Does Adding A Named Driver Make Insurance Cheaper
Does Adding A Named Driver Make Insurance Cheaper?
For many drivers, insurance is a necessary evil. Taking out a policy can be expensive, but failing to do so can be even costlier. But there are ways to get cheaper insurance, and one of the most common is to add a named driver. But does this really make insurance cheaper? This article will answer that question and explore the pros and cons of adding a named driver to your policy.
What Is A Named Driver?
A named driver is someone who is listed on your insurance policy. This person is given permission to drive the vehicle that is insured, but they are not the main policy holder. In most cases, they will be added to the policy to help reduce the cost of your premiums.
Do Named Drivers Make Insurance Cheaper?
The answer to this question is yes. Adding a named driver to your policy can help to reduce the cost of your premiums. This is because the insurer is taking into account the fact that you are not the only person driving the car. So, if you have a named driver, the insurer will assume that the risk of an accident is reduced because they are not the only person behind the wheel.
What Are The Benefits Of Adding A Named Driver?
Aside from the potential savings on your insurance premiums, there are other benefits to adding a named driver to your policy. For example, if you are the main driver of the car, and you are away from home for an extended period of time, the named driver can still use the car. This can be particularly useful if you are away for work or on holiday.
What Are The Downsides Of Adding A Named Driver?
While there are plenty of benefits to adding a named driver to your insurance policy, there are also some downsides. Firstly, if you are the main driver of the car, and the named driver makes a claim, it will affect your no claims bonus. This means that if you make a claim on your own policy, your premiums will increase. Additionally, if the named driver is involved in an accident, your premiums could also increase.
Conclusion
Adding a named driver to your policy can be a great way to reduce the cost of your premiums. However, it is important to consider the potential downsides before doing so. If the named driver is involved in an accident, the cost of your premiums could increase significantly. Additionally, if you make a claim on your own policy, your no claims bonus could be affected. It is important to weigh up all the pros and cons before making a decision.
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