Insurance question
Discussion
I wish to borrow a family members VW Transporter camper van and had intended to be added to her insurance policy for a 2 week period. It turns out her insurance provider only cover those over 30 years of age and I am 28 so this will not be possible. I have a fully comp policy on my own car which I thought may provide 3rd party cover; it does, but only for cars and not a van. So my question is what is the best way around this? Can I take out a short term policy to cover use of the van for a week or two? I am unclear as to whether you can have 2 polices on the same vehicle, i.e my relatives policy on the van plus an additional short term policy for myself. Any help much appreciated. Thanks
HantsRat said:
Yes you can have more than 1 policy on the vehicle. It will however work out cheaper if you take out a full year policy but cancel within the 14 day period. You will only be charged for the period you used and for most insurers, there are no cancellation fee's in the 14 day period.
That's piss poor advice and advising people on how to milk the system. LoonR1 said:
That's piss poor advice and advising people on how to milk the system.
No it's not. If you only require insurance for a week. It is much much cheaper to take out insurance for a year and then cancel within the 14 days compared to these short term insurance companies. It's not 'milking the system' as it's perfectly legal and you are fully covered in this time. Just did a rough quote from Tempcover for 14 days. It comes to £180!!
Edited by HantsRat on Friday 11th September 13:34
HantsRat said:
No it's not. If you only require insurance for a week. It is much much cheaper to take out insurance for a year and then cancel within the 14 days compared to these short term insurance companies. It's not 'milking the system' as it's perfectly legal and you are fully covered in this time.
Just did a rough quote from Tempcover for 14 days. It comes to £180!!
It's milking the system as that is not what the 14 day cooling off period is for. Why were you so upset at the Motor Trader selling spots on his policy for peanuts? It's only getting cover in a different way to the norm. Just did a rough quote from Tempcover for 14 days. It comes to £180!!
Edited by HantsRat on Friday 11th September 13:34
Whether or not the 14 day period is designed for it or not, it is a perfectly legal way to insure a car for a short time. As for the motor trader, that's completely different. He is not an insurance company and was selling insurance. It's fraud. Do you think he declared his earnings and paid taxes on the money he made selling places on his trade policy?
Edited by HantsRat on Friday 11th September 13:54
HantsRat said:
Whether or not the 14 day period is designed for it or not, it is a perfectly legal way to insure a car for a short time. As for the motor trader, that's completely different. He is not an insurance company and was selling insurance. It's fraud. Do you think he declared his earnings and paid taxes on the money he made selling places on his trade policy?
It's fine. There is a phrase though where the minority spoil it for the majority. People are already frustrated that a number of policies don't offer DOC, that's because it's been abused in the past. Whilst the 14 day cooling off period is a regulatory piece, it could be altered to take account of certain scenarios. The insurer is also extremely unlikely to be keen on the OP being neither owner, nor registered keeper of the vehicle that he wants to insure. Edited by HantsRat on Friday 11th September 13:54
How do you propose he approaches that side?
LoonR1 said:
It's fine. There is a phrase though where the minority spoil it for the majority. People are already frustrated that a number of policies don't offer DOC, that's because it's been abused in the past. Whilst the 14 day cooling off period is a regulatory piece, it could be altered to take account of certain scenarios. The insurer is also extremely unlikely to be keen on the OP being neither owner, nor registered keeper of the vehicle that he wants to insure.
How do you propose he approaches that side?
Just did a quick money supermarket quote, there are plenty of insurers who would insure me on a VW camper without being the owner or registered keeper. Yes the 14 days cooling off period wording could change but at the moment it's completely legal and a lot cheaper to use this as a way to insure a vehicle short term. The insurance companies still get paid for the period of cover you used. How do you propose he approaches that side?
HantsRat said:
Just did a quick money supermarket quote, there are plenty of insurers who would insure me on a VW camper without being the owner or registered keeper. Yes the 14 days cooling off period wording could change but at the moment it's completely legal and a lot cheaper to use this as a way to insure a vehicle short term. The insurance companies still get paid for the period of cover you used.
Plus an admin fee, which could involve another thread about it being too high. LoonR1 said:
Plus an admin fee, which could involve another thread about it being too high.
Nope. Most do not charge an admin fee within the 14 day period. I recently cancelled an M&S policy on the 10th day. There was no admin fee and I only paid for the 10 days I used and had the rest of the years premium refunded back onto my card. HantsRat said:
Yes you can have more than 1 policy on the vehicle. It will however work out cheaper if you take out a full year policy but cancel within the 14 day period. You will only be charged for the period you used and for most insurers, there are no cancellation fee's in the 14 day period.
But if you have a claim in the 14 days, you won't get any refund, and will be stuck for the full annual charge. Whereas if you'd taken out a legitimate short period policy, you won't have that issue.HantsRat said:
LoonR1 said:
Plus an admin fee, which could involve another thread about it being too high.
Nope. Most do not charge an admin fee within the 14 day period. I recently cancelled an M&S policy on the 10th day. There was no admin fee and I only paid for the 10 days I used and had the rest of the years premium refunded back onto my card. What do you advise the OP does with his NCD that's being used on his car at the moment. Does he use this on this policy as well?
Op have you spoken to your own insurance company about having the car added to your existing policy, ive done this before pro-rata speaking its been pretty average. It might be worth seeing what the insurance cost would be for a full year for the vehicle and dividing it by 26 to give you an expectation of what you should be paying, don't forget you will have to pay an admin fee.
HantsRat said:
No it's not. If you only require insurance for a week. It is much much cheaper to take out insurance for a year and then cancel within the 14 days compared to these short term insurance companies. It's not 'milking the system' as it's perfectly legal and you are fully covered in this time.
Just did a rough quote from Tempcover for 14 days. It comes to £180!!
If the OP needs to claim in the 14 days, the policy will end up costing him many multiples of £180.Just did a rough quote from Tempcover for 14 days. It comes to £180!!
Edited by HantsRat on Friday 11th September 13:34
I recently got a quote from Adrian Flux for a car I have changed the engine in , and have some other work to complete before it is ready for the road .
The aspect of their policy which impressed me , besides the very reasonable price quoted , was that it provided DOC cover which was fully comprehensive for any car borrowed with the owner's permission . Now , that is just the result of a telephone conversation and I've seen nothing in writing yet , so with the word 'car' being used , it may not cover a camper van , then again if you ask specifically .... ?
The aspect of their policy which impressed me , besides the very reasonable price quoted , was that it provided DOC cover which was fully comprehensive for any car borrowed with the owner's permission . Now , that is just the result of a telephone conversation and I've seen nothing in writing yet , so with the word 'car' being used , it may not cover a camper van , then again if you ask specifically .... ?
Gassing Station | Speed, Plod & the Law | Top of Page | What's New | My Stuff