Long term courtesy car insurance help!
Discussion
Hi all, first post but been reading for a while, hope someone can help here.
I've had a new car with large dealer on order for some time and they have basically ordered the wrong car. After much hassle they've agreed to give me loan car until my one arrives, which could be 3 to 4 months, however I might not have the same car for that length of time. The problem is they asked me to insure it and I agreed without looking into it too much, now I'm having major problems.
My plan was to put the policy in my wifes name, she cancelled her policy about 3 weeks ago, so no current insurance.I did a quote on compare.com for a full years cover and I was quite surprised that quite a few companies offered insurance and quite cheap. I entered Limited company as the registered owner and registered keeper (this being the dealer), and when asked when did we purchase I answered, not yet purchased (only option). This would produce a policy and insurance certificate as required by the dealer, however I'm not confident they have all the info, even though I answered all the question. Would the fact I've declared she does not own the car negate the purchase date question? No point in taking this if in the event of a claim they don’t pay.
I called my wifes previous company and explained the situation, the chap went away and asked his underwriting department, however they said they couldn't quote because she has “no insurable interest” in the car, which I understand. They said if she had an existing policy in place they could have added as an temporary car for a max 49 days.
I have insurance with ABC insurance via a broker, who are part of LV. They are looking into adding the loan car as a temporary car but are not sure if it is possible. They seem to think that the max duration was 28 days, to which I agreed. I'll be stuck without a car if this fails.
Sorry this is so long, but If anyone has any idea's how I can get this loan car insured or is it basically uninsurable? I’ve looked into these 1 to 28 day policy but way to expensive, £20 a day and more. Dealer says they can only insure for 7 days max.
Thanks in advance
I've had a new car with large dealer on order for some time and they have basically ordered the wrong car. After much hassle they've agreed to give me loan car until my one arrives, which could be 3 to 4 months, however I might not have the same car for that length of time. The problem is they asked me to insure it and I agreed without looking into it too much, now I'm having major problems.
My plan was to put the policy in my wifes name, she cancelled her policy about 3 weeks ago, so no current insurance.I did a quote on compare.com for a full years cover and I was quite surprised that quite a few companies offered insurance and quite cheap. I entered Limited company as the registered owner and registered keeper (this being the dealer), and when asked when did we purchase I answered, not yet purchased (only option). This would produce a policy and insurance certificate as required by the dealer, however I'm not confident they have all the info, even though I answered all the question. Would the fact I've declared she does not own the car negate the purchase date question? No point in taking this if in the event of a claim they don’t pay.
I called my wifes previous company and explained the situation, the chap went away and asked his underwriting department, however they said they couldn't quote because she has “no insurable interest” in the car, which I understand. They said if she had an existing policy in place they could have added as an temporary car for a max 49 days.
I have insurance with ABC insurance via a broker, who are part of LV. They are looking into adding the loan car as a temporary car but are not sure if it is possible. They seem to think that the max duration was 28 days, to which I agreed. I'll be stuck without a car if this fails.
Sorry this is so long, but If anyone has any idea's how I can get this loan car insured or is it basically uninsurable? I’ve looked into these 1 to 28 day policy but way to expensive, £20 a day and more. Dealer says they can only insure for 7 days max.
Thanks in advance
Casa1862 said:
....however I'm not confident they have all the info, even though I answered all the question. Would the fact I've declared she does not own the car negate the purchase date question? No point in taking this if in the event of a claim they don’t pay.
Absolutely - you really cannot rely on insurance where you haven't fully declared everything that may be relevant. The polcies are based on full disclosure. The web based systems only cope with the most standard of situations, anthing else requires you to talk to them.As mentioned above, the dealer's insurance should cover. What they might do is try to stuff you with a big excess - it's normally to waive this that they ask for £10-£15 per day when you take a courtesy car during servicing.
freakynessless said:
From an insurance point of view it really needs to be insured under the dealers policy. And, from a moral point of view it's their balls up that put you in this situation why should you be at any financial loss for their mistake? Get on the blower and have a rant at them!
good luck.
Exactly, I don't understand why they can't provide insurance for you unless?good luck.
Yes, the excess is a massive £20,000!
They say that the length of time is the issue and their policy only allows for maximum 7 days, however they mentioned that they are self insured that's why the excess is so high, so i would have thought this possible.
As you can imagine, getting a loan car for length of time was not easy, hence at the time I agreed to insure it, didn't think it would be a massive issue. As the new car will be leased I won't have three to four month lease costs to pay. It looks like the only option I have is with my insurance company as a temporary car, I'll find out tomorrow. I will asking the dealer again but just wanted some options if they don't provide cover.
They say that the length of time is the issue and their policy only allows for maximum 7 days, however they mentioned that they are self insured that's why the excess is so high, so i would have thought this possible.
As you can imagine, getting a loan car for length of time was not easy, hence at the time I agreed to insure it, didn't think it would be a massive issue. As the new car will be leased I won't have three to four month lease costs to pay. It looks like the only option I have is with my insurance company as a temporary car, I'll find out tomorrow. I will asking the dealer again but just wanted some options if they don't provide cover.
Right, you can not insure the vehicle and the dealer should know it. As stated by that insurance firm above, you have no insurable interest in the vehicle and that means that in the event of a claim they would pay out nothing, because you have no financial loss.
I assume that we are talking one of the dealers that are part of the big group named after Sir Arthur? Because this is the sort of thing they try on a regular basis. Go back and tell them that it is impossible for you to insure their vehicle and tell them its because you have no insurable interest in the car.
That should shock the s
t out of them and make them realise that you know what you are on about.
I assume that we are talking one of the dealers that are part of the big group named after Sir Arthur? Because this is the sort of thing they try on a regular basis. Go back and tell them that it is impossible for you to insure their vehicle and tell them its because you have no insurable interest in the car.
That should shock the s
t out of them and make them realise that you know what you are on about.nsmith1180 said:
Right, you can not insure the vehicle and the dealer should know it. As stated by that insurance firm above, you have no insurable interest in the vehicle and that means that in the event of a claim they would pay out nothing, because you have no financial loss.
I assume that we are talking one of the dealers that are part of the big group named after Sir Arthur? Because this is the sort of thing they try on a regular basis. Go back and tell them that it is impossible for you to insure their vehicle and tell them its because you have no insurable interest in the car.
That should shock the st out of them and make them realise that you know what you are on about.
Cheers, I thought that would be the case.I assume that we are talking one of the dealers that are part of the big group named after Sir Arthur? Because this is the sort of thing they try on a regular basis. Go back and tell them that it is impossible for you to insure their vehicle and tell them its because you have no insurable interest in the car.
That should shock the s
t out of them and make them realise that you know what you are on about.I take it this would be the same if I added it to my insurance as a temporary car. I'm asking as my insurance company thought it was possible and needed to check with their underwriters.
nsmith1180 said:
Right, you can not insure the vehicle and the dealer should know it. As stated by that insurance firm above, you have no insurable interest in the vehicle and that means that in the event of a claim they would pay out nothing, because you have no financial loss.
I'm not sure that can be correct - the OP is responsible for the well being of the car while it's in their control, hence that's their interest.The dealer's issue is that their insurance is 3rd party only - this is standard in the motor trade. Own damage is down to them and so is uninsured.
It's standard practice to add courtesy cars to your own insurance - indeed my policy with LV covers them automatically. The main problem for the OP is that he wants to do it in wife's name and she currently has no insurance.
Deva Link said:
nsmith1180 said:
Right, you can not insure the vehicle and the dealer should know it. As stated by that insurance firm above, you have no insurable interest in the vehicle and that means that in the event of a claim they would pay out nothing, because you have no financial loss.
I'm not sure that can be correct - the OP is responsible for the well being of the car while it's in their control, hence that's their interest.The dealer's issue is that their insurance is 3rd party only - this is standard in the motor trade. Own damage is down to them and so is uninsured.
It's standard practice to add courtesy cars to your own insurance - indeed my policy with LV covers them automatically. The main problem for the OP is that he wants to do it in wife's name and she currently has no insurance.
Deva Link said:
nsmith1180 said:
Right, you can not insure the vehicle and the dealer should know it. As stated by that insurance firm above, you have no insurable interest in the vehicle and that means that in the event of a claim they would pay out nothing, because you have no financial loss.
I'm not sure that can be correct - the OP is responsible for the well being of the car while it's in their control, hence that's their interest.The dealer's issue is that their insurance is 3rd party only - this is standard in the motor trade. Own damage is down to them and so is uninsured.
It's standard practice to add courtesy cars to your own insurance - indeed my policy with LV covers them automatically. The main problem for the OP is that he wants to do it in wife's name and she currently has no insurance.
Just because some dealers offer s
te service and force people to take on their risk, and the insurance companies take it, doesnt mean its right.nsmith1180 said:
Deva Link said:
nsmith1180 said:
Right, you can not insure the vehicle and the dealer should know it. As stated by that insurance firm above, you have no insurable interest in the vehicle and that means that in the event of a claim they would pay out nothing, because you have no financial loss.
I'm not sure that can be correct - the OP is responsible for the well being of the car while it's in their control, hence that's their interest.The dealer's issue is that their insurance is 3rd party only - this is standard in the motor trade. Own damage is down to them and so is uninsured.
It's standard practice to add courtesy cars to your own insurance - indeed my policy with LV covers them automatically. The main problem for the OP is that he wants to do it in wife's name and she currently has no insurance.
Just because some dealers offer s
te service and force people to take on their risk, and the insurance companies take it, doesnt mean its right.Casa1862 said:
I've looked at my policy document and it seems to cover for courtesy car IF yours is in for repair or service, this is not the case.
Yes, I knew there was that limitation, but the broader point is that LV's policies do cover courtesy cars, and, with any insurance company if you take a bodyshop coutesy car while yours is in for repair after an accident then your driving it on your own insurance. These points, logically, make nsmith1180's comments incorrect.It doesn't help you as it's limited to 28 days cover, but Aviva's short term cover says:
"Under what circumstances would I need short term car insurance?
Short term car insurance is designed for customers who require cover from 1 to 28 days, and is available for both cars and vans. It is ideal if you need temporary cover on a friend's car if you want to take a test drive in a new vehicle."
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