Insuring two cars

pinkshoes

I have a small car (KA), which is insured (paid full balance) until 15 Sept 2011.

My OH has a car, but it died the other day, and the repair bill is over twice the value of the car, so not worth it. Renewal is up 10 Sept 2010, so obviously he won't be renewing, and car is being scrapped. In the mean time, he's using my car, as I'm on maternity leave (due 5 days ago!) and can manage without.

Thing is, my car is teeny tiny, and certainly not suitable for a family car... I have the chance to buy a family car (5 door Astra - girly engine size!) from a friend for a good price, which I would like to be MY car in my name.

OH will also get a new car at some point (faster car), but is rather picky over what he wants, so it'll take a little longer to find. We would then use KA as trade in, as it would fetch a similar price as a private sale.

So, should I:

A) insure the Astra myself as a second car (with OH being a named driver), which would mean cancelling my KA policy when OH part x'd it for something he wanted, and he'd take out insurance on his new (faster) car.

or

OH insuring the Astra (but me being the owner), then changing car over on insurance policy when he gets his new faster one, and me changing the KA over to the Astra on my policy.

Which costs more - cancelling a policy, or changing a car over to another one?

I tried phoning my insurance company to ask, but got bored on hold!

I hope that makes sense. Being so pregnant makes my brain mushy!

Edit: do they give discounts for insurance on two cars?? And I'm now thinking I can't apply my no claims years on two policies????

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Some companies do what's called a second car discount (or third car in your case) which means if you meet certain criteria (claim/conviction free etc) they might duplicate or mirror your existing NCD. A decent broker would be able to source an insurer who does this, or some direct companies do too. I'm even led to believe that some internet sites might offer something similar.

However, if your plan is only ever to have two cars - long term, then the best bet is likely to be simply changing the vehicle on your husband's policy for the new "family" vehicle. The expense absolutely depends on all number of factors but, in principle, unless there is a fundamental difference in the cover on your policies, one change of vehicle to one policy would almost definitely be the most cost effective option for you.

mikey72

Probably the cheapest option is to change your policy to the Astra, then let your husband insure the Ka, them change that policy when he wants to. You as owner/keeper of both.
Get some quotes for his new car first though, before he decides who to insure the Ka with.
(assuming you're going to be main driver of the Astra, and he'll drive the Ka until he swops)

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Two changes is likely to mean two admin fees. Hence my one-change suggestion.

mikey72

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Two changes is likely to mean two admin fees. Hence my one-change suggestion.

How does one change work if they're both changing cars?
You'll have to spell it out I'm afraid.

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Not sure. It's late. They're keeping the KA and want to insure the ASTRA, yes? The KA is already insured, so just change the other policy for the Astra. If the KA goes in the future, your suggestion would mean three changes have taken place.

pinkshoes

Thanks for the replies!

Spoke to my insurance eventually, and it's too expensive for me to also insure the Astra (as they won't apply No Claims discount), so my OH will have to insure it for now (and I'll let him drive it, because I'm nice, and it does more MPG for his commute). Turns out his policy actually expires tomorrow, so no change needed.

He'll then part X my KA when he finds a more suitable manly car, and we'll then make the two changes to the insurance.

I was planning on changing my KA anyway this year, but we just weren't anticipating his car dying on us. Lousy timing, but that's life!