Insurance Question - 4 cars x 2 people
Discussion
OK - what is the best way to insure 4 cars? We currently have three - a day car each and a Griffith. We are looking to buy another car and need to research insurance options. We have full NCD on all three cars - the Griffith is on a limited mileage and insured in Mr Big's name with me as a named driver.
With 4 cars (two will be TVRs) are we better looking at 'fleet' insurance? Do we insure the new Tuscan in my name, transferring the NCD and start another policy in my name - help.
I think we might need a broker?
With 4 cars (two will be TVRs) are we better looking at 'fleet' insurance? Do we insure the new Tuscan in my name, transferring the NCD and start another policy in my name - help.
I think we might need a broker?
Hi BigM
We have just arrived at the same scenario (2 drivers, 2 day-to-days, Cerb and a Wedge) so I am just about to investigate the options. An ex business partner was a very good broker so I will run it by him, and I also use a good General Insurance specialist for the practice referals so will let you know what they say. I am away til Sunday night working and at Pistonfest but will see if I can get an answer early next week unless someone else has come up with any bright ideas.
ps I am typing this on my laptop hooked up via infrared to my mobile phone. Got to get my shot of PH somehow
>> Edited by suffolkfox on Wednesday 30th June 22:16
We have just arrived at the same scenario (2 drivers, 2 day-to-days, Cerb and a Wedge) so I am just about to investigate the options. An ex business partner was a very good broker so I will run it by him, and I also use a good General Insurance specialist for the practice referals so will let you know what they say. I am away til Sunday night working and at Pistonfest but will see if I can get an answer early next week unless someone else has come up with any bright ideas.
ps I am typing this on my laptop hooked up via infrared to my mobile phone. Got to get my shot of PH somehow
>> Edited by suffolkfox on Wednesday 30th June 22:16
I have this problem and have tried various ways round it without success!
I tried becoming a 'part-time motor trader'. A mate of mine has a business and pays about £1000 a year for his cover BUT he has premises which apparantly underwriters like. I have Griff, BMW 7 and Animal L200 truck as well as a few bikes. Quote for me 'tradin' from home, was £3000. individual rates are 500, 360 and 340 for the cars so it didin't help.
Also be warned the quote took about 6 weeks to come back and there are other factors, ie you have to specify a MAX claim amount for your own loss (I used £15k as i'm prepared to underwrite some of the risk myself).
My bikes however present no problems although i inculded them for simplicity. I insure a 'main' bike and then add the others to the policy for a reasonable fee. (Third Party though). Why can't it be like that for cars?
Whilst I'm ranting on insurance generally WHY CAN'T I GET THIRD PARTY COVER!!!!! I can't find any insurer to give me Third party cover because my cars are over £6000 in value. Since I have to insure to be legal I have to pay Comprehensive rates!
Rant over.
If you solve this problem, I'd love to know the solution so please let me know.
I tried becoming a 'part-time motor trader'. A mate of mine has a business and pays about £1000 a year for his cover BUT he has premises which apparantly underwriters like. I have Griff, BMW 7 and Animal L200 truck as well as a few bikes. Quote for me 'tradin' from home, was £3000. individual rates are 500, 360 and 340 for the cars so it didin't help.
Also be warned the quote took about 6 weeks to come back and there are other factors, ie you have to specify a MAX claim amount for your own loss (I used £15k as i'm prepared to underwrite some of the risk myself).
My bikes however present no problems although i inculded them for simplicity. I insure a 'main' bike and then add the others to the policy for a reasonable fee. (Third Party though). Why can't it be like that for cars?
Whilst I'm ranting on insurance generally WHY CAN'T I GET THIRD PARTY COVER!!!!! I can't find any insurer to give me Third party cover because my cars are over £6000 in value. Since I have to insure to be legal I have to pay Comprehensive rates!
Rant over.
If you solve this problem, I'd love to know the solution so please let me know.
We are in the sam esitu as big M (2 day cars and a Griff but moving on to 4 cars later).
The way I thought of doing it was to have a main car and a second car each and then be named drivers on each others policy.
Example
Person 1
Golf and Griff. (With person 2 as a named driver on policy).
Person 2
Toyota and Westfield. (With person 1 as a named driver on policy).
The way I thought of doing it was to have a main car and a second car each and then be named drivers on each others policy.
Example
Person 1
Golf and Griff. (With person 2 as a named driver on policy).
Person 2
Toyota and Westfield. (With person 1 as a named driver on policy).
Debs,
Adam's suggestion sounds like the best option at the mo, unless either of you has done anything to make your own insurance particularly expensive!
You will need to actually be the registered owner of the car to take up the policy though.
I've had a similar problem (is having more than 1 car really a problem?
) and found the cheapest way round it was to get my Griff insured as my main policy (with full NCD), and my motorhome insured with someone else who offered a good introductory discount.
My parents have several cars too, and they've looked into this before and have always found it cheaper to get each car insured individually, but it's worth shopping around even more than usual as some people give more discount than others for it being your 2nd or 3rd car.
Hope this helps!
Adam's suggestion sounds like the best option at the mo, unless either of you has done anything to make your own insurance particularly expensive!
You will need to actually be the registered owner of the car to take up the policy though.
I've had a similar problem (is having more than 1 car really a problem?
) and found the cheapest way round it was to get my Griff insured as my main policy (with full NCD), and my motorhome insured with someone else who offered a good introductory discount. My parents have several cars too, and they've looked into this before and have always found it cheaper to get each car insured individually, but it's worth shopping around even more than usual as some people give more discount than others for it being your 2nd or 3rd car.
Hope this helps!
DustyC said:I found quite a few did "introductory" discounts which although they didn't give you mirrored NCD on the 2nd policy, they did usually knock off 50-60%.
Bell Direct were the only company I could find that would mirror a NCD.
All the other TVR insurers and Tescos no longer do it.
Many companies do these policies for people with more than 1 car, or ex-company car drivers who have a good history, but no NCD.
My first 8 years of driving was on comapny insurance so this was a must for me.
Thanks for all the suggestions guys - think insurance companies should do something for us multi-car owners. It is not as if I can drive them all at the same time.
Still it wont do any harm for the new Tuscan to be registered and insured in my name with Mr Big as a named driver. I am paying half after all. Look good when we come to sell it as well 'One lady owner'. But I think the Tuscan may end up like the Griff - a permanant fixture. I can see a garage extension in our future plans.
Suffolk Fox - will we see the Wedge at the next meet?
Still it wont do any harm for the new Tuscan to be registered and insured in my name with Mr Big as a named driver. I am paying half after all.
Look good when we come to sell it as well 'One lady owner'. But I think the Tuscan may end up like the Griff - a permanant fixture. I can see a garage extension in our future plans. Suffolk Fox - will we see the Wedge at the next meet?
Same for me!
Footman James quote on their website "The company has been responsible for many important firsts and has pioneered the provision of Products Liability cover for kit car manufacturers, Road Rage Personal Accident cover and many of the features, i.e. Limited Mileage, Multi-vehicle Policies, Agreed Value, which are now taken for granted with Specialist Vehicle Insurance."
They say multi-vehicle policies but I've no experience of this, as has already been said, individual policies tend to work out cheaper.
Mark
Footman James quote on their website "The company has been responsible for many important firsts and has pioneered the provision of Products Liability cover for kit car manufacturers, Road Rage Personal Accident cover and many of the features, i.e. Limited Mileage, Multi-vehicle Policies, Agreed Value, which are now taken for granted with Specialist Vehicle Insurance."
They say multi-vehicle policies but I've no experience of this, as has already been said, individual policies tend to work out cheaper.
Mark
Big_M said:
Thanks for all the suggestions guys - think insurance companies should do something for us multi-car owners. It is not as if I can drive them all at the same time.
No, but while you're driving one car the others could be stolen or damaged in some way so there's still liability. In fact the only occasion when I've claimed on my insurance was as a result of vandalism when the car was parked.
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