Insuring Moltiple cars...

[Viper]

Anyone here have any experience in insuraning two cars, is it more expensive than normal or is it just the quote for the higher spec car that you pay?
I'm thinking of upgrading to a more inpractical car and was wondering the price implications of also insuring a cheap runabout under the same policy...

[kevinod]

I was looking into this at one stage, with the idea of having a mini-van or car for carrying band gear.

They were basically quoting me for a brand new policy, with zero no-claims. Some of them give you an introductory discount alright I think if you already have a car insured with them, but there doesn't seem to be a good option for insuring 2 cars under the one policy unfortunately.

[Myfeckin FTO]

Anyone here have any experience in insuraning two cars, is it more expensive than normal or is it just the quote for the higher spec car that you pay?
I'm thinking of upgrading to a more inpractical car and was wondering the price implications of also insuring a cheap runabout under the same policy...

Quite a bit more expensive as you don't get to carry over your no claims discount - a ridiculous situation considering you can only drive one car at a time.

e.g. I have the 350Z fully comp for €1300 using a full NCB. however if I have to insure the FTO even 3rd party then I will have to pay 1.5K extra as I will start from scratch without an NCB on the FTO.
The only option is to go with a high excess insurance quote for the weekend car to keep costs down and take the risk.

[Viper]

That sounds ridiculous! Are they suggesting it's possible to physically drive two cars at the same time? I would have thought at worse you pay the higher policy, but realistically it should be less based on milage. There goes my TVR dream so!

[kevinod]

One point - 2 cars, twice as many cars to
- go on fire
- be stolen
- someone else to crash into (driving or parked!)

but yup, there should be a better way you'd think!

[Mustang]

Like the guys said the options are as follows:
1. Take out a second 'regular' policy. You can only use your total NCB on one policy at a time. Alternatively some insurers will allow you to share/spread your NCB over two policies. e.g. if you have 4 years NCB, they will allow you two assign 2 years NCB each to two policies (really just moving the goal posts)
2. High excess policy -no NCB required. That xs direct offering seems to be becoming more exclusionary with what it will cover, and increasingly moving away from the one price for all structure
3. Trade policy -as many cars as you like...start buying the fleet now!
If you were going to run an FTO and a TVR I'd think option 3 would be most suitable -your best bet is to speek to a broker and explain your requirements. They should be able to advise the bset fit.

[Muad_dib77]

Would you not need to be a restered business (vat number and all that jazz) to have a trade policy?

If not I'm getting a pile of scappers from japan - washing them and flogging them to boy racers!

[Viper]

More than likely the end result would be TVR + 1988 Ford Fiesta !
Option 2 would probably suit most as I don't want to go through the hassle of registering myself as a company etc...
Or of course if someone can suggest a decent car with room for fishing rods and golf clubs I'm all ears!

[Dave]

Our company is probably one of the biggest brokers in the country for trade policies! you can get a trade policy, if you are in the trade!! or even part time!! and no you don't have to be VAT registered!!!


only problem with the trade policy is, if you crashed and wrote off your car,the insurers will only give you trade prices for it!! i.e,much lower than the going rate!!

[Muad_dib77]

Dave - is it expensive..

as in - what would the quote be for a FTO GPX driven by a 30y old male 5yrs NCB living in Dublin on trade...and what would it be non trade...

Just an example..