Insurance question
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  1. #1
    Fellow Frogger!
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    Insurance question

    Is it possible to have 2 types of insurance on a car.

    eg,

    Have conprehensive insurance under a parents name from insurance company A

    and have 3rd party under another persons name from insurance B

    reason being the 2nd person needs to build their ncb, and insurance company A would never insure that person for that particular car(turbo)

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    so is there anything wrong with this? reason i would have comprehensive is in case of theft, and being in nsw, nobody has 3rd party theft and fire

    <small>[ 28 January 2003, 12:01 AM: Message edited by: Pugsly ]</small>

  2. #2
    rek
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    I'm pretty sure you're not allowed to do that (have one car under two insurance policies.)
    Peter
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  3. #3
    Moderator Alan S's Avatar
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    If Chipper's lurking around he may answer this, if 'Nanny' will let him mallet but I think you would be a bit vulnerable trying that on.
    Knowing Insurance companies as I do, they would probably take the money alright but then only cover you for the lesser option in case of a prang.
    With my boys, I have used two differing types of insurance; TPFT (third party fire & theft) which means if the car is pinched and/or burnt it's got "some" coverage as well as insuring against damage to someone elses property, or nominate them as one of the drivers which means that sometimes this will increase the premiums and will always increase the excess but at least gives you full cover.
    The economics of the latter I would suggest could be a cheaper overall scenario than paying for two policies anyway.
    The reason I couldn't see any insurance company looking too kindly on the two policies on the one car is that over in Europe a few years ago there was a scam going where one car would be insured by various people with different insurance companies. Expensive Mercs were their favourite. After a few weeks, the car would be mysteriously stolen & burnt or another one was getting run off a pier into the sea whereupon everybody would lodge a claim with their respective insurance company. A $100,000 car soon became a $600,000 investment if 6 were involved. Eventually a couple got careless & both insured with the same company & that blew the whole deal away hence Insurance companies I would imagine would get very testy if they discovered more than one policy on any individual car. wink

    Alan S
    If it ain't broke, use a 12" shifter.....that usually does the trick!!

  4. #4
    Fellow Frogger!
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    thanks alan, i would have placed myself as a nominated driver but the insurance company in question will insure the car as if it was under my names anyways and that means $$$$

  5. #5
    Gone Fishin' Ray Bell's Avatar
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    I think you'll find, as has been mentioned, they will take the money for both. No problems with taking the money.

    Then, if there is a claim, they will not pay on either unless there is an indemnity signed for the policy not being claimed on.

  6. #6
    Gone Fishin' Ray Bell's Avatar
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    Of course, you can always insure a car that's not insured otherwise... I have two of these... and you can insure one that's not even driven if you want.

    Probably even one that's not registered...

  7. #7
    Moderator Alan S's Avatar
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    Pugsly:
    thanks alan, i would have placed myself as a nominated driver but the insurance company in question will insure the car as if it was under my names anyways and that means $$$$
    Where this starts to get very touchy is due to "duty of disclosure." A typical example a mate of one of my sons turns up pedalling a rice cooker; Skyline Gt-st or some bloody thing or other. He lives about an hour & a half north of us but his father lives a couple of klms away. The car is reistered in his fathers name and he (father) is supposedly the main driver. Father in his "infinite wisdom" decided to overlook the fact the jappo was a turbo when he insured it "see son; that's the way you get cheap premiums" and when he was telling me the story I was telling him he'd be in deep $#!+ if he bent it. "But I'm not gointa!!" came the knowledgeable reply. head_ban head_ban The following day we get a phone call; guess whose sitting a-up on the highway??? Got clipped as he was coming to the end of a divided lane by a (of all things) Camry. roll_lau roll_lau I haven't spoken to him since but presumably the big hair dryer went to inhale & didn't snap in quits as fast as expected. moon
    Should be a fairly good buy at the Auctions shortly...make a good convertible as the had to remove some of the turet to dig him out. He'll be paying that loan off for a loooong time. mallet Not worth the risk.

    Alan S
    If it ain't broke, use a 12" shifter.....that usually does the trick!!

  8. #8
    Fellow Frogger!
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    alan, sounded like you were predicting my future there! that was exactly what i was planning on buying, skyline gtst. but after doing some car shopping today and the insurance hassles i've decided against it. Atm i'm looking at getting a mx5...sorry its not french. I do like the 306.. but i've always liked n mx5 too =)..and insurance is reasonable

    <small>[ 29 January 2003, 12:13 AM: Message edited by: Pugsly ]</small>

  9. #9
    Moderator Alan S's Avatar
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    My son has a GT-R that has just cost him $3000+ to insure with no claim bonus as well as a 4 figure excess. His girlfriend has a Mazda/Ford Capri/MX5....I'd suggest you have a real good talk to them before you head down that road to disaster, unless of course you like constantly pulling engines out of cars mallet ....after these two rice cookers, he's now working feverishly to get his BX back on the road; didn't take long for the Jappy novelty to wear off and the reality of their parts prices and "reliability" to kick in. eek! eek!

    Alan S wink
    If it ain't broke, use a 12" shifter.....that usually does the trick!!

  10. #10
    Fellow Frogger!
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    the mazda is unreliable?? =(

    the capri i know is a lemon...but i thought the mazda was a good car..looks like i need to do some more research.

  11. #11
    Cal
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    Sorry, I must comment here. My father has owned an MX5 since 1990. The very first non powersteering model. I believe these are one of the finest cars designed in the last 20yrs. They are so light yet so durable, reliable and simple. They have perfect 50/50 weight distribution and handle extremely well. They are such a hoot to drive. I have learnt a lot about MX5's over the years and they are fine cars. I love my Mi16 but if I didn't have to tow with it, I would be driving an MX5 too. I have been thinking of buying one as a weekend warrior.

    Alan, these cars are not to be confused for one second with the rebodied Laser that is the Capri turd.

    Cal.
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  12. #12
    Moderator Alan S's Avatar
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    Pugsly:
    the mazda is unreliable?? =(

    the capri i know is a lemon...but i thought the mazda was a good car..looks like i need to do some more research.
    I've owned two Mazdas & neither were the MX5 admittedly. The first was a gem as far as reliability goes; rust bucket but reliable but not what I'd call bulletproof. Parts prices make European stuff pale into insignificance....Second one was an absolute dog. Unreliable beyond belief, not economical and really overall just a shitty design with some abominations of ideas.
    Unfortunately like anything there's good & bad just as there are with any brand of car, but too many people live the "legend" of Japanese reliability which whilst it holds true in many cases, also can be a myth that is an expensive experience when the wheels fall off the plot. What I'm saying is that there are a lot of people who have had amazing runs out of Jap cars and a lot who haven't; with European cars, those who have had a bad run, often due to having dodgy service done on the car, will bellow & roar for years about the experience whereas a Jap car owner who cops a lemon will grin & bear it & seems almost too embarrassed to admit to it due to the mental conditioning we've received about them over the years.
    My brother-in-law is a typical example; bought a Camry new & in 190,000 klms had 3 motors in it. Had it written off when a tree ran into him clown clown but when it came to replace the car, put Toyota to the bottom of the list. Ask him about the Camry..... "bloody good car that was" is the standard response. Wouldn't buy another one but still wouldn't say a bad word against them either; as I say..all in the mind in many ways.
    The MX5 might be an alright car, but I think you would need to look at it with an open mind as regards its condition, not be surprised that there are bad ones among them.

    Alan S
    If it ain't broke, use a 12" shifter.....that usually does the trick!!

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