Admiral won't insure a car bought with PCP ?

The_Governor

I'm getting a car on PCP in the next couple of months, I spoke to my current insurer, Admiral, who said they won't insure cars bought on that basis.

Some gibberish about that arrangement being used for people who hire cars for other people to drive or something (which doesn't sound anything like what PCP is.
The lady I spoke to said the underwriters won't have it, but wouldn't let me speak to the underwriters to get clarification.

So, a couple of questions if I can

Are there any good PCP friendly insurers anyone would recommend?

Also, anyone currently with Admiral on a PCP who has successfully got their car insured after informing them (I am suspecting the lady I spoke to doesn't really know what she's talking about as it seems odd for Admiral to turn it's back on such a large market).

jimjames

I find that very hard to believe.

So many cars are sold on PCP deals that they would limit their market substantially. Is it really PCP or lease or something else?

The_Governor

Nope, straightforward PCP, balloon payment at the end (GFV) with BMW, the kind of arrangement in place on hundreds of thousands of cars I would guess...

captainawsome

She must have been mistaken, possibly mixing a PCP up with a lease?

The_Governor

I think she was mistaken, but she was also adamant, the trouble is once they've said something they always find it impossible to admit they've made a mistake...

harveybobbles

None of their business if its a PCP is it?

pitkin2020

call them back and speak with someone else, you'll get different advice no doubt.

neilmcl

Unless they've suddenly changed their policies in the last year I think you've either misunderstood what you were told or they were talking rubbish. All they need to know is who is the owner and registered keeper of the vehicle, whether it was purchased via PCP, HP or any other finance arrangement is irrelevant.

Gloomendoom

harveybobbles wrote: »

None of their business if its a PCP is it?

The OP trying to insure a car owned by someone else so, yes, it probably is the insurer's business.

The_Governor

Yep exactly, I don't want any insurer to wriggle out of paying out on a technicality...

Johnmcl7

pitkin2020 wrote: »

call them back and speak with someone else, you'll get different advice no doubt.

Agreed, Admiral refused to insure a second hand car I'd bought because they claimed it didn't exist which they insisted was because it was a new car and not yet on the system. I kept explaining it was a three year old car that hadn't had a private plate but got nowhere, spoken to the ddealer who confirmed it was all fine and phoned back admiral who sorted it out in a couple of minutes, the person had no idea what the previous person was on about.

John