Owning 2nd Car Insurance

[Perfection]

Hi as I had never owned a 2nd car. I am wondering how do I best buying the insurance for the second car.

My current insurance is on my Toyota Verso and has maximum no claims discount.

Now I am considering buying another car, potentially a Toyota CH-R hybrid.

Question and advice:

Would it be more cost effective to insure the CH-R using a new insurance with zero no claims, or use my current insurance which has maximum no claims.,?

I am currently with Churchill but I won't renew with them next time. Also wondering if any company insurance would provide a second car insurance under the same policy..?

[FROSTYBALLS]

Will you be the main driver for both vehicles or will there be different main drivers?

If you're the main driver for both, then your NCD may apply on both.

If another person is the main driver for one car, then the insurance for that car should be in their name.

Some insurers offer multi car policies - one policy for the two vehicles.

More detail would be helpful

[Bper]

Hi Mars, in some cases, adding your new car to a multicar insurance policy with your existing insurer Churchill in this case may be cheaper than taking out a separate policy for the CH-R with zero no claims bonus NCB.

Many insurers offer a discount for insuring multiple vehicles under one policy. This discount can be reasonable.

Maintaining your NCB by adding the CH-R to your existing policy, you can transfer your maximum NCB from the Verso, potentially leading to a much lower premium for the CH-R compared to a new policy with zero NCB.But like all insurance these days shop around on comparison sites etc to get the best deal. Hope this helps.

[Cyker]

The NCB follows YOU, not your car, so you can have multiple policies with that NCB as long as you are the main driver of the policy and not just a named driver.

This also means if you have an accident with one car it'll affect the other though.

Remember to say you have use of another car and also split the mileage - i.e. Don't put e.g. 10,000 for both if you're going to be using them equally, but say e.g. 7000 and 3000 or 5000 and 5000, as a lower annual mileage helps bring the premium down, as does having access to another car. Also stick as many middle-aged women with clean licences as you can on as named drivers; That also helps bring it down  

You'll have to do a lot of quote gathering to find the best combination - multi-car policies can be cheaper but not always. A friend of mine was using multi-car for ages but Admiral started jacking the prices up significantly and he got a significantly lower overall cost having 2 separate policies with two different insurers, but this is a bit unusual.

[Rhymes with Paris]

1 hour ago, Cyker said:

Also stick as many middle-aged women with clean licences as you can on as named drivers; That also helps bring it down

Do you know any spare middle aged women?

But on topic, unusual for me I know, I am about to renew with LV, there new quote was only £50 or so greater than last year, I was expecting it to double with all the doom and gloom headlines, so that was a nice surprise

They promote their multi car policies actively and sound a good deal, also I get a small discount for having a house insurance policy with them on both the car and vice versa on the house one.

I would say worth trying them directly to compare.

[Perfection]

3 hours ago, FROSTYBALLS said:

Will you be the main driver for both vehicles or will there be different main drivers?

If you're the main driver for both, then your NCD may apply on both.

If another person is the main driver for one car, then the insurance for that car should be in their name.

Some insurers offer multi car policies - one policy for the two vehicles.

More detail would be helpful

Yes I will be the main driver. I could put an older female family member as named driver. But strangely that my older female family member insurance dropped by £100 when my name was put on her policy as named driver.

Anyway thanks for the info regarding to the NCB, I thought that only follows one car. But now it's like I can use that for the second car... 

Yes I will do more research into the actual CH-R first before I spend my hard earned money. So now I will be heading to the CH-R section and have a browse to see what's to look out for. Been thinking about the 1.8 or the 2.0 hybrid.