How do you insure a 3rd car?

[George Coulthard]

Some advice please...

My wife and I have two cars between us and we each have our own individual no calims bonus. If I buy a Caterham for high days and holidays how do I insure that car as cheaply as possible? The problem to my mind being that I believe you can only use your no claims discount on one policy at a time.

Is there a way around this or do I have to insure the Caterham without any no claims discount?

[dazren]

Maybe an idea asking on the Caterham forum?

I seem to remember someone telling me they insured a Caterham through a company that recognised the car as a second car and accordingly charged peanuts for cover.

DAZ

>> Edited by dazren on Sunday 5th March 20:35

[shnozz]

most specialist insurers recognise the fact the driver will have a main policy on another vehicle and offer a discount as a sort of mirror of the NCB.

I use my NCB on the daily celica and then get an introductory bonus on the lotus (which effectively is the same as my NCB)

I can strongly recommend Competition Car Insurance for Lotus/Caterhams.

[m1spw]

Slightly O/T, but does a car have to be insured by someone? So for example could this guy but the Caterham and drive it on his current policy under the third party cover on other cars?

Or would that be insurance fraud?

[boots_n_braces]

m1spw said:

Slightly O/T, but does a car have to be insured by someone? So for example could this guy but the Caterham and drive it on his current policy under the third party cover on other cars? Or would that be insurance fraud?

I was just thinking that! I know my dads policy covers him any other car under 3 litres- so effectivley he can drive a 600bhp skyline day in day out and pay the premium for a an e class tdi estate

[shnozz]

m1spw said:

Slightly O/T, but does a car have to be insured by someone? So for example could this guy but the Caterham and drive it on his current policy under the third party cover on other cars? Or would that be insurance fraud?

it would have to remain owned by someone else.

[Pat H]

m1spw said:

Slightly O/T, but does a car have to be insured by someone? So for example could this guy but the Caterham and drive it on his current policy under the third party cover on other cars?

My insurance entitles me to drive any car not belonging to me TPO.

There is no requirement that the car in question is insured by anyone.

But it is only covered by my insurance whilst I am driving it.

So as soon as I park it on a highway and walk to the shops, the car is no longer insured and the owner of the car is then committing the offence of no insurance.

In short, don't bother.

[m1spw]

shnozz said:

m1spw said: Slightly O/T, but does a car have to be insured by someone? So for example could this guy but the Caterham and drive it on his current policy under the third party cover on other cars? Or would that be insurance fraud? it would have to remain owned by someone else.

But does the car owner have to insure it? So could this guys wife have the car in her name but not insure/drive it, and then he drives it?

[Pat H]

m1spw said:

But does the car owner have to insure it? So could this guys wife have the car in her name but not insure/drive it, and then he drives it?

As long as he doesn't park it on a highway, then yes.

[boots_n_braces]

Jesus christ my heads flying round this loop hole, Im looking for a track car atm and this setups gonna let me drive it there and back without paying more than shopping trolley insurance for it!

The war with insurance companys wages on

[peanutjb]

On my insurance policy, Im covered third party on any car as long as its fully insured in someone else's name if that makes sense. So I couldnt just buy another car, not insured under anyones name, and then drive it on my policy.

All I can suggest is reading your policy very carefully before you try and work this.

[2 sMoKiN bArReLs]

Most "clever" schemes come to grief. One golden rule in motoring is "don't feck about with your insurance".

[2 sMoKiN bArReLs]

George Coulthard said:

Is there a way around this or do I have to insure the Caterham without any no claims discount?

Shop around, some will give introductory discounts. Alternatively, if one of the others cars is lower risk, use the NCB on the Caterham, and start again with t'other car.

[Pat H]

peanutjb said:

All I can suggest is reading your policy very carefully before you try and work this.

This is good advice.

My policy once entitled me to drive any motor vehicle TPO (which included motorbikes.....) providing that it was not owned or hired to me.

When I was a young lad I had many months of fun hammering around on Dad's Kawasaki GPZ750, whilst covered only by virtue of my own insurance on a Mini 1000.

Many modern policies are much more carefully and sensibly worded.

My own insurance company recently varied the terms of the "driving other vehicles" clause so that I am now only entitled to drive any "car" not belonging to me.

My policy makes no requirement that the car being used be separately insured. Does yours?

It is a fudge, a loophole and only a means of avoiding a conviction for driving without insurance.

It is not a sensible way of avoiding the financial burden of properly insuring your vehicle.

[shnozz]

The other thing to consider is that usually the driving any cars clause is age specific.

[Nacnud]

Last time I got a tax disc at a post office they didn't even look at my insurance documents; the computer told them I was insured.

I suspect you'll struggle to get a tax disc unless the computer 'knows' the car is insured.

[baskey]

i'd have a look at admiral's multicar policy affair. it's been mentioned on here recently so do a search.

it's very obvious on the admiral website. worth doing a desktop exercise and filling in all of your details and making up a caterham to insure... it's worth a look anyway!

[Shaun_E]

A Caterham will cost you peanuts to insure anyway compared with a normal road car. My Caterham insurance was until a recent power hike, about £300 a year. The company I am with insures based on power output but others are based solely on engine size. Shop around amongst the usual suspects - Egger Lawson, MSM, Adrian Flux, Footman James and I've heard of a new one called Hagerty I think. Do a search on Blatchat in case I've missed any.

[Antony Moxey]

I have insurance on my Audi and a seperate policy for my Tiger Super Six. When I started the policy for the Six I asked about no claims and they simply wanted proof that I wasn't telling porkies. I faxed them a copy of my renewal quote for my Audi and got the same full no claims on my Tiger insurance as well. The fact that it weighs 600kg and had an 160bhp engine in it and does 0-60 in a little over five seconds seems a mere trifle as the premium was a mere £200 fully comp for 6k annual mileage, garaged and valued (by me) at £9k.

[benyeats]

I don't think I even had to show any proof of NCB for my Atom insurance. For limited milage second car policies they give you an introductory discount anyway so it does not cost much vs performance.

Ben