2 insurance policies, 1 car ?

ron28688

is it possible to get two different policies on one car? my brother and myself, we dont want to go as named drivers due to both of us wanting ncb

Kristopherus

No.

ron28688

i guess we'll have to fight to see who gets the ncb then

djimi

A lot of insurers seem to be offering a full NCB for named driving experience these days.

Mr Benevolent

Nope, can't be done. My suggestion is that one of you be the main driver this year, the other does it next year. That's what I do with my GF to keep our NCBs increasing.

Yawns

Indeed. Bear in mind tho that some insurance companies can take your named driving experience into account and use it as a partial NCB when you want to go on your own.

So let's say your brother is policy holder and you are a named driver. After say 3 years you want to get your own policy on another car some insurance companies may give you 1, 2 or even 3 years as NCB. Not all do it and they have their own rules on implementing it. I think it's called NCB mirroring.

As for deciding who gets to be policyholder now, it's prob best to get lots of quotes and let the lowest premium decide. You'll need to have the policy holder as the registered owner as well. It's rare to find a policyholder who is not the registered owner and out of those cases it's usually when a partner is the owner.

ron28688

hmmm ncb mirroring.. i'll have to look into that. would be great if we could both get the ncb. looks like i'll be on the phone all day tomorow thanks very much for the help lads

September1

How exactly two different insurers would know ? Also technically those would be two separate insurances...

djimi

Yawns wrote: »

I think it's called NCB mirroring.

NCB mirroring is where you can use your NCB on two seperate policies for two seperate cars (as opposed to where you would have to start again with 0 NCB for the second policy normally).

Yawns

djimi wrote: »

NCB mirroring is where you can use your NCB on two seperate policies for two seperate cars (as opposed to where you would have to start again with 0 NCB for the second policy normally).

Cheers for that. I wasn't sure of the term for were they would take the named driving experience and convert it as a partial or full NCB in your own name. I thought it was mirroring but what you said makes much more sense, but I didn't think any insurance company would allow to take out a second policy with the first mirrored in that way so you could have a NCB on both policies. I always thought you had to start from scratch on the second policy and build up the NCB.

September1

OSI wrote: »

You do realise insurers share data right?

I thought only claim data is shared and that is mostly to prevent fraud. In that case there is no fraud or even slight dishonesty when two people buy insurances for same car. Is there any law that says that car cannot have two insurances?

djimi

September1 wrote: »

I thought only claim data is shared and that is mostly to prevent fraud. In that case there is no fraud or even slight dishonesty when two people buy insurances for same car. Is there any law that says that car cannot have two insurances?

Im pretty sure a law does exist that says you cannot hold two insurance policies on the same item, but Im not 100% about that.

MugMugs

September1 wrote: »

I thought only claim data is shared and that is mostly to prevent fraud. In that case there is no fraud or even slight dishonesty when two people buy insurances for same car. Is there any law that says that car cannot have two insurances?

Generally all claim information is shared between insurers through Money Mate's insurance system.

Not sure about the law however there's a catch. One of the insured(s) will have to make a false disclosure along the lines of "This vehicle is registered to me....."

It clearly can't be registered to both brothers.

OP - There is a way around this. That is that you have a joint policy. These can be difficult to get and despite it being joint only one person can earn the NCB each year but theoretically you could both join yourselves to a policy and alternate the person who earns the NCB each year.

So over a four year period you'd have two and you brother would have two.

You'd need to find a pretty good broker to sort that out for you though.

Milk & Honey

djimi wrote: »

Im pretty sure a law does exist that says you cannot hold two insurance policies on the same item, but Im not 100% about that.

There is no reason there cannot be two insurance policies on the same item. It often happens that two insurers cover the same house if there is a hitch with the paperwork when the owner changes insurer. Any claim will be shared between the two insurers, with the total being the same as if there was one policy. There cannot be double recovery.

oldyouth

Question on proposal form; "Is the vehicle owned by you and registered in your name?"

If you BOTH complete Yes to that on an insurance proposal form, it is misrepresentation and insurers will take whatever course of action they may choose in those circumstances.

Don't forget that 2 policies in existence that include cover for Fire, Theft or Own Damage to the same vehicle for full value could be seen as laying the foundations to defraud insurers and that is a criminal offence.