Double insuring a vehicle

[er-minio]

I'm trying keeping my 10+ years NCB for my car insurance while driving leased vehicles (insurance provided) from work.

As discussed here I cancelled my own policy in April 2022 when I sold my car. NCB should lapse after two years, so time to do something.
I was checking online and looks like it is legal to double insure a vehicle, given that you don't double claim on it of course.
Is this correct? Are the insurers ok with this?

I'm considering, as a possibility, insuring a friend's spare car if it works out cheap enough. They do have their own insurance on it, I will probably never use the car (and if I do, I can be covered by my own insurance contract instead of relying on theirs).

Is this legal/correct/doable?
I'm just trying to keep my NCB, not scamming insurance.

 

[OnHellas]

I’d ask an insurance company. I’d also be surprised if they say that it’s OK as each insurer would surely want the other to pay out in the event of a claim.

When I ended up with my NCB expired I asked when I next bought insurance and with the proof from before I got 2 or 3 years given back. I can’t remember exactly but it was LV that came through.

Good luck and tread carefully.

 

[er-minio]

I’d also be surprised if they say that it’s OK as each insurer would surely want the other to pay out in the event of a claim

Not really (don't think so), becase the named drivers on the two insurance contract are different.

My friend drives the car: his insurance covers.
I drive it: my insurance covers.

Reading online: it is legal apparently. Between legal and doable though...

I'm trying to speak with Admiral (my former car insurer).

 

[wessie]

The underwriter will not like that the V5 does not have your name on it, you are not the legal owner, you are not the main user and the vehicle is not at your home address. This will bump up the premium.

Double insuring is certainly possible. Just google the number of companies willing to insure a car for a single day, week etc. Not bikes though.

Most insurers will give you NCD credit for an unblemished period of driving a company car if you get a letter from the fleet manager. This can be a significant number of rungs on the NCD ladder. Personally, I would go down this route as I do not think insuring another vehicle would make economic sense for me, but I live in a low risk area and have a relatively low premium on my car.

 

[FoxCorp]

Read the small print very carefully - a lot of them say that they will not pay out on a claim if there is another policy that can be claimed on.

It's not just about driving it, think what happens if the car is stolen, or if the handbrake fails and it rolls down a hill & hits someone.

I wouldn't want to have an accident and then spend time trying to get insurance companies to agree on who (if anyone) is going to payout.

 

[L]

Also remember your NCD is only applicable to one policy, so if you have two policies, only one can use NCD discount otherwise the Insurer can say you weren't honest in your application...

 

[Berin]

Buy a £50 Chinese scooter and insure that. Doesn’t have to be on the road.

 

[oblertone]

... or a cyclemotor; keep it on a shelf

 

[er-minio]

Buy a £50 Chinese scooter and insure that

Car insurance.

I have my three bikes insured normally (17+ ncb).

 

[wessie]

Read the small print very carefully - a lot of them say that they will not pay out on a claim if there is another policy that can be claimed on.

It's not just about driving it, think what happens if the car is stolen, or if the handbrake fails and it rolls down a hill & hits someone.

I wouldn't want to have an accident and then spend time trying to get insurance companies to agree on who (if anyone) is going to payout.

this insurance thing on most policies, where you can ride a mate's bike, third party cover only of course. This is only valid of the owner of the bike has it insured. Underwriters seem to have that figured out, so why not the OP's proposal? Must be similar as the OP will only need to take out minimum cover to keep his NCD topped up.

 

[Neil W]

It is not legal to double insure a vehicle , confirmed a few years back when I cancelled a policy at renewal time and took cover with another company. the first company failed to cancel and auto renewed , so two policies were on the same car .

Both the old and new company stated that it was illegal to have two policies on the same vehicle (irrelevant of no claims discounts) and that in the event of an incident neither would have paid out despite both having been paid for . Better off buying a very cheap bike and put the ncd on it (even if the bike never gets pulled out of the garage/shed or from under a cover in the back yard ).

 

[bowser]

It is not legal to double insure a vehicle , confirmed a few years back when I cancelled a policy at renewal time and took cover with another company. the first company failed to cancel and auto renewed , so two policies were on the same car .

Both the old and new company stated that it was illegal to have two policies on the same vehicle (irrelevant of no claims discounts) and that in the event of an incident neither would have paid out despite both having been paid for . Better off buying a very cheap bike and put the ncd on it (even if the bike never gets pulled out of the garage/shed or from under a cover in the back yard ).

both companies talking bollocks then !!! it is not against any law, IT MAY well be against terms and conditions, and certainly it would be a crime to claim on both polices for full cost of claim, each would be liable for only a portion , at a guess not more than 50% of the total, as you describe BOTH are liable and they have to decide between them how much each it responsible for which is why the dont want you to do it, because its damn complicated, however insurance companies, tell all sorts of porkie pies about it being against the law, however you would have to inform them that there is another policy of insurance covering the vehicle and they would probably refuse to cover. But when it happens by accident as described above its not aginst any law, just tell to go do one.

 

[Berin]

Yep, not illegal. Earlier this year I had a bike insured under 2 policies as I transferred it into a multi bike. Both companies were aware.


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