Managing ownership of several vehicles.

[SebastienClement]

Right, the sister and I own several cars between us. We'd like to pool our ownership of them, and have a sort of "fleet" between us. There are already a few planned additions. We both agree that we want some soft of agreement on who owns what and that we also need to think about insurance cover for all vehicles.

I assume, insurance wise, a traders policy might do what we're looking for?

And as for ownership, a 50:50 split is all we're really looking for. We'll each pay half of everything. I already have a heated and dry unit where I store my other cars, so we'll be keeping them all there.

Has anyone done similar? I just want to avoid any issues if either of us turns into a tt.

[Roo]

SebastienClement said:

I assume, insurance wise, a traders policy might do what we're looking for?

Only if you're in the motor trade.

[Fubar1977]

I suspect, if you are not a trader, you would need a multi-car insurance policy and to have a solicitor draw up a legally binding agreement as to who owns what.

[SebastienClement]

Fubar1977 said:

I suspect, if you are not a trader, you would need a multi-car insurance policy and to have a solicitor draw up a legally binding agreement as to who owns what.

I see. Are we talking stuff like admiral multicar here?

[Truckosaurus]

Some of the Classic Car insurance specialists have products geared towards collections of cars.

I recall Harry Metcalfe off of EVO magazine discussing such things in his various long term test reports (specifically lowering the premium on his Zonda by agreeing not to do drive it over the winter), there might be something on their website archives.

Edited by Truckosaurus on Monday 26th November 15:57

[falkster]

SebastienClement said:

I see. Are we talking stuff like admiral multicar here?

Admiral will work but if they are classics you won't get the sand deal as you would via a specialist classic insurer.

[Adrian E]

SebastienClement said:

I see. Are we talking stuff like admiral multicar here?

Yes, in essence. Depending on number and values there are specialist underwriters that will cover them - bit of googling should get you some names but worth talking to your existing insurers to see what they can do

[SebastienClement]

Useful info! Excellent, will do some googling!

[Monkeylegend]

But you are brother and sister, what could possibly go wrong?

You know what they say, never go into business with family and friends.

What is the Austin 1400 you have, didn't realise they built a 1400? Or has it been modified? I assume it is like the Austin 1100/1300?

[SebastienClement]

Monkeylegend said:

But you are brother and sister, what could possibly go wrong?

You know what they say, never go into business with family and friends.

What is the Austin 1400 you have, didn't realise they built a 1400? Or has it been modified? I assume it is like the Austin 1100/1300?

It's an 1100!!! I thought I had edited my garage to read it correctly after someone else pointed it out :/