Applying for named driver on brother's policy to extend the valuidity of no-claims?

Megatonks

Wow thanks very much for all the responses guys. Brilliant stuff.

I don't really have access to a car from anyone that isn't already insured. Can one car be on two individual policies? As in, can i take out insurance on my brother's car, that he's already fully insured on?

Ill shop around for cheap policies i think.

Isn't it pretty much the law that I can cancel insurance within 30 days and not get charged for cancellation?

Looksguywalker

Megatonks wrote: »

Wow thanks very much for all the responses guys. Brilliant stuff.

I don't really have access to a car from anyone that isn't already insured. Can one car be on two individual policies? As in, can i take out insurance on my brother's car, that he's already fully insured on?

Ill shop around for cheap policies i think.

Isn't it pretty much the law that I can cancel insurance within 30 days and not get charged for cancellation?

What law is that? If you pay £500 for the year and cancel after 28 days how much do you expect to get back?

InsideInsurance

Megatonks wrote: »

Isn't it pretty much the law that I can cancel insurance within 30 days and not get charged for cancellation?

Not at all. The law is that all regulated general insurance must have a 14 day cooling off period during which it CAN be cancelled. There is no requirement for the cancellation to be free of charge. After the cooling off period there is no legal requirement for an insurer to allow you to cancel the policy at all, though it would go against one of the TCF tenants.

In practice the core policy is cancellable throughout its life (assuming no fault claims) but the add ons like Legal Expenses are often only able to be cancelled during the cooling off period after which they are payable in full.

thenudeone

bouncyd!!! wrote: »

Don't you have to have a car to purchase an insurance policy - there needs to be subject matter of insurable interest.....

You CAN insure yourself to drive a car that belongs to someone else, even if they have their own policy on it. If you borrow their car and trash it, they'll expect you to replace it (and could probably sue you for it if it was your fault), which clearly demonstrates an insurable interest.

Insurance like this happens all the time and is exactly what short-term insurance is designed to cover, so it is NOT illegal, like some people think.

However, I'm not sure you'd get a new NCD letter if you cancelled the policy in the cooling off period. It may be better to buy a very old banger and get a classic car policy, to keep the NCD alive.

vaio

except most (all?) classic car policies don't accept or generate NCB

Megatonks

Looksguywalker wrote: »

What law is that? If you pay £500 for the year and cancel after 28 days how much do you expect to get back?

Sorry, I wasn't aware that insurance companies have such different laws than goods retailers. I was referring to the 30 day return & full refund policies that a lot of retailers have to have.

Hmm, this sounds like it's a lot trickier than i thought.

I'm going to new zealand which potentially could be for a while, so buying a vehicle with insurance is an option. Perhaps ill just have to use my NCB there and extend it there.

Thanks for all the feedback guys.