Buying a Second Car - Insurance

KaesarSosei

Hi,

Last week we changed our only car and had the Insurance updated for £25 handling fee (Insurance runs til November). We have now bought a second car and I am wondering what the best way to insure it is. I hear Admiral multicar is the best for two cars but would I need to cancel my current insurance at a cost, negating the Admiral savings? Or should I get two separate policies and have them both for the forseeable future? Or get a new policy for the new car and plan to cancel it in November?

I can use the comparison scraper websites but there's a serious number of combinations here so I am looking for advice before I start.

Thanks

InsideInsurance

You can start the Admiral Multicar policy with one vehicle and then move the others under the policy as and when their existing policies expire.

Remember that an NCD can only be used on 1 policy at a time. Is this is the first time you've had a second vehicle then you will have to declare 0 NCD for it as your NCD is currently in use on your other policy.

Speak to your existing insurers on the phone, very occasionally insurers will mirror NCD but its rarer than it used to be.

Most insurers will give an introductory discount for those with 0 NCD but no claims and significant driving experience. This is done automatically though so dont need to take any action to do this.

gilbert_and_sullivan

Leg work i'm afraid and lots of phone calls to make, put the details for each car in the usual comparison sites to find your basic figures for individual insurance.

You'll have to ring the several multicar providers to see what they can offer, around 10% discount off the combined costs would be about usual.

Remember there are several insurers, eg Direct Line who don't appear on comparison sites.
A good broker might be worth a call too, they'll know who to approach for introductory NCD for the second car.

Lastly Multicar worked for me for 2 years only, this year it rose sharply (how strange) i reduced the Multicar quote from £600 by going individual insurers and saved £200.

Others do things differently, but i don't go for the cheapest quote, i work my way up the quotes till i alight on an insurer that is likely to be fair...hopefully...indeed one insurer that features regularly here because they offer cheap quotes will bite you in the behind with exhorbitant admin charges shoudl you wish to alter anything during the term of cover.

Enjoy the next 4 hours of insurance hell...;)

Prothet_of_Doom

We have 3 cars, one of which is an 'almost classic' (a 1997 mk1 Mx5) and is used infrequently.
The First couple of years we had it on a classic agreed value policy, with limited mileage, but found that even with no NCB, it was just as cheap to get normal insurance declaring a low miles use, and not getting the agreed value bit, (I feel I can defend the value in the event of a claim, based on realistic adverts I've seen). This has the advantage of building a second NCB for my wife, which means that in future if she chose a modern none classic as a 'fun car' she should have a Full NCB to use.
When I've looked at the multicar policies, I didn't see they were good value. In fact the opposite. My biggest issue was that you end up with all three cars needing insurance renewed on the same date, so you might end up committed to a monthly premium.

InsideInsurance

Prothet_of_Doom wrote: »

My biggest issue was that you end up with all three cars needing insurance renewed on the same date, so you might end up committed to a monthly premium.

And this is the exact benefit that insurers see when combining what are traditionally multiple policies into a single one.

(A) You change the renewal dates as you bring more risks under the one policy so all their competitors start marketing to you at the wrong time and

(B) When you have your 3 cars, home, travel, 3 pet etc all insured under a single policy with a single renewal date it becomes a major pain to get quotes to split these into individual policies again and so pricing sensitivity goes down

sinbad182

Prothet_of_Doom wrote: »

We have 3 cars, one of which is an 'almost classic' (a 1997 mk1 Mx5) and is used infrequently.

Hate to break it to you mate but thats a 'Nowhere near classic'

Prothet_of_Doom

:rotfl:

sinbad182 wrote: »

Hate to break it to you mate but thats a 'Nowhere near classic'

It's classic in it's Rustyness.
It's classic in it's British Racing Green (ironic on a jap car)
It's classic in that it's got pretentions of sportiness
It's classic in that the insurance world is happy to provide classic insurance even though it's not hit their usual 20 year limit

It's nowhere near classic as it's reliable and doesn't leak, and handles quite well, and is quite ecomonical and there's a lot of freaky owners who tune them to achieve seriously mad power.

sinbad182

Oh I totally get what you're saying, they're really fun little cars with plenty of admirable traits. A friend of mine uses one as a track day car.

But they aren't, in any well used context of the word, anywhere near classics!