[Talyinka]

I was wondering if a type of car insurance exists, under which you can drive any of the cars you own without having to insure the vehicles individually? I guess traders must have something like that but it would probably be too expensive for individuals (?).

Pointers appreciated - somebody here must know a lot about insurances .

In the Scandinavian countries they have a much more flexible system: insurance is attached to the person driving, not to the vehicle. Hence, if you have valid insurance and a driving license for the type of vehicle in question, you can jump into and drive any vehicle without first having to establish a link between the vehicle and your insurance. Compared to this the UK system is so cumbersome. I guess the insurance companies in those countries also make money, so why do we need to exercise bureaucratic masochism in this particular area?? :frown

 

[hotrodboogie]

I used to have a traders policy but even that isnt clean cut, it will only cover you up to a certain value and a certain engine size, if you want one that covers anything you have to be over a certain age and they get more expensive, some you have to have premises and some you dont, they are a bit of a mix n match to be honest, i think mine was about £450 before i gave it up, hope this helps ya anyway mate. :thumbsup

 

[Talyinka]

Thanks, Hotrodboogie,

Guess it's time to call my friend the insurance adviser...

 

[Fitz]

I use Footman James and have the BMW and the 2 classics all on one policy which works out pretty cheap compared to individual policies. My frieds have their two cars on the one policy with them too and they can drive both cars at the same time. They also added their boat to the policy.

 

[badj]

as hotrodboogie says, you would need a traders policy.

 

[Talyinka]

Thanks for your advice guys. Dealing with Footman James was a pleasure. The person I dealt with was professional and knowledgeable, and I now have some of my vehicles insured on a multi-vehicle insurance policy.

One of the interesting things for somebody who - like me - changes cars a few times every year is that they only charge £20 to change a car on the policy.

 

[DSK]

Thank you for the Footman James mention. I'm having trouble and have come to my senses I shou;dn't be pyaing over the odds to insure 3-4 cars individually. I will look them up and give them a call to see if they can help me.

 

[Unknownsoldier]

You can use a bond, like the buses do..... my mate did it for his classics (he's got lagondas, Bentleys allsorts... all inherited from his dad and grandad who bought most NEW!!!!). Cost him 15k, to set it up and IIRC it's for life, unless oyu have an accident, I'm considering one, as..... I'm 23, I pay around 1-1.5k a year insurance... say for argument 1.5k 15/1.5 Now that 10 years driving, so that make me 33..... so I'll be driving until I'm 75.... now it'll save me if you consider I'll be paying less and less over the years, so if I now say 500 quid to give a rough estimate.... 42 X 500 = 21k or there abouts, so I'll save around 21k unless I have an accident. It's just having 15K to begin with.

However you then do not have a policy, you only have an agreement note, so you will occasionally be stopped by police and asked for it, but my mate has photocopied it and put it in all his cars glove boxes...... then they just make a short call and it's done

Tom

 

[Joe9087]

But what happens if you have an accident? Will that amount go up a lot? Does the policy/agreement become void?

 

[Unknownsoldier]

no, you then pay another 15k..... it fills a large fund and accidents are paid out from it, or so I believe the amount never changes afaik.

Tom

 

[shaunl]

Hi,

There are a number of policies out there that cater for people with more cars than drivers. The term classic is a bit of a red herring as well, there are some insurers who would class a brand new M3 as classic provided it was not the "main" car in the family and travelled less than 5000 miles per year. Hope this helps.

 

[Fitz]

And what if the company goes bust in the ressession? Are you still insured?

 

[Unknownsoldier]

And what if the company goes bust in the ressession? Are you still insured?

Company? What, any insurance company?

If say NU or Tesco's goes bust, no you're not covered.

Tom

 

[shaunl]

There is protection if your insurance company goes bust, you would have to re-arrange your cover but the policyholders protection board give you 90% of the unused premium back, so you are only only 10% down providing you can get the replacment cover at a similar premium.

 

[Unknownsoldier]

There is protection if your insurance company goes bust, you would have to re-arrange your cover but the policyholders protection board give you 90% of the unused premium back, so you are only only 10% down providing you can get the replacment cover at a similar premium.

Wow, never knew that, I just thought it would be the usual round of F**k the consumer, like everything else with our government......

Tom