I Want To Merge 2 Car Insurances

CHRISWASPS

Who will offer a discount for insuring both my car and my partners? Renewal is on different dates at the moment. We live at the same address. It may pay us to pay a redemption payment on one policy to bring their renewal into line for a lower joint premium?

nadnad

i don't think you can merge two car insurances - I don't know how that would work, two different cars will require 2 policies. As for getting discount - I've never heard of anyone getting discount for insuring at the same place.

CHRISWASPS

Hmmm. This is what I suspected. It just seems daft that the insurance companies are looking for "bums on seats" and always ask whether there are any other cars within the household. I thought that I may be able to reduce the paperwork and get a dual quote rather than having to research the market twice per year. Thanks anyway!

Fraserca

I have 3 cars insured on the same policy with Norwich Union. Just phone them up and give the details.

Altarf

nadnad wrote:

i don't think you can merge two car insurances - I don't know how that would work, two different cars will require 2 policies. As for getting discount - I've never heard of anyone getting discount for insuring at the same place.

Online (and a lot of phone) insurance companies do not offer this as a facility, but a 'proper' insurance company will have no problems with it. With regard to the renewal dates being different they would just pro-rata the shorter premium.

Points to bear in mind though -

- It is probably not cheaper. Although they may offer a discount the online / phone companies are possibly cheaper, so do your maths first.

- Different insurers target different risk groups, so unless you and your partner are both 'wanted' by the same company, you will probably find that you could get better deals from two different companies.

- The complexities of the policy make it difficult to shop around each year.

- Only a few companies offer joint name policies, so if you have two cars, one insured in your name, one in your partners, one of you will gain a NCB and one will loose one, when the policy for two cars is written in one name. Again some companies are happy to transfer these back if you split the policy apart in the future, but not all are.

- You have two lots of insurance to pay on the same date. Not necessarily good for cash flow.

I doubt that once you have done the maths that you will find that you make any saving at all.

MarkyMarkD

I agree with Altarf - there are so many reasons why it won't work out worthwhile, that it's probably better to stick to separate policies.

nads

I don't think any insurance system or policy could deal with this.

Best option is to get the insurnace companies toblatantly give you a discount especially if you can quote a cheaper price.

CHRISWASPS

Thanks for that. I am already with NU for my BMW but up to now they not been helpful in allowing me to take out a part year on my partner's Peugeot. I will press the issue with them again

CHRISWASPS

You raise some excellent points here.which leads me to seriously question the financial cost of making matters simpler. Thank you for your "other side of the coin" observations.