second-car insurance

richard101

Hi All, my first post. I just bought my dream-car (MX-5, nearly new, £16.5k) now I need to sort-out insurance (I've 7-days free from Mazda).

I've owned another car, a Galaxy, for a decade, so the Mazda is a second-car. So my first question is - why can't my Galaxy NCD help my MX-5 premium?

I did fall for 'gap-insurance' (£345) from the dealer (which I've since read was a mistake). Question - can I make-the-most of this now by minimising my cars value when filling out the insurance forms?

Last question - there are now 4 cars in our household. Is (admiral) 'multicar' insurance a good idea?

thanks

richard101

Oscar_The_Grouch

Hi there

Good luck with the new car. Not going to comment about Admiral, becaue I do not know the policy. With regard to the undervaluing, I have 2 comments to make:

1. Insurance is based on "Utmost Good Faith", which means that if you undervalue your car your insurers may decide you deliberately tried to lie to them and declare your policy void (give you your premium back and refuse to pay any claims). Why would you think it was acceptable to lie to your insurers?

2. Most insurers will set the value of your car as "under £20,000" so whether you lie to them or not, you are unlikely to see any savings.

Turning to your other question about the NCD for your Galaxy; it's one car one bonus. You may find that your current insurer would give you a "second car discount", but make sure you ask them what will happen to that discount at renewal.

Thanks for your post and give up on the idea of telling lies to insurers; it's not big and it's not clever. I know I'm harping on about it, but you wouldn't believe the number of posts there are on this site from people complaining about their insurers taking a hard line when they discovered the lie.

richard101

Hi Oscar

Thanks for your reply. BTW I have no intention of lying. Ideally wanted a reply from someone who understands gap-insurance and/or multicar-insurance more than me.