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Monthly car insurance

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  • 23-11-2020 4:00pm
    #1
    Gus Ivey
    Registered Users Posts: 631 ✭✭✭


    Hi everyone,

    Hope it's ok to post this here.

    I have gotten a new job that not accessible by public transport. I don't have a car at the moment, but I can get a loan of a car temporarily. I will need to get a month by month insurance until I get a car myself.

    Does anyone have any experience getting monthly insurance, and can someone point me in the direction of who might have the best offers?

    Thank you


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    #2
    El Gato De Negocios
    Registered Users Posts: 6,706 ✭✭✭El Gato De Negocios


    No insurers will offer monthly insurance policies. Secondly, you cannot insure something is not owned by you as you have no insurable interest in it.


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    #3
    Miscreant
    Registered Users Posts: 2,214 ✭✭✭Miscreant


    Your best bet might be to ask the current owner of the car you are borrowing to add you to their insurance as a "Named Driver" (this is assuming the car is already insured of course).
    As pointed out, there is no month to month insurance in Ireland.
    You could also take out a full policy and then cancel it when you don't need it any longer in a few months... With this approach though there may be a penalty and although you will get some money back, it will not be "your full premium divided by 12, multiplied by however many months are left on the policy".


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    #4
    biko
    Registered Users Posts: 81,223 ✭✭✭✭biko


    Possibly this can suit you
    https://www.leaseplan.com/en-ie/private/
    See it as an all-inclusive rental package. At a fixed monthly fee. No need to worry about insurance, maintenance and (most) repairs. We do that for you. You just pay the fuel and go.
    Ring them for prices.


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    #5
    coylemj
    Registered Users Posts: 25,357 ✭✭✭✭coylemj


    Miscreant wrote: »
    As pointed out, there is no month to month insurance in Ireland.
    You could also take out a full policy and then cancel it when you don't need it any longer in a few months... With this approach though there may be a penalty and although you will get some money back, it will not be "your full premium divided by 12, multiplied by however many months are left on the policy".

    +1 for 'may', substitute 'will'.

    All of the insurance companies which document their cancellation charges in their policy documents penalise you if you cancel midway through the first year of a policy. Aviva, for example, will only refund 50% after 3 months. Axa are only slightly more generous but they still only give you back 60% after three months.


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    #6
    Gus Ivey
    Registered Users Posts: 631 ✭✭✭Gus Ivey


    Thanks for the responses.

    The car I will be using is not insured at the moment. It is a spare car sitting in the drive way that a family member owns. It will be sold eventually but I can use it for the next few months.

    So I am assuming I can just say it is my own vehicle?

    Also, I would not be cancelling my insurance after a few months. I would be buying my own vehicle and transferring it over. It will be a smaller engine size too, so would I be expecting the premium to be lowered in that case??


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    #7
    beachhead
    Registered Users Posts: 2,322 ✭✭✭beachhead


    You could try one of the newer car hire companies-thinking of gocar.ie But,prob cost a packet over a period of months.


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    #8
    grogi
    Registered Users Posts: 8,615 ✭✭✭grogi


    El Gato De Negocios wrote: »
    No insurers will offer monthly insurance policies. Secondly, you cannot insure something is not owned by you as you have no insurable interest in it.

    One doesn't insure a car (you can of course, but it is not mandatory). One need to insure themselves against any claims against them arising from damage inflicted while driving said vehicle.

    There certainly is insurable interest to have 3rd party liability insurance while driving any vehicle, not only yours.


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    #9
    coylemj
    Registered Users Posts: 25,357 ✭✭✭✭coylemj


    Gus Ivey wrote: »
    So I am assuming I can just say it is my own vehicle?

    Not in the proposal document for motor insurance you can't. Knowingly making a false statement to obtain motor insurance is a criminal offence and the insurance policy you obtain won't be worth the paper it's written on.

    64.—(1) A person shall not, for the purpose or in the course of obtaining the issue of an approved policy of insurance or an approved guarantee to himself or to another person, or for the purpose of securing his or another person's participation in the cover afforded by an approved policy of insurance or an approved guarantee, commit any fraud or make any representation or statement (whether in writing or verbally or by conduct) which is to his knowledge false or misleading in any material respect.

    http://www.irishstatutebook.ie/eli/1961/act/24/section/64/enacted/en/html#sec64


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    #10
    coylemj
    Registered Users Posts: 25,357 ✭✭✭✭coylemj


    OP, you said the car is owned by a family member but is currently not insured. You need to get it transferred into your name, then you can insure it. This will also have the benefit that you will not have to pay any arrears (if any) on the tax disc as a new owner doesn't have to backtax the car, you only have to tax it from the 1st of the month in which the change of registered owner happened. When you get your own car, just transfer the registration back to the previous owner.


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    #11
    Gus Ivey
    Registered Users Posts: 631 ✭✭✭Gus Ivey


    The family member got a new car recently, and the car I hope to use is up to date in terms of nct and tax.

    Do I really need to change the owner of the car to me before I can get insured on it??



    If the car is not mine, would that make the premium more expensive?


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    #12
    grogi
    Registered Users Posts: 8,615 ✭✭✭grogi


    Gus Ivey wrote: »
    Do I really need to change the owner of the car to me before I can get insured on it??

    If the car is not mine, would that make the premium more expensive?

    Nobody would offer you insurance if the vehicle you want to be insured driving isn't yours. Too much risk in eyes of the insurance business.


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    #13
    Gus Ivey
    Registered Users Posts: 631 ✭✭✭Gus Ivey


    grogi wrote: »
    Nobody would offer you insurance if the vehicle you want to be insured driving isn't yours. Too much risk in eyes of the insurance business.

    Does it make a difference if the vehicle is owned by a family member, rather than a friend's car?

    Does anyone have any idea how long it would take to put the car in my name?


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    #14
    grogi
    Registered Users Posts: 8,615 ✭✭✭grogi


    Gus Ivey wrote: »
    Does it make a difference if the vehicle is owned by a family member, rather than a friend's car?

    No. Unless it is your spouse.
    Gus Ivey wrote: »
    Does anyone have any idea how long it would take to put the car in my name?

    15 secs. Fill the declaration on the back of vehicle registration cert and handle a fixed amount of money to the previous owner (€1 will be fine). You just bought this vehicle and from that point you own the car in the letter of the law. You have to send the cert back to Shannon to receive updated cert, but that is just formality. You can insure yourself to drive that car from the moment that declaration is signed.


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    #15
    Gus Ivey
    Registered Users Posts: 631 ✭✭✭Gus Ivey


    Thanks for the info. Much appreciated


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    #16
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Hire a car between now and 22nd December for buttons per day.
    Return to hire company in time for christmas and then hire again from 2nd or 3rd of January.
    Sell spare car which has NCT and TAX while they still have currency as it will be much harder to sell the car without them.

    I've tried to insure my own car for short periods of time with no success in Ireland. You've got the added complication of it not even being your own car.
    If you aren't resident in Ireland you'll have another problem on top of it.
    use car hire sites like Opodo.com or bsp-auto.com for good hire car rates.


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    #17
    grogi
    Registered Users Posts: 8,615 ✭✭✭grogi


    Deleted User wrote: »
    Hire a car between now and 22nd December for buttons per day.
    Return to hire company in time for christmas and then hire again from 2nd or 3rd of January.
    Sell spare car which has NCT and TAX while they still have currency as it will be much harder to sell the car without them.

    I've tried to insure my own car for short periods of time with no success in Ireland. You've got the added complication of it not even being your own car.
    If you aren't resident in Ireland you'll have another problem on top of it.
    use car hire sites like Opodo.com or bsp-auto.com for good hire car rates.

    Excellent advice. It is often overlooked how much owning a car actually costs :)


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