Multicar / fleet policies: when are they worthwhile?

[rix]

Currently have a modified Monaro and my wife a very straight-astra diesel, currently on separate policies. If I bought an additional car (maybe a cheap soft top etc) is it likely to be of any benefit in trying to wrap up the three into a single policy? when does it break even?

Alternatively what sort of premium could i expect on something like a 15 year old mx5, boxster, s2000 etc as a second car of my own? (mid 30s, reasonable postcode, max NCB, all clean etc)

[kiethton]

Its a how long is a piece of string question

You won't know until you get some quotes, also check the NCB issue, if its in use elsewhere you may not be able to use it on the new car (although some co's will mirror this)

[vikingaero]

Agree. Sometimes 3 cars still won't make a difference as some Insurers require risk spread or insurable value.

For instance: We have a family fleet policy under which 6 cars are currently insured. The total premium is c.£2,500 per annum (fully comp, protected NCD) and has only increased by £300 over the last 10 years. When I joined the policy with my Golf GTi years ago I was paying £1,400 alone.

The current fleet is:

(1) Merc E63
(2) Merc A(something or other)
(3) BMW 520d
(4) Mini Cooper
(5) Mini One
(6) Nissan Micra

The biggest advantages are:
(1) Not having to deal with 6 renewals
(2) All listed drivers can drive ANY of the listed cars fully comp.
(3) All 4 main policyholders can drive ANY car fully comp up to a certain limit (£100k?)

The biggest disavantage is that you don't get £50/£100 excesses that you do on personal policies. The lowest excess is £300 and the highest on the E63 is £750.


It's certainly worth getting a quote, but with my own cars one of my Insurers mirrored my no-claims and gave a 10% discount so a multi/fleet policy wasn't worthwhile (premiums of £280, £200 and £130).

[The Moose]

Which company is that policy with?

[miniman]

In my experience it varies year to year - one year Admiral Multicar was a good bit cheaper, the following year the same cars were covered cheaper individually. Sadly it means you still have to shop around at renewal time.

[vikingaero]

The Moose said:

Which company is that policy with?

Not sure now as I've taken a step back from the family firm. Towergate or Pace Ward?