Newbie Insurance Question

KingLoser

Hey all,

A question on insurance. I just bought a car for myself, and it's registered as belonging to me. Now, being the little high-risk that I am, I'm not too keen on the idea of hijacking an oil barge to pay for my insurance policy.

A friend of mine tells me that his mam is the main driver insured on his car, and that he's simply a named driver on her policy. (The "catch" being, if he crashes, her no claims goes kablamo) After much annoyance, my mam finally rang up her insurance company to which they told her "you can only be insured on one car"...

Now, I don't doubt for a second that my mam may have asked this wrong, she's as culch as they come, and hasn't a clue about insurance, but I was wondering, is this possible as she's already the main insured on her own car?

And also, how do all these multi-millionaires drive around several cars, of which I'm sure they're insured on..? Is ownership the issue? Will she have to take out a seperate policy for my car? (I'm OK with this, it's still cheaper than a shiny policy of my very own...)

Yeah, lots of question marks, but there really is only one question.

Any help would be sound, cheers!

Alanstrainor

Moved from learning to drive.
It all depends on the type of policy your mother currently has, a lot of standard policies only allow one car. Your friends mother might not be the primary insured on "her" car, hence being able to do the above.

daveharnett

Bear in mind, that if you are insured as a named driver, when you are in fact the primary driver, the insurer may decide not to pay out in the event of a crash.

OldmanMondeo

Your mother may open a new policy against another car, but she will not be able to use the NCB, therefore it would be cheaper to open your own policy. The Insurance companies are wise to this.

January

daveharnett wrote: »

Bear in mind, that if you are insured as a named driver, when you are in fact the primary driver, the insurer may decide not to pay out in the event of a crash.

Quoting this for good measure. Get your own policy.

January

daveharnett wrote: »

Bear in mind, that if you are insured as a named driver, when you are in fact the primary driver, the insurer may decide not to pay out in the event of a crash.

Quoting this for good measure. Get your own policy.

Your mother has no insurable interest in your car, therefore if you were to have an accident or if your car was stolen/set on fire then there would be no payout as the car is not in your mothers name yet she insured it.

KingLoser

Thanks for all the advice guys and gals, I went ahead on got my own policy.

Britton insurance in Donegal offered me a good deal incase anyone in the same boat was getting extortionate quotes.