MX5 Mk1 for my soon to be 17yr old boy. How to insure him?
Discussion
What do you recommend? I have just renewed with Admiral as the MX5 Mk1 is in my name as the owner and it's insured in my name.
I plan for it to become my son's car and want him to learn in it. At the moment, as I understand it, I take out a learners insurance for him in his name which runs parallel to my policy, until the point he passes and then I end that and take out a policy in his name as the primary driver. Is that right?
Do I also need to transfer the car into his name as the owner as well?
What insurance company do you recommend? It's an Eunos import to make the cost worse.
Any wisdom would be much appreciated as I am bracing hard for the cost!!
I plan for it to become my son's car and want him to learn in it. At the moment, as I understand it, I take out a learners insurance for him in his name which runs parallel to my policy, until the point he passes and then I end that and take out a policy in his name as the primary driver. Is that right?
Do I also need to transfer the car into his name as the owner as well?
What insurance company do you recommend? It's an Eunos import to make the cost worse.
Any wisdom would be much appreciated as I am bracing hard for the cost!!
Paul Cowland got insurance for his daughter on an MX5 here: https://youtu.be/wec6wJJkjh8?si=3ZCsdqFpXFoN8F3D
Dw1 said:
Do I also need to transfer the car into his name as the owner as well?
Not essential ,but insurers ask if the car is registered in the policyholders name. IIRC They may bump premiums or possibly refuse cover if not.Check that it's possible to get learner cover on the mx5. Will depend on the insurance group... You can run it through the Meerkat to see what premiums are like for when he's passed.
josh00mac said:
Can t you get him a classic policy? May have a mileage limit but the mk1 and mk2 should be covered by classic policies. He may not build NCB this way but at least he s covered. Worth a look.
As far as I’m aware, most classic policies have an age limitation, require that it not be a main car, this is anecdotal.The closest I could see is this: https://www.footmanjames.co.uk/news/classic-car-in...
...But that won't work until he's 18
Also Marmalade - who are one of the big 'learner policy' companies - won't cover cars over 20 years old. I suspect this isn't uncommon.
...But that won't work until he's 18
Also Marmalade - who are one of the big 'learner policy' companies - won't cover cars over 20 years old. I suspect this isn't uncommon.
lol bloody hell! Back to the drawing board then?
Edit: the trouble is MX-5s are insurance group 23, as are most half decent roadsters with a manual ‘box. Even Smart Roadsters (that aren’t manual) are group 20 and so will cost loads for a 17 year old to insure.
Edit: the trouble is MX-5s are insurance group 23, as are most half decent roadsters with a manual ‘box. Even Smart Roadsters (that aren’t manual) are group 20 and so will cost loads for a 17 year old to insure.
Edited by georgeyboy12345 on Wednesday 6th August 19:59
In my case all my children took out learner policies as such with Admiral and we then kept the policy with them when they passed.
All policies were in their name and our thinking was that better to get them to the first years NCB ( Admiral grant this irrespective of when they passed ) rather than play around with different providers.
Whether this was more expensive or not I know not but my sense was it worked out ok.
You can probably reduce the cost by having you as a named driver and also restricting the annual mileage.
I don’t believe the car has to be in your sons name but in which case you obviously have to declare who the registered keeper is.
Whether this makes a difference in premium only the Insurer can answer.
All policies were in their name and our thinking was that better to get them to the first years NCB ( Admiral grant this irrespective of when they passed ) rather than play around with different providers.
Whether this was more expensive or not I know not but my sense was it worked out ok.
You can probably reduce the cost by having you as a named driver and also restricting the annual mileage.
I don’t believe the car has to be in your sons name but in which case you obviously have to declare who the registered keeper is.
Whether this makes a difference in premium only the Insurer can answer.
My two older sons both (fairly recently) had learner cover on our Admiral multi car policy.
There was no requirement to have a black box fitted, but I did insist on a dash cam and Life 360 app to monitor in the early days.
The learner car was a Skoda Citigo, so about as low insurance group as you could get.
When my eldest was 19, he bought a 2.7 Cayman. He’s done the research on the insurance and the first year cover (in his name, car registered to him), was just under £1000.
The Admiral advisor explained about the algorithms used for this type of quote; even though the car is a high insurance group, there are very few claims involving young drivers and this model of car.
Admiral (as I remember) wouldn’t quote him for an MX5 at the time.
He’s 21 now and pays under £700 a year. Having said that, we’re in a safe rural postcode area too and have six cars on the policy, so get a discount for each additional vehicle.
There was no requirement to have a black box fitted, but I did insist on a dash cam and Life 360 app to monitor in the early days.
The learner car was a Skoda Citigo, so about as low insurance group as you could get.
When my eldest was 19, he bought a 2.7 Cayman. He’s done the research on the insurance and the first year cover (in his name, car registered to him), was just under £1000.
The Admiral advisor explained about the algorithms used for this type of quote; even though the car is a high insurance group, there are very few claims involving young drivers and this model of car.
Admiral (as I remember) wouldn’t quote him for an MX5 at the time.
He’s 21 now and pays under £700 a year. Having said that, we’re in a safe rural postcode area too and have six cars on the policy, so get a discount for each additional vehicle.
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