Insurance Question

Cameron1590_2

Hello All,

Quick question: Car is currently insured in my partners name as she is main driver. I am named on this policy. I currently have a company car but start a new job in mid January to which I will have to start using our car.

I currently have two years NCB that runs out mid feb and or current insurance policy runs until March 2018. Am I able to take out my own policy in February and name partner on it on the same car?

This means the car would have two live policy’s on it for two months. This would allow my partner to get up to 4 years ncb and me to keep my current ncb.

I don’t think you are allowed to do this, if someone can clarify that would be much appreciated. In which case, I will cancel her policy and take out my own as it’s a bigger saving now then when I have lost my ncb.

Thanks

forgotmyname

You cannot use the same NCB on 2 live policies.

If you start a 2nd policy it will have zero no claims unless they clone it

Or do you have 2 sets of no claims? Insuring the same car twice would appear silly and potentially risk 2 lots of claims from a single incident.

Cameron1590_2

forgotmyname wrote: »

You cannot use the same NCB on 2 live policies.

If you start a 2nd policy it will have zero no claims unless they clone it

Or do you have 2 sets of no claims? Insuring the same car twice would appear silly and potentially risk 2 lots of claims from a single incident.

Hello,

We have two sets of NCB. My partner has three soon to be four. I have two soon to be none.

Thanks

loskie

no one policy only

AndyMc.....

loskie wrote: »

no one policy only

There’s nothing stopping there being more than one policy on a single vehicle other than terms the insurance companies may have.

Aretnap

Nothing to stop you doing what you are suggesting. There's an urban myth that it's illegal to have two policies running on the same car, but it's just that - an urban myth.

If you were to have a claim while the car was covered by two policies what would generally happen would be that each insurer would pay half the cost. That would make life a bit complicated if you had a claim while both policies were live and could lead to the loss of both NCDs - but OTOH if your NCD is about to expire and the alternative is losing it anyway then you will probably see that as a risk worth taking.

Alternatively your OH could cancel her own policy at the time you start up yours, but ten months into the policy she probably won't get much in the way of a refund (worth checking though) and she won't get any NCD for an incomplete policy year, so you may well think that it's worth forgoing a minimal refund on order to get an extra years NCD. Just try not to mess up the calculations by having an accident!

In years to come you can preserve both NCDs by insuring it in your name one year, your partner's name the next, assuming you don't make any claims of course.

rovers86

Hi,

Having been in the insurance industry (claims) for the last 12 years.As one of the "principles " of insurance you can't have "duel insurance " .Also as I assume you aren't married it breaks another rule, as there is no insurable interest, hope this helps.

maninthestreet

rovers86 wrote: »

Hi,

Having been in the insurance industry (claims) for the last 12 years.As one of the "principles " of insurance you can't have "duel insurance " .Also as I assume you aren't married it breaks another rule, as there is no insurable interest, hope this helps.

I think you mean "dual insurance".

Aylesbury_Duck

maninthestreet wrote: »

I think you mean "dual insurance".

Can you imagine the premiums on duel insurance? :eek:

rovers86

One of the many "benefits" of predictive text . Thanks for pointing that out I may sleep now.

Car_54

rovers86 wrote: »

Hi,

Having been in the insurance industry (claims) for the last 12 years.As one of the "principles " of insurance you can't have "duel insurance " .Also as I assume you aren't married it breaks another rule, as there is no insurable interest, hope this helps.

1. This question comes up frequently on this and other forums, and the answer from experts is always that it is perfectly legal to have two policies covering one vehicle, and there are circumstances where it can and does occur. Are they all wrong? Can you provide evidence?

2. Are you saying that an unmarried couple cannot own property jointly? That's a splendidly Victorian concept.