Car insurance question regarding 2 cars.

evosy1978

Hi all,

I have a 1 policy and I looked at a quote for a new car I've bought. A multi car policy and  I expected it to be a lot cheaper than 2 separate policies but it's virtually the same.  

Why is this.?

I can only drive 1 car at a time?? I wanted 1 for the weekdays and 1 for the weekend.  Is there not insurance for only me to be the driver of both cars?

Thanks

Flugelhorn

one thing is that you can only use your no claims bonus against one car so the second is likely to be more.  I bought cars for the offspring to learn to drive - they were insured in my name with the kids having additional learner insurance - I couldn't use my no claims twice but nevertheless the premiums were not huge - I assumed because I couldn't be driving more than one car at a time

evosy1978

Flugelhorn said:

one thing is that you can only use your no claims bonus against one car so the second is likely to be more.  I bought cars for the offspring to learn to drive - they were insured in my name with the kids having additional learner insurance - I couldn't use my no claims twice but nevertheless the premiums were not huge - I assumed because I couldn't be driving more than one car at a time

This is what I'm saying.  I paid about £300 for my original car. 9 years no claim. (both cheap 2nd hand cars)  but the new quote for the 2nd car is also about £300...

Mildly_Miffed

While you're off driving car A, car B is parked, right?
Maybe somebody drives into it and does a runner.
Maybe it catches fire.
Maybe it's stolen then the thief crashes it and does a runner.
Maybe the handbrake fails and it rolls off, running over a kitten holding a basket of nuns.

All are situations where your insurer is on the hook, even though you aren't actually driving the car at the time.

Bigphil1474

Maybe ask the insurers. If you have both cars in the garage, and nobody else is covered to drive them, then maybe it should be cheaper. If both are parked on the street or they are typical car thieve targets, maybe not so much. At least worth checking they are offering the cover you think you want.

DullGreyGuy

evosy1978 said:

I have a 1 policy and I looked at a quote for a new car I've bought. A multi car policy and  I expected it to be a lot cheaper than 2 separate policies but it's virtually the same.  

Why is this.?

I can only drive 1 car at a time?? I wanted 1 for the weekdays and 1 for the weekend.  Is there not insurance for only me to be the driver of both cars?

Are the cars similar or very different? Normally those with two cars but only 1 driver tend to be fairly different and that creates the challenge of finding one insurer that likes both the vehicles you have plus you. You typically end up compromising and so the multi-car discount simply offsets the fact another insurer would be happier with the additional car than they are. 

Whilst you are actively driving represents the majority of the risk but far from all of it. Cars getting stolen/vandalised etc are generally done whilst they are not being driven, you'll have cars that are more stationary than if you only had 1 car. Similarly there is no diversification of risk... if your a poor driver despite having a clean record its only you thats going to be doing the full X,000 miles a year whereas if its you + named drivers there is more chance of the overall of an average driver (not all eggs in one basket). 

Ultimately simply work out which is best for you, a "multi-car policy", two policies with the same insurer that offers a multi-product discount, and two policies with totally separate policies.

Stubod

I had a multi car policy with Admiral for the last few years, but this year I found it was cheaper to insure each car seperately with two different companies....