What does everybody for for insurance?

[TheClutchBasketPodcast]

This is aimed specifically at those who own too many vehicles i.e. 2 or more.

 

I own 1 car and 2 motorcycles and the last time I had to do insurance, I found it was cheapest to transfer my no claims to the most expensive bike and start over on the other one.

 

I am looking to purchase another car, taking it to 2 cars and 2 bikes. Insuring each individually and having to start from 0 ncb with every new vehicle is starting to make the whole process excessively expensive.

 

I know there are folks on here with entirely too many vehicles so whats been your most cost effective way of insuring them all simultaneously.

[Wingz123]

First question would be what is your postcode and second would be how old are you?

 

Trade Policy - £1053 a year for me, I am 29 years old and had my license since I was 17 back in August of 2007, fully comp, my trade plates are on this policy, as is my recovery truck, and numerous other vehicles. Covers me for absolutely anything up to 3.5t whether it be a Peugeot 205 diesel or a Pagani Zonda I be covered.

 

If I were to insure all the vehicles individually.....

 

Truck......£800?

Fiesta....£300?

Audi A6....£450?

Prius.....£250? although this has its own private hire cab insurance that did originally work out to be just over £4,000 a year but has since come down and is now just over £2,000 a year.

BMW 328ci - £650?

Volvo XC90 - £550/600?

 

There are more on my policy but you get the jist....then there is the road tax for all these too..........

 

Will never go back to a bulk standard policy....why on earth would you? Can't remember why Brammy mentioned a trade policy wouldn't work for him but for the amount of cars he goes through and the admin fees he'd save chopping and changing cars over all the time that alone must pay for the policy. To me it would be a no brainer.

 

Oh and I've never been met with "that's too old or thats not new enough sir" when I pick up the phone or drop them an email. I've had a 69' Roller on it before!.....If its got a Plate or a VIN Number.....it'll go on there!

[TheClutchBasketPodcast]

I am 31 and have 13 odd years ncb for cars. I think 4/5 for the bike.

 

I have had to insure one bike with 0 ncb because it is used on the other bike.

 

Sure not every joe bloggs can get trade insurance if you don’t own a suitable business.

 

 

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[TheClutchBasketPodcast]

Post code is kt6. Sw london. Soon to change to north london though

 

 

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[Wingz123]

Walton? Weybridge? Either way, that shouldn't be a problem because you trade from home don't you - That's it. A North London postcode shouldn't be an issue either.

 

You can incorporate bikes too. Only thing with NCB is that when you initially take the policy out they factor in the NCB that you have from your private insurance vehicle and then that goes towards your trade premium after which you then start to accrue TRADE NCB and after 2 years I believe your original NCB that you had on your private vehicle is lost. But don't be down about that, as I say, as I have no plans to change back it really isn't a problem. My plan is to continue to shop about each year and in time my trade policy will reduce as it has been doing. 

 

For what its worth, I've a friend of whom is mid 60's and he has had his trade policy so long he pays just over £100. Now, when I first that I thought that to be absolutely crazy. That was for a policy virtually identical to mine too. But I promise you this, he is quite a reserved chap and is not one to spurt a load of rubbish.

 

As the policy I have is fully comp, providing the car is insured on my policy and other persons insurance covers them to drive other vehicles that are fully comp insured they can drive whatever....cough cough.

 

Oh and my policy also has demonstrator insurance.......so anyone can test drive my vehicles providing I am sat in with them (not that is really relevant for your purpose)

 

If you need any help re the paperwork side of it just PM me....

[95 quid Peugeot]

I'd echo Wingz

I've a trade policy. Easy to get I'm with Bollington, excellent service and being a bit older than James it's a lot cheaper. I'm paying 680 can add and remove vehicles at whim online instantly.

I've Mrs 95 on as well.

I limited max value of vehicles to 8500 each

[gadgetgricey]

It took a good few years of planning, but decided to use the 2year no claims retention limit to my advantage.

 

Basically only had one main policy under name Michael Hunt... when renewed did it under name Mike Hunt.

Then on year three renewed for Michael Hunt using year 1 policy. (They did query this, but accepted it without much issue)

Then on year four reverted back to Mike Hunt using year 2....

 

That that gave me two full NCD's on two separate policies,

 

Never actually thought I would use it to insure two cars at the same time, it was primarily a "sacrificial" policy I could use to teach my son to drive, and possibly insure on his first car. He's shown ZERO interest in learning to drive , so now have a small fleet of cars that I can swap between as needed. 

 

Another side suggestion is Direct Line allow you to add an additional car to your policy for up to 90 days in the year. (I think the dates are correct)

They will mirror your NCD on main policy which is useful, you just have to check the reasons for the extra cover. Some aren't allowed.

 

Also Classic car insurance can be an option dependent on age of car.

 

See a couple of pop ups saying responses added as I was typing, so apologies if this has already been said. Just cant be arsed to type it out again/amend it.

[sutty2006]

I used to have a traders policy. I’ve now gone to a multi car policy as I no longer do any buying n selling....plus the level of cover is better on the multi policy.

[bangernomics]

Tradex policy shared with a friend, we do maybe 3-4 cars a year at best. They call it a trade policy but really it’s a too many cars policy.

 

My renewal was £1340 for the two of us. 16 years without a claim and it’s never gone down. That grates but I couldn’t insure the camper for that alone so the rest is gravy.

[Tamworthbay]

I'd echo Wingz

I've a trade policy. Easy to get I'm with Bollington, excellent service and being a bit older than James it's a lot cheaper. I'm paying 680 can add and remove vehicles at whim online instantly.

I've Mrs 95 on as well.

I limited max value of vehicles to 8500 each

Do you trade/ work in the motor trade? The reason I ask is when I tried to get a trade policy they asked what my main profession was and as it wasn’t in the motor trade they wouldn’t quote.

[Wingz123]

Do you trade/ work in the motor trade? The reason I ask is when I tried to get a trade policy they asked what my main profession was and as it wasn’t in the motor trade they wouldn’t quote.

 

You respond with - part-time trade from home.

[Tamworthbay]

You respond with - part-time trade from home.

I tried that and they said it wasn’t enough. It was a couple of years back so perhaps it’s worth another go as back up to four cars now.

[Wingz123]

Yeh switch companies - there are companies out there that will insure the occasional trader so to speak....

[95 quid Peugeot]

You respond with - part-time trade from home.

That's what I said

[wuvvum]

Yup, I'm like £95Pug - trade policy through Bollington, registered as part-time trader from home.  I get through more than enough cars in a year to satisfy their requirements.

[Joey spud]

Be aware that trade policies are by nature designed for motor traders.

 

If you have an accident and total a car you will only recieve the trade (not retail) value of the vehicle.

 

Also if you make a claim you may well be asked to prove your trader status by providing them with copies of invoices and receipts even bank account and if you can't satisfy them that you are legit they can refuse to pay out.

[Crispian_J_Hotson]

I have classic on the 635 and comp+commuting on the Jag. The Disco I registered to the missis', she can pay her own insurance (which I'm paying for ultimately anyway) it's all about £900. Then there's road fund licence which is about the same.

[Shirley Knott]

I'm 36 with 10 years NCB and pay for 3 cars as follows...

 

Golf- £175 comprehensive with Adrian Flux using the 10 years NCB on a 6k mileage policy.

Lupo- £205 comprehensive with Mrs Eunos as the main driver in a quest to achieve her first year's NCB on a 6k mileage policy.

Volvo 940- £150 comprehensive classic policy with Lancaster on a 3k mileage policy.

 

That's £530 all in, not bad considering we can both drive any of the cars.

[garbaldy]

Every single time this comes up and people recommend trade policys I call up the recommended ones and bloody hell it's thousands, how the hell you guys get them at such low prices I don't know.

 

Just now I've got four policys running all fully comp and all have no voluntary excess two are also limited milage.

Bmw all the bells and whistles £185

Lancer all the bells and whistles £162

Colt classic 5k milage limit £108

Tiger 8k limited milage £130

A new policy for trooper with no no claims bonus is priced at £175

 

Now if I could get a trade policy around a grand I would as I've used day insurance 6 times on collections this year already.

[TheClutchBasketPodcast]

Lots to things to think about. My current total is;

 

cb500 - 0ncb - £250

fz6 - 4 years ncb - £250

polo - million year ncb - £150ish

 

Looking to buy an mr2 which will probably get the polo NCB and then I will have to pay another £5-600 for that insurance + the polo on 0 ncb. Maybe one of those companies that mirror the NCB will do me something sensible. Owning a array of modest vehicles will actually cost me a mint by the time I am done.

[Daviemck2006]

I have trade insurance and it is just over £500 for the year. I have a max value of £7500, no limits on the insurance group kr amount of vehicles. Add or remone online, and it covers me driving any car without telling them for 14 days. Better telling them though, as you get stopped by camera cars if its not notified. I am not a trader, and told them thag but buy and fix cars as a hobby. As long as I have 10 notified a year they are happy.

 

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[mercrocker]

I only buy insurance so I can sleep at night.   Got 5 vehicles but they are all spread.  

 

Campervan and Fiesta daily are with Just Kampers for £300 total ( I don't have any NCB as I have been running on classic policies for years) 

Morrises are with Peter James, total cost £98 fully comp, no mileage limit, no commuting restriction, must have other car (Camper qualifies) 

Missus has Merc on her own policy fully comp £185 pa.   

 

total annual cost is just under six hundred quid and I correctly state who the main user is, where the vehicles are kept and the use to which they are put. 

 

I tried to monkey my insurance as a lad, got knocked off my Triumph, girl on back got injured and the insurance company decided I wasn't actually covered.   It was a very dark period in my life that I have no wish to re-live so even if I spend twice what I "might" be able to do on premiums it's worth it, like I say, to sleep at night!

[Saabnut]

I too have a trade policy but it is specialised classic policy. It covers any vehicle and I have access to the MID. It covers anyone working for me, and also has friends and family cover for leisure use as long as they are over 25, so basically unlimited drivers and vehicles. It also covers stock up to a value of £310,000

 

As you can imagine, this is not cheap, current renewal is just under £2700 but the Cobra alone would cost about £2000 on its own

 

The big downsides to a trade policy is you need to keep records of your trading to prove you are a trader in the case of a claim, which of course means you keep a record for the tax man. Also, the biggest disadvantage is that whenever you sell a car, or parts, to anyone you are by definition a trader so all the legal protection of the buyer, warranty claims etc fall on you. Do think about this before becoming a trader just for insurance. Also, you mortgage company and some councils may object to you trading from home, and planning permission may be required. In Scotland, all car traders have to be licenced and operate from licenced premises.

[drewd]

We're with Aviva multicar, which gives 20% off the second policy.

 

It sounds like I am doing it wrong though, as the second policy seems loads compared to what others are paying.

 

Main policy in my name, 307 1.6 hdi, full no claims, 15k miles, parked on the road and wife as named driver. £400 ish

 

K11 Micra policy in my wife's name, me as main driver, 6k miles, 0 no claims, parked on the road, £900 ish.

 

Both in our 30s, clean licenses etc. I might have to shop for a better quote for the Micra!

[Wingz123]

That Micra sounds obscenely expensive!!! Even with the No claims I would expect that to be circa £200....

[Alfamale]

Classic policies are cheap for me so don’t bother with trader policy.

 

Current insurance is costing me:

Daily 2012 BMW X3 - £350

Delta HF4WD - £90 (limited to 3k per year)

Mk4 Escort Estate -£90 per year (limited to 3k per year)

1986 Alfa Spider -£110 per year (limited to 3k per year)

 

Had a quote on a trader policy at £1100 so didn’t make sense for me. Cheaper to pay admin fees or walk away from a policy when I sell.

 

Plus what Saabnut says about sale of goods act etc...

[loserone]

K11cs are expensive to insure through Aviva, we found.

 

Currently:

3.0 legacy spec B, my name, 9 years NCB, one fault claim: £310

Leaf, Mrs. Name, 2 years NCB after I crashed it into a stationary BMW last year shredding two years off it. £470

MGF, my name, 11 years NCB, I still have that fault claim. £110.

 

All on one Aviva multicar policy.

[loserone]

Drewd, I bet if you weren't the main driver it would come down, not go up.

[Mrcento]

I must be doing it very wrong, every multicar policy quote i have ever received is more than just having cars on 2 separate policies, one with NCB, one without.

 

For example, i'm £340 a year for the Disco with 10 years NCB, an Astra i was looking at as a stopgap with no NCB would be £360, with the NCB, it would be £156.

 

So you'd think the Multicar should be somewhere around what i pay for the Discovery plus the NCB rate for the Astra... maybe a little more, maybe around the £5-550ish region?

 

Nope. £810. A full £110 more than 2 policies.

 

EDIT- LOL, it gets better, apparently adding a different car to Multicar causes the cost of insuring a Disco to go up to over £1000 a year on its own. Rip off.

[wuvvum]

See what you're doing there is you're trying to apply logic and common sense to car insurance.  Schoolboy error.