal quote from them, I wanted a "ball park" for when we talk to the manufacturer about insurance (see below) and who to nominate as RK.

I wish I hadn't mentioned brand new, I included it because in a first draft I referred to the car coming with age limited 1yrs free insurance. The manufacturer has offered to quote for a 17 & 21yr old and we pay the difference. But, my post was preparing for the scenario where their quote was uncompetitive, and hence irrelevant.

I appreciate the comments about "spoilt generation" and that all cars are money pits. My parents paid for AA membership I covered everything else. But in this case, I have the means, and I feel my logic is sound. As for the diminishing returns to the younger 2, agreed, its a consequence of me insisting that I will buy 1 better "pool car" rather than get involved with up to 3 (even if they self fund), but as time goes on the elder will be eligible to drive the other vehicles at home and so sharing reduced if it becomes an issue.