car insurance laws
Discussion
Sounds ridiculous, and I'm embarrassed to be asking, but I'd be grateful if someone could clarify for me the laws on car insurance!
For the first time in my life, I'm without a car at insurance renewal time later this week, having sold my TVR at the end of last year. I will need to buy a new car in the next couple of months when my wife returns to work, but in the meantime what is the best approach:
1. Should I allow my existing policy to expire, and drive my wfe's car as a named driver?
Is this legal, or must each driver have their own insurance (i.e. individual must be insured rather than the car?). Also, if I let the current policy expire, will it mean I lose my no claims entitlement when I re-insure, or is there an agreement between companies to honour the claim-free history?
2. Should I renew my current policy just to keep it ticking along and reduce admin when I get a new car? This would have to be on on my wife's car, which would mean it's insured twice - is that legal?
3. Should I do something else? (like maybe stop dithering and buy a new car quickly!)
For the first time in my life, I'm without a car at insurance renewal time later this week, having sold my TVR at the end of last year. I will need to buy a new car in the next couple of months when my wife returns to work, but in the meantime what is the best approach:
1. Should I allow my existing policy to expire, and drive my wfe's car as a named driver?
Is this legal, or must each driver have their own insurance (i.e. individual must be insured rather than the car?). Also, if I let the current policy expire, will it mean I lose my no claims entitlement when I re-insure, or is there an agreement between companies to honour the claim-free history?
2. Should I renew my current policy just to keep it ticking along and reduce admin when I get a new car? This would have to be on on my wife's car, which would mean it's insured twice - is that legal?
3. Should I do something else? (like maybe stop dithering and buy a new car quickly!)
Technically you cannot have a policy on a car that you have sold. However, you may be able to carry your no claims bonus over for up to 2 years. That said I would ring your insurance comapny and get them to put it in writing. Then when you get your new car you shuld be able to carry over any NCB you have.
I was without my own car for 15 months and have always been a named driver on my wife's policy and vice versa. My new insurers have given me my full NCD after confirmation from my old insurers was provided. Your NCD is valid for 2 years even if you don't have a car insured in your name during that time or are a named driver on another policy.
duff-man said:
Had me worried for a moment! I did inform my insurance co that I had sold the car, but I kept the policy open as I had anticipated buying a replacement quite quickly. Unfortunately I'm a ditherer and can't decide what car to buy!Grey Ghost said:
I was without my own car for 15 months and have always been a named driver on my wife's policy and vice versa. My new insurers have given me my full NCD after confirmation from my old insurers was provided. Your NCD is valid for 2 years even if you don't have a car insured in your name during that time or are a named driver on another policy.
So, if I understand correctly, I can just let this policy expire, and still drive under my wife's policy.as far as I no (experience not expert) NCB will be valid for 2 years by most insurance company's, Drive wife's car as a named driver ok, you can not insure a car twice or insure a car you dont own, Be carfull as being a named driver as oppose to having policy in your name you wont be covered to drive other cars TPFT,(when doing test drives)
if IM wrong im sure this will be corrected but iv insured quite a few cars over the years and swapped added, changed many a policy
if IM wrong im sure this will be corrected but iv insured quite a few cars over the years and swapped added, changed many a policy
WorAl said:
Why dont you just suspend your insurance until you get a new car? then transfer it over. NCB is valid for 2 years and you can suspend your insurance indefinitely.
Just done this. your ncb can be valid for up to 3 years depnding on the underwriters. Esure give you 2 years Aviva allow you 3.Gassing Station | General TVR Stuff & Gossip | Top of Page | What's New | My Stuff