Multicar Policy - confused

chuckalicious_2

Hi everyone. Hope someone can help clarify this for me.

My wife and I each have a car. I use mine for pleasure only and my wife mostly commutes in hers. She has her own insurance policy and I have one of my own for my car, but she is a named driver on my policy so she can drive my car too.

Until now I haven't been insured on hers as its quite powerful and ive only had my licence coming up for 2 years so premiums were just silly.

However now it would be useful for me to be able to use her car too.

So what I would like to know is:

Do we each have to have our own policies with the other person as a named driver? I have had a couple of "multicar" quotes which seemed much higher than 2 individual policies with named drivers.

This big discrepancy makes me wonder if I'm doing it right!

Thanks all

Nathanparkes

Have you checked the terms of your own policy? Some policies will cover any policy holder over the age of 25 to be covered third party whilst driving a car (with permission) that does not belong to them. If not, you can name eachother on each policy. Sometimes, it can lower your premiums to have a more experienced driver named on your policy.

hcb42

Yes two policies with the other as named driver is the normal way to go, and you both build up your N c b

forgotmyname

Multicar policies are not always cheaper. Not seen the figures but i think it would be a high percentage that find its no better.

2 separate policies. Both with named drivers is the way to go. Unless you can find a multicar polict thats good and cheaper.

chuckalicious_2

Thanks for the clarifications. That's as I suspected then.

We both want to have fully comprehensive cover so I think we'll go for 2 policies with named drivers.

Thanks again

Paloma_Dulce

I got a quote for a multicar policy once, and the saving was something ridiculous like £5!!

forgotmyname

Why is that ridiculous? Sometimes it costs more.

keith1950

Hi, I find that the first year with a company on multicar tends to be cheaper ( new customer discount? ) but come renewal time it shoots up so I usually change insurers every year to keep the cost down.

This year I am with Aviva and my combined renewal for both cars together came to £455.

I went online and found separate quotes with different insurers of £220 and £138 ,total £358.

I then rang Aviva who eventually matched this price and threw in £30 worth of shopping vouchers.

Although not as cheap as I have sometimes managed in the past I consider a net combined price of £328 not too bad for 2 cars.

I could have probably found them even cheaper elsewhere but this year I couldn't afford the time to keep searching.

Paloma_Dulce

Surely the point of multi car policies is that it works out cheaper for you? Whilst they get double the business.

Gavin_C

Paloma_Dulce wrote: »

Surely the point of multi car policies is that it works out cheaper for you? Whilst they get double the business.

It may work out cheaper for you

... but it gives the provider a great USP to confuse you with some clever marketing