2 Vehicles, owned by 1 driver, insuranced by 2 different companies. Is this ok?

[k8_doran]

Ok, I have a car, insured fully comp in my own name. I have been insured by same company for a year and a half.

I am going to get a new vehicle, a 4x4. I have found insurance cheaper, but it is with a different company. Is it possible for one person to own 2 vehicles, with both vehicles insured but by two different companies, with the owner of the 2 vehicles being the named driver on both policies? (Hope I'm making sense!)

I will be getting rid of my car soon, but the policies will overlap for a while, is this all legal and all OK?

I am also aware that as I have one years no claims bonus, the new insurance I am taking out for the 4x4 will ask for proof of my no claim bonus. I know they will require proof in the form of my old (car) insurance renewal form...of course which I don't have as I am still insured on my car! What can I do about this? Many thanks in advance

[May57]

If still insured with the car, then you can't have any no claims bonus to tranfer on to the 4x4 insurance as they overlap, so the 4x4 insuance have to start from the beginning.

[cassa333]

Have you looked at your present insurer for double insurance? sometimes they insure the second car more cheeply.

Anyway , you can ask for a no claims certificate and they should give you one.

[LCDMAN]

You can have as many cars as you like, insured with as many insurers as you like, BUT you can only have your NCB apply to ONE policy at a time.

I had the same problem as you earlier this year and my new insurer would only start the new policy based on 0 years NCB until I sold the first car, then they re-applied my NCB and changed the price.

I would check with your current (old) insurer to see if they offer a multi-vehicle policy (even if only short-term) or will they match the quote for the 4x4 from the other company?

Be aware that cancelling a policy is not without cost. If you pay by installments then they may be levy a pro-rata lump sum to cover the cost of the time already covered, or if you paid for the whole year they will take a hefty cancellation fee before any "refund" you may be due! Check your policy for details of these fees. Both are good reasons to try to get a deal from your current insurer and stay with them at least until the full year is up.

[gouldc]

Whilst it is true that you can only use your no-claims bonus on one policy, and it has been pointed out that some companies offer multicar policies for households with more than one vehicle, there is a second option.

We make allowances for people who have a second car, but only one set of no-claims bonus, and whilst the premium may not be as cheap as having a multicar policy or no-claim bonus for that vehickle, we do make a small discount to allow for this