Two insurance policies on same car - any potential issues?
Discussion
2 sMoKiN bArReLs said:
I'm not an expert (in anything 
)
But, isn't a fundamental of insurance that you must have an insurable interest in the thing you insure?
That is to say have a financial stake in the car?
for completeness when insuring *yourself* on a car you are insuring against potential loss for others not just the value of the car so it is not quite the same. Even if you go third party only you aren't even insuring the car then.)But, isn't a fundamental of insurance that you must have an insurable interest in the thing you insure?
That is to say have a financial stake in the car?
simon_harris said:
2 sMoKiN bArReLs said:
I'm not an expert (in anything )
But, isn't a fundamental of insurance that you must have an insurable interest in the thing you insure?
That is to say have a financial stake in the car?
for completeness when insuring *yourself* on a car you are insuring against potential loss for others not just the value of the car so it is not quite the same. Even if you go third party only you aren't even insuring the car then.)But, isn't a fundamental of insurance that you must have an insurable interest in the thing you insure?
That is to say have a financial stake in the car?
AI Overview -
Yes, you can have two insurance policies on one car, and it's not illegal, but it's usually unnecessary and complicates claims; you can't claim double the payout for the same loss (that's fraud), and insurers share data to prevent it, often splitting claims through a "contribution clause," making payouts slower and costlier, so it's generally best avoided unless for specific situations like adding a high-risk learner driver with a separate, temporary policy.
Yes, you can have two insurance policies on one car, and it's not illegal, but it's usually unnecessary and complicates claims; you can't claim double the payout for the same loss (that's fraud), and insurers share data to prevent it, often splitting claims through a "contribution clause," making payouts slower and costlier, so it's generally best avoided unless for specific situations like adding a high-risk learner driver with a separate, temporary policy.
2 sMoKiN bArReLs said:
I'm not an expert (in anything )
But, isn't a fundamental of insurance that you must have an insurable interest in the thing you insure?
That is to say have a financial stake in the car?
He's definitely got an insurable interest. I've told him he'll be paying for a new clutch! )But, isn't a fundamental of insurance that you must have an insurable interest in the thing you insure?
That is to say have a financial stake in the car?
Countdown said:
2 sMoKiN bArReLs said:
I'm not an expert (in anything )
But, isn't a fundamental of insurance that you must have an insurable interest in the thing you insure?
That is to say have a financial stake in the car?
He's definitely got an insurable interest. I've told him he'll be paying for a new clutch! )But, isn't a fundamental of insurance that you must have an insurable interest in the thing you insure?
That is to say have a financial stake in the car?
2 sMoKiN bArReLs said:
I'm not an expert (in anything )
But, isn't a fundamental of insurance that you must have an insurable interest in the thing you insure?
That is to say have a financial stake in the car?
You have an insurable interest in the car if you will be required to pay for any damage you cause while driving it. So it depends how forgiving Dad is, I guess!)But, isn't a fundamental of insurance that you must have an insurable interest in the thing you insure?
That is to say have a financial stake in the car?
As someone has mentioned, you definitely have an insurable interest in your liabilities to other people which might arise out of your use of the car, which is the only thing that you are legally required to have insurance to cover.
Countdown said:
One of my kids is (finally) learning to drive and has asked if he can be insured on his mum's car.
The current policy is with SAGA and they have declined to add him to her policy for unknown reasons.
is there any reason why he couldn't or shouldn't get his own standalone policy?
Try Veygo, though price wise they're more geared towards ad-hoc (the odd hour here, two hours there). One of my pupils covered his own car for two months using Veygo, and I've used them plenty of times too.The current policy is with SAGA and they have declined to add him to her policy for unknown reasons.
is there any reason why he couldn't or shouldn't get his own standalone policy?
Veygo and Marmalade are both designed to be used where the main policyholder wants to protect against the risk of a claim whilst someone is learning to drive in that car, so no issues having the SAGA policy and then having the Veygo/Marmalade policy for the learner
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