Big insurance problem when buying 2nd hand cars

InsideInsurance

You have a number of options:

1) Have both vehicles insured under the same policy, most insurers allow you to add a Temporary Additional Vehicle and so you can either just add the new car as a TAV and switch over when you've sold the old one or switch over and add the old one back as the TAV. The downside is you need to specify an end date for the TAV and will be charged an Admin fee. If you dont sell it on the specified date then often there will be another admin fee to remove it early or to extend the date

2) Temporary insurance - buy short term insurance on one of the vehicles. Day rates are much higher and so may or may not be cheaper than option 1. Be careful that the insurance doesnt require another policy to also be in force on the vehicle as a couple do.

In addition to 2 some car dealers give 7 days free insurance with a new car so can give the overlap required.

The final option is to use one of the above to get it home and then SORN it but that will cause problems with test drives etc.

Strider590

Starting to see why these "we buy any car" type car buying services started to pop up out of nowhere.

If I got another car and tried to sell my old one, the extra insurance would cost nearly as much as the car is worth, leaving just 3 options....... a) sell it to a car buying service or b) send it to a scrap yard c) don't insure it and get a hefty fine from the scum at the DVLA.

System

is there any particular reason you want to stay with the current insurers?
I had this issue recently but found I could get a cheaper deal elsewhere for the new car so just started a new policy for the new car and then sold the old car and cancelled the insurance and got the remaining premium back...
turned out it was only for a day overlap, but that was just luck!

Strider590

the_r_sole wrote: »

is there any particular reason you want to stay with the current insurers?
I had this issue recently but found I could get a cheaper deal elsewhere for the new car so just started a new policy for the new car and then sold the old car and cancelled the insurance and got the remaining premium back...
turned out it was only for a day overlap, but that was just luck!

But you wouldn't have the NCB on your new policy...... You can't use it twice.

Foxy-Stoat_3

InsideInsurance wrote: »

You have a number of options:

1) Have both vehicles insured under the same policy, most insurers allow you to add a Temporary Additional Vehicle and so you can either just add the new car as a TAV and switch over when you've sold the old one or switch over and add the old one back as the TAV. The downside is you need to specify an end date for the TAV and will be charged an Admin fee. If you dont sell it on the specified date then often there will be another admin fee to remove it early or to extend the date - His insurers say NO

2) Temporary insurance - buy short term insurance on one of the vehicles. Day rates are much higher and so may or may not be cheaper than option 1. Be careful that the insurance doesnt require another policy to also be in force on the vehicle as a couple do. - The OP would have to pay lots of money for this cover

In addition to 2 some car dealers give 7 days free insurance with a new car so can give the overlap required. - OP is buying a private car

The final option is to use one of the above to get it home and then SORN it but that will cause problems with test drives etc. - OP doesn't have anywhere to keep the car off the road or know anyone with a spare driveway

Careful...the OP doesn't like it posters don't read their posts properly !!!

System

Strider590 wrote: »

But you wouldn't have the NCB on your new policy...... You can't use it twice.

I had 28 to provide the ncb documents and didn't have any problem with it - guess it could be an issue if the car didn't sell for a long time - also depends on the value of the ncb against the cost of temporary insurance

InsideInsurance

Foxy-Stoat wrote: »

Careful...the OP doesn't like it posters don't read their posts properly !!!

A lot of people dont like me, comes with the job, I'm comfortable with that.

fivetide

Foxy-Stoat wrote: »

Careful...the OP doesn't like it posters don't read their posts properly !!!

Beat me to it!

Strider590

The thing not mentioned, is buy the new car, put it straight into storage, declare SORN and drive your old car until it's sold...... Can't imagine anyone wanting to do this though

Prothet_of_Doom

I have done the following:

1) taken out a second policy online, and cancelled it within the cooling off period.
2) Got the insurance company to insure both (most will do this for 2 weeks)
3) Taken the car off the road, and Sorned it. (Makes selling it a pain)
4) Kept the car as a spare on a classic policy (It was very old)
5) Given the car to a mate, as the trade in value was so low
6) PX'd it