Insurance question-one car 2 policies

bigboss1986

Hi.I just sold my car and not getting new one ..We have 2nd car in family register under wifes name and she has fully comp ins with ME as named driver and I have full comp with HER as named driver..
The only thing is I dont want to cancel my policy as it expires in 3 months so I will get another year of NCB.
Does anyone know is it possible to have 2 covers for one car? Also if car is registered under my wifes name does makes any difference?

I know I can call 123.ie and ask but would like to be prepared
Any info appreciated

dingus12

No you can't have 2 policy's on the one car, best suggestion I have is to ask someone who has a car laying around at the side of the house not being used, can you transfer your policy on to it for a couple of months.

Also you can suspend your policy for a couple of months, so If you buy another car in 2 months time, you will still have 3 months left on your existing policy.

CiniO

dingus12 wrote: »

No you can't have 2 policy's on the one car, best suggestion I have is to ask someone who has a car laying around at the side of the house not being used, can you transfer your policy on to it for a couple of months.

Why not? Who will prohibit you from doing so?

Also you can suspend your policy for a couple of months, so If you buy another car in 2 months time, you will still have 3 months left on your existing policy.

Suspension of policy don't work like that. If you have 3 months of the policy left, and suspend it for 2 months, you will have 1 months of policy left, and you will get a refund for those 2 months.

bigboss1986

CiniO wrote: »

Why not? Who will prohibit you from doing so?


Suspension of policy don't work like that. If you have 3 months of the policy left, and suspend it for 2 months, you will have 1 months of policy left, and you will get a refund for those 2 months.

Thats interesting .What about NCB?I will call them anyway and ask all possible options

CiniO

bigboss1986 wrote: »

Thats interesting .What about NCB?I will call them anyway and ask all possible options

You will still get your NCB for full year, even if policy was suspended during that period.

K.Flyer

A Guide to Motor Insurance & FAQ's

I've got two Insurance policies in place for the same car, what happens now I need to make a claim?

Simple, one insurer will take the lead and the other will sit back however both insurers will have to pay 50% of the claims costs on the associated risk. So if Insurer A has Comp and Insurer B has TPFT then B will pay 50% of the third party costs.

bigboss1986

K.Flyer wrote: »

A Guide to Motor Insurance & FAQ's

I've got two Insurance policies in place for the same car, what happens now I need to make a claim?

Simple, one insurer will take the lead and the other will sit back however both insurers will have to pay 50% of the claims costs on the associated risk. So if Insurer A has Comp and Insurer B has TPFT then B will pay 50% of the third party costs.

So looks like it,it is possible to have 2 policies on one car.Both are fully comp so if anything happens it all depends who I will be claiming from(a or for my own damage and 3rd party will be A 50%+B 50%

challengemaster

You lose both yours and your wifes NCBs if anything happens

deco nate

challengemaster wrote: »

You lose both yours and your wifes NCBs if anything happens

Unless they have NCBs protection?

bigboss1986

challengemaster wrote: »

You lose both yours and your wifes NCBs if anything happens

We both have bonus protection so thats not an issue.
What about registered ownership?It is my wifes name on the log book but I believe as a married couple we both ''technically'' own the car?

challengemaster

bigboss1986 wrote: »

We both have bonus protection so thats not an issue.
What about registered ownership?It is my wifes name on the log book but I believe as a married couple we both ''technically'' own the car?

Well then both policies will take a hit on bonus protection from one incident.

Married people have shared insurable interest in assets, hence there's no issue with whose name its in.

bigboss1986

challengemaster wrote: »

Married people have shared insurable interest in assets, hence there's no issue with whose name its in.

Thats what I need to know.I dont want to change log book in the future to my name.
I will call them tomorrow and put here any updates.
Thanks for all the info guys!!!

jimmycrackcorm

K.Flyer wrote: »

A Guide to Motor Insurance & FAQ's

I've got two Insurance policies in place for the same car, what happens now I need to make a claim?

Simple, one insurer will take the lead and the other will sit back however both insurers will have to pay 50% of the claims costs on the associated risk. So if Insurer A has Comp and Insurer B has TPFT then B will pay 50% of the third party costs.

Not exactly.

A claim is made against a policy. Unless both policies are with the same insurer then any claim will not affect the other policy. i.e if you dont have the disc in the window and dont specifically give the details in the event of a claim then to all intents and purposes the other policy is effectively unused.

However a common scenario like this is where spouses have their own policies but are named drivers on each others.

9935452

jimmycrackcorm wrote: »

K.Flyer wrote: »

A Guide to Motor Insurance & FAQ's



Not exactly.

A claim is made against a policy. Unless both policies are with the same insurer then any claim will not affect the other policy. i.e if you dont have the disc in the window and dont specifically give the details in the event of a claim then to all intents and purposes the other policy is effectively unused.

However a common scenario like this is where spouses have their own policies but are named drivers on each others.

If there was an accident or claim both policys would go up regardless of having no claims protection. If you have an accident you will be of a higher risk to the insurance company so the figure they come to before the NCD is applied will be higher. Plus you might be stuck with the same insurance company

bigboss1986

Quick update:

I spoke to my ins.-123.ie and they said they cannot transfer over my policy to wifes car because car is already insured under her name.I was also advised the cannot suspend my policy but if I dont want to cancel I can keep going and will still get my NCB,or cancel at any time for 40€,or transfer over to my wifes car after her policy expires or cancel her policy and put my one on.
I have 6 or 7 years of NCB and my last NCB cert was issued in NOV 2014.Does any one know how long I can be without insurance under my name to still claim my full bonus from insurance company?
Is it 12 or 24 months?

9935452

bigboss1986 wrote: »

Quick update:

I spoke to my ins.-123.ie and they said they cannot transfer over my policy to wifes car because car is already insured under her name.I was also advised the cannot suspend my policy but if I dont want to cancel I can keep going and will still get my NCB,or cancel at any time for 40€,or transfer over to my wifes car after her policy expires or cancel her policy and put my one on.
I have 6 or 7 years of NCB and my last NCB cert was issued in NOV 2014.Does any one know how long I can be without insurance under my name to still claim my full bonus from insurance company?
Is it 12 or 24 months?

AFAIK 2 years but again you will have to confirm with insurance company.
As one of the other posters say find a car belonging to a friend and transfer to that but with 123 it will cost you to transfer to it and transfer to another car.

bigboss1986

9935452 wrote: »

AFAIK 2 years but again you will have to confirm with insurance company.
As one of the other posters say find a car belonging to a friend and transfer to that but with 123 it will cost you to transfer to it and transfer to another car.

They said I can leave it as it is.Wont cost me anything and im still cover to drive other cars(3rd party only).

challengemaster

How can you leave it as is? You no longer own the car you insured.

9935452

bigboss1986 wrote: »

They said I can leave it as it is.Wont cost me anything and im still cover to drive other cars(3rd party only).

I was gonna suggest that but
Do you have open drive on the policy?

If it is the chap who bought the car off you could drive the car on your insurance , have an accident and claim off your policy.

If no open drive, the car is still fully comp so he could write the car off in an accident and claim for it on your policy

bigboss1986

9935452 wrote: »

I was gonna suggest that but
Do you have open drive on the policy?

If it is the chap who bought the car off you could drive the car on your insurance , have an accident and claim off your policy.

If no open drive, the car is still fully comp so he could write the car off in an accident and claim for it on your policy

This is what I was told by 2 agents and Im confused now.They told me to take disc from the car and If I buy car in coming days or months I can transfer over.
BTW how come someone can claim anything from my insurance without any details of cover?

9935452

bigboss1986 wrote: »

This is what I was told by 2 agents and Im confused now.They told me to take disc from the car and If I buy car in coming days or months I can transfer over.
BTW how come someone can claim anything from my insurance without any details of cover?

Did the man who bought the car see the car with a valid insurance disc on it when he test drove it?
Id be 99 percent certain nothing would happen if you left the insurance on the car but strange things happen,
Can the guards run the plates and see details of insurance and tax?

bigboss1986

9935452 wrote: »

Did the man who bought the car see the car with a valid insurance disc on it when he test drove it?
Id be 99 percent certain nothing would happen if you left the insurance on the car but strange things happen,
Can the guards run the plates and see details of insurance and tax?

No he didnt see anything and he yesterday bought policy with Allianz .
I might cancel my cover tomorrow I will loose few month of NCB and deposit thats all.
Im still named on my wifes policy so shouldnt be that bad if I buy new car in the next few months.
Dont think they can check insurance without cert.You can buy new cover every day

Edit:Im still tempted to change reg to my wifes car and be quiet Her disc will be on the window anywayt

Edit 2: as a named driver does it count as continuation of NCB?