Married, share one car, best insurance?

stunmer · 07-09-2019 7:58am #1

My wife and I have decided to sell both our cars and buy one family car.

We both rang our insurance companies to be updated for the new car - fully comp. Now we have 2 insurance discs.

Is there a better way to go around this?

Should we both get insured separately?

We both like to have the ability to be insured to drive other cars (third party I think). Do we need our own insurance for this or can we do that as a named driver?

I'd be interested to know what other people do in this situation.

whomitconcerns · 07-09-2019 8:03am

So you have 2 policies on the same car now? Well that needs to be stopped, your just throwing money away there.

What's the actual end situation you want to have?

07-09-2019 8:08am

One as main driver one as named driver. Only issue is named driver will have no no claims bonus should they buy a second car.

Also named driver not insured to drive other cars. But it generally costs nothing for the named driver.

Nigzcurran · 07-09-2019 8:08am

stunmer wrote: »

My wife and I have decided to sell both our cars and buy one family car.

We both rang our insurance companies to be updated for the new car - fully comp. Now we have 2 insurance discs.

Is there a better way to go around this?

Should we both get insured separately?

We both like to have the ability to be insured to drive other cars (third party I think). Do we need our own insurance for this or can we do that as a named driver?

Is be interested to know what other people do in this situation.

Can you not just get fully comp on the one policy for your car that covers you both to drive other cars?

Sarn · 07-09-2019 8:11am

Edit: never mind, seems you can have two policies.

Cakerbaker · 07-09-2019 8:17am

Deleted User wrote: »

One as main driver one as named driver. Only issue is named driver will have no no claims bonus should they buy a second car.

Also named driver not insured to drive other cars. But it generally costs nothing for the named driver.

If you swap the insurance over and back between spouses every year you both keep your no claims. It expires after 24 months.

Sarn · 07-09-2019 8:31am

The one disadvantage of one policy is that the named driver can’t drive other cars under the policy. At least the insurance companies we checked didn’t allow it.

The problem with two insurance policies is that both would lose their no claims in the event of an accident and claiming off both insurance companies would be messy as they would each need to work out what percentage to pay, even more complicated if you add the other car’s insurance.

whomitconcerns · 07-09-2019 1:37pm

Sarn wrote: »

The one disadvantage of one policy is that the named driver can’t drive other cars under the policy. At least the insurance companies we checked didn’t allow it.

The problem with two insurance policies is that both would lose their no claims in the event of an accident and claiming off both insurance companies would be messy as they would each need to work out what percentage to pay, even more complicated if you add the other car’s insurance.

Exactly, multiple policies on one car only benefits the insurance companies.

Eggs For Dinner · 07-09-2019 2:51pm

You need to regulate the situation. Insurers wouldn't be happy with duplicated cover as there is the potential for fraud (not saying that is the situation here) as well as the scenario where 2 insurers are arguing over which policy is liable for any claim

mgbgt1978 · 07-09-2019 9:37pm

Ah here. Would you ever give it a rest. As another poster has said, it is allowable.

One Car. Two people both paying to insure it. And Insurers wouldn't be happy with that ????
If any other Industry could find a way to get two customers to pay for just one item they would be over the moon.
But yet, one of the most corrupt and exploitative Industries in Ireland (plenty of Dail committee sessions will agree with this) 'might' have an issue with this :rolleyes:.

Irishphotodesk · 07-09-2019 9:44pm

OP, have you tried asking the insurance company or a broker for a solution ?

Jurgen The German · 07-09-2019 9:49pm

mgbgt1978 wrote: »

Ah here. Would you ever give it a rest. As another poster has said, it is allowable.

One Car. Two people both paying to insure it. And Insurers wouldn't be happy with that ????
If any other Industry could find a way to get two customers to pay for just one item they would be over the moon.
But yet, one of the most corrupt and exploitative Industries in Ireland (plenty of Dail committee sessions will agree with this) 'might' have an issue with this :rolleyes:.

You clearly know nothing about insurance. No insurer will knowingly insure a car that is already insured. It's called dual insurance and causes issues if there is a claim.

OP, go with the cheapest insurer that is offering the best cover. If you or your spouse are named on the policy you will have full cover to drive and in the event you decide you need a second car down the line you will get the benefit of an introductory bonus ie the same as having had a policy in your own name.

mgbgt1978 · 07-09-2019 9:59pm

Jurgen The German wrote: »

You clearly know nothing about insurance. No insurer will knowingly insure a car that is already insured. It's called dual insurance and causes issues if there is a claim.

OP, go with the cheapest insurer that is offering the best cover. If you or your spouse are named on the policy you will have full cover to drive and in the event you decide you need a second car down the line you will get the benefit of an introductory bonus ie the same as having had a policy in your own name.

Total BS. And I'm not even going to explain it to you....

daheff · 07-09-2019 10:07pm

mgbgt1978 wrote: »

Total BS. And I'm not even going to explain it to you....

Not quite bs, but not quite my experience of it either

Got a second car a few years back. Mrs was named driver on my insurance

Some insurers would give her 0.5 years nct for each year of named experience...a couple gave year for year.

But as somebody else said, keep changing main driver each year so every other year you are main driver and in between you are named driver. This will keep up the ncb

Jurgen The German · 07-09-2019 10:10pm

mgbgt1978 wrote: »

Total BS. And I'm not even going to explain it to you....

It's ok, I wouldn't expect you to explain something you clearly have no knowledge of because it might make you look a bit silly.

mgbgt1978 · 07-09-2019 10:20pm

It's OK. You googled it. Nothing to be ashamed of. The only mention of 'dual insurance' is on a US site...and even they say it's totally legal, only that the same insurer will not insure one vehicle under two separate policies.

As for your comment that all Insurers will accept named driving experience the same as a 'proper' NCB ....again total BS.

Jurgen The German · 07-09-2019 10:23pm

mgbgt1978 wrote: »

It's OK. You googled it. Nothing to be ashamed of. The only mention of 'dual insurance' is on a US site...and even they say it's totally legal, only that the same insurer will not insure one vehicle under two separate policies.

As for your comment that all Insurers will accept named driving experience the same as a 'proper' NCB ....again total BS.

No son, I've worked in insurance for more than a decade. I spent over five years working as an underwriter for an irish based insurance company underwriting motor insurance so I will take my knowledge over your "knowledge" if it's all the same to you. And now you've gone and made yourself look silly, I did warn you to be fair.

mgbgt1978 · 07-09-2019 10:26pm

Jurgen The German wrote: »

in the event you decide you need a second car down the line you will get the benefit of an introductory bonus ie the same as having had a policy in your own name.

So that is true for all insurers across the board in Ireland ? A named Driver will get the same NCB as a Policy holder when looking for quotes ?

Jurgen The German · 07-09-2019 10:40pm

mgbgt1978 wrote: »

So that is true for all insurers across the board in Ireland ? A named Driver will get the same NCB as a Policy holder when looking for quotes ?

No, and I didn't say that. I said insurers will allow an introductory bonus. This would be applied on the same scale as their - the insurers - actual bonus. Some Insurers have in the last couple of years began stretching out their NCD. Historically 5 years would be the max they would discount by but there are a couple that give an NCD up to 8 or 9 years. This is a bit of a misnomer as all they did was increase their base rates so they could charge people more that dont have 8 or 9 years claims free driving.

Eggs For Dinner · 07-09-2019 10:46pm

mgbgt1978 wrote: »

Ah here. Would you ever give it a rest. As another poster has said, it is allowable.

One Car. Two people both paying to insure it. And Insurers wouldn't be happy with that ????

Stop would ya!

I understand everyone's justifiable anger at the level of premiums in Ireland, but you're just tilting at windmills at this stage.

If you make either insurer that there is a 2nd policy out there on the same car, they will want it sorted ASAP

mgbgt1978 · 07-09-2019 10:54pm

Jurgen The German wrote: »

in the event you decide you need a second car down the line you will get the benefit of an introductory bonus ie the same as having had a policy in your own name.

mgbgt1978 wrote: »

So that is true for all insurers across the board in Ireland ? A named Driver will get the same NCB as a Policy holder when looking for quotes ?

Jurgen The German wrote: »

No, and I didn't say that. I said insurers will allow an introductory bonus. This would be applied on the same scale as their - the insurers - actual bonus. Some Insurers have in the last couple of years began stretching out their NCD. Historically 5 years would be the max they would discount by but there are a couple that give an NCD up to 8 or 9 years. This is a bit of a misnomer as all they did was increase their base rates so they could charge people more that dont have 8 or 9 years claims free driving.

Em. You did say that. You can try and deflect all you like with NCD 'stretching', etc....but you did say that a named driver would get the same NCD as a Policy holder. The fact is that Named drivers will rarely (if ever) get the same NCD as a 'Full' Policy Holder.
You could have said that a Named driver might get a reduced NCD of some sort....but you didn't.
Sorry if this seems a bit pedantic to you but insurers are far more pedantic than myself, as you are possibly aware.

stunmer · 09-09-2019 9:06am

Thanks for the replies folks.

Going to add the wife as a named driver on my insurance today and then cancel her insurance. She reckons she can get by without needing to drive other cars.

Might re-evaluate after a year to change the insurance into her name so we don't loose the NCB.

Cakerbaker · 09-09-2019 9:47am

If there are other cars she may need to drive regularly it may be worth seeing if those drivers wouldn’t mind adding her as a named driver. Now I know this would depend on your relationship with those people. For example my mother has me as a named driver in hers and it cost nothing extra. Means I can driver her car if needed when my husband is the insured driver on our car.

Married, share one car, best insurance?

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