Multi Car Insurance Has a little known risk

KnowledgeGatherer

Just found out after my wife had two no-fault accidents in her car, that because I am the policy holder on our multi car policy, even though I was not involved in the accidents and they did not affect out no-claims bonus, it has increase my premiums by 25 percent. If we had separate policies with one in her name,  I would not have had to declare the claim and my own car would be much cheaper to insure. I now have to wait 5 years before I can have a separate policy where I do  not have to declare the accidents. The multi car savings are irrelevant compared to the additional loadings when accidents occur. I mistakenly believed that it was the driver of the car that would affect insurance premiums. If I had known this, I would never have taken out a multi car policy. Welcome to the helpful insurance world.

MyRealNameToo

Is she a named driver on your car?

sheramber

You can have a multi car policy with  a different policy holder , who is the main driver., on each car. 

If  the other person wants to drive the car they need to be a. named  driver.

Each policy holder has their own NCB. 

MyRealNameToo

sheramber said:

You can have a multi car policy with  a different policy holder , who is the main driver., on each car. 

Depends who the provider is... most are not multi-vehicle policies but multiple policies simply receiving a volume discount and at best some sort of wrapper to pull their renewal quotes etc into one document.  This is the type youre talking about. 

A minority do actually offer a true mutli-vehicle policy where all vehicles are insured on a single policy so one policyholder and potentially a single NCD (though a former client was a true personal fleet policy but separate NCDs)