Insurance Question

spiderdan

Hi, I have a loan of a car from a mate for a month, is it possible to get insurance from companies for just the 4 weeks?

cheers

Cill Dara Abu

I'm sure it is possible, ring up and ask thats the only way you will find out.

MugMugs

spiderdan wrote: »

Hi, I have a loan of a car from a mate for a month, is it possible to get insurance from companies for just the 4 weeks?

cheers

Generally not, no. Your friend could name you on their policy though or you could take out a 12 Month policy now and cancel when you're finished with it.

Otis Driftwood

spiderdan wrote: »

Hi, I have a loan of a car from a mate for a month, is it possible to get insurance from companies for just the 4 weeks?

cheers

You cant cover it at all as it doesnt belong to you so you have no insurable interest.

Insurance companies dont offer short term cover either.

The only feasible option is if your mate has it insured then get them to add you as a driver for the few weeks and pay him for it.

If you have an insurance policy yourself at the moment then you could probably do a temporary transfer of insurance but by the sounds of it you dont so being added as a driver under your friends policy is the only real option you have.

MugMugs

Otis Driftwood wrote: »

spiderdan wrote: »

Hi, I have a loan of a car from a mate for a month, is it possible to get insurance from companies for just the 4 weeks?

cheers

You cant cover it at all as it doesnt belong to you so you have no insurable interest.

Insurance companies dont offer short term cover either.

The only feasible option is if your mate has it insured then get them to add you as a driver for the few weeks and pay him for it.

If you have an insurance policy yourself at the moment then you could probably do a temporary transfer of insurance but by the sounds of it you dont so being added as a driver under your friends policy is the only real option you have.

Mind me asking how I can cover a garage vehicle under my policy on a temp basis when I have no insurable interest in it?

CiniO

Otis Driftwood wrote: »

You cant cover it at all as it doesnt belong to you so you have no insurable interest.

For third party you don't really need any insurable interest.

MugMugs

CiniO wrote: »

Otis Driftwood wrote: »

You cant cover it at all as it doesnt belong to you so you have no insurable interest.

For third party you don't really need any insurable interest.

Correct however you can also insure a vehicle comprehensively and note another parties interest in it. Think about it, how would you insure a vehicle owned by a finance company if you couldn't.

Otis Driftwood

MugMugs wrote: »

Mind me asking how I can cover a garage vehicle under my policy on a temp basis when I have no insurable interest in it?

Temp transfers exist for things like being in for repairs/servicing/test drives etc.

You arent taking out a stand alone policy so the insurable interest aspect isnt an issue.

Its a wee bit of a grey area though and similar to the fact that you arent allowed to do a temp sub onto a vehicle you own.

MugMugs

Otis Driftwood wrote: »

Temp transfers exist for things like being in for repairs/servicing/test drives etc.

You arent taking out a stand alone policy so the insurable interest aspect isnt an issue.

Its a wee bit of a grey area though and similar to the fact that you arent allowed to do a temp sub onto a vehicle you own.

Granted but you can still note the interest of the owner under the same and they can be compensated for their loss should you have a wee tip.

There's nothing stopping a Third Party only policy being incepted on a vehicle you don't own.

Otis Driftwood

Ring any insurance company or broker and tell them you want to take a TPO or any other type of policy out on a car that you dont own and you will be declined.

CiniO

Otis Driftwood wrote: »

Ring any insurance company or broker and tell them you want to take a TPO or any other type of policy out on a car that you dont own and you will be declined.

I know you are probably right, and that's how it works.

But what is a person who owns a car and doesn't hold a licence supposed to do?
Person without a licence will be refused any insurance policy.
No one else is able to get a policy on that persons car, as only the owner can.
It looks like unsolvable situation.

Before you ask - these situation might not be that unusual.
F.e a family where no one drives and no one has licence, employs au-pair and buys a car for her to drive shopping, etc.
Or an older person who owns a car, but no licence. Car is used by his carer to drive him around.
Might be as well a person who lost a licence f.e. because of points of drink driving, and want's f.e. his brother to drive it for him.

All above cases seems to be cases impossible to insure.

oldyouth

MugMugs wrote: »

There's nothing stopping a Third Party only policy being incepted on a vehicle you don't own.

Of course there is. Why do you think every single proposal form asks if the vehicle is owned & registered in your name? Say no & you will get refused

Andrew33

Otis Driftwood wrote: »

Temp transfers exist for things like being in for repairs/servicing/test drives etc.

You arent taking out a stand alone policy so the insurable interest aspect isnt an issue.

Its a wee bit of a grey area though and similar to the fact that you arent allowed to do a temp sub onto a vehicle you own.

You're talking BS, I have 4 cars registered in my name and regularly have to do temp subs between them. Not a problem.

Otis Driftwood

Andrew33 wrote: »

You're talking BS, I have 4 cars registered in my name and regularly have to do temp subs between them. Not a problem.

Tell you what.Next time you are doing a temporary transfer tell the company that you own all the vehicles and see how far you get.Every single insurance company Ive dealt with in my professional career (Quinn are about the only one I havnt dealt with) do not allow it if you tell them you own the car so it is far from BS.

oldyouth

Otis Driftwood wrote: »

Tell you what.Next time you are doing a temporary transfer tell the company that you own all the vehicles and see how far you get.Every single insurance company Ive dealt with in my professional career (Quinn are about the only one I havnt dealt with) do not allow it if you tell them you own the car so it is far from BS.

Totally agree Otis

Andrew33

Otis Driftwood wrote: »

Tell you what.Next time you are doing a temporary transfer tell the company that you own all the vehicles and see how far you get.Every single insurance company Ive dealt with in my professional career (Quinn are about the only one I havnt dealt with) do not allow it if you tell them you own the car so it is far from BS.

oldyouth wrote: »

Totally agree Otis

Of course the insurer knows I own all the cars!! I'd never do anything even remotely dodgy as far as insurance cover is concerned (It's my livelyhood) The only questions they ask me are, purpose of transfer and for how long? Usually only need to transfer for anything from a couple of hours to a couple of days but never a problem. Anything longer than a week and they prefer I do a "permanent" transfer and then transfer back when I'm finished.

oldyouth

Andrew33 wrote: »

Of course the insurer knows I own all the cars!! I'd never do anything even remotely dodgy as far as insurance cover is concerned (It's my livelyhood) The only questions they ask me are, purpose of transfer and for how long? Usually only need to transfer for anything from a couple of hours to a couple of days but never a problem. Anything longer than a week and they prefer I do a "permanent" transfer and then transfer back when I'm finished.

I have to say that I'm very surprised at that. The vehicles that you own would (probably) all have different basis of rating as far as an insurer is concerned, so which one do you declare as the 'base' vehicle?

Temporary alterations under a motor policy are a facility given to policyholders to accommodate the odd situation where your own vehicle is off the road for a short period. It is not intended for anyone to use as a pick 'n mix option. As an example, insurers are constantly vigilant in monitoring the number of temporary alterations a client does in order to try and identify if a private car policy is being used by an individual for motor trade purposes. If they have suspicions, they will cancel the policy.

I don't doubt that you have mentioned to your insurers that you own all the vehicles, but do you have their agreement in writing? I'd seek that urgently if I was you.

Andrew33

oldyouth wrote: »

I have to say that I'm very surprised at that. The vehicles that you own would (probably) all have different basis of rating as far as an insurer is concerned, so which one do you declare as the 'base' vehicle?

You might be onto something there, all the vehicles are the one type with an age difference spread over 2yrs so would have the same rating/value. Might be why it's not a problem.

Also, I don't do it on a "pick n' Mix, oh which car will I take today?" level. It's done only as often as necessary.
I'd love a fleet policy but not worth it with only 4 cars to cover.

MugMugs

Different principle as Andrew has an insured interest in the vehicles.

oldyouth

Andrew33 wrote: »

You might be onto something there, all the vehicles are the one type with an age difference spread over 2yrs so would have the same rating/value. Might be why it's not a problem.

Also, I don't do it on a "pick n' Mix, oh which car will I take today?" level. It's done only as often as necessary.
I'd love a fleet policy but not worth it with only 4 cars to cover.

Andrew, all I'm saying is that what you (sometimes) do is not a regular thing for insurers to agree, so get confirmation in writing from your insurers that they are aware of it.

With rapidly declining profits, all insurers are now paying more attention to reasons which give them the right to repudiate claims for misrepresentation. I'm not being specific to you, but these are the facts for ALL classes of insurance including house, motor and business.

oldyouth

MugMugs wrote: »

Different principle as Andrew has an insured interest in the vehicles.

I am aware of that. He raised a point and I made a comment