Insurance. Two people?

Discussion in 'UK Motorcycles' started by Whinging Courier, Jun 26, 2005.

  1. Oh FOAK,

    Is it possible (or legal) to have two separate insurance policies on the
    same vehicle?

    Say I own a vehicle that is insured in my name but is stored at a
    friend's house. I won't be able to make use of it all the time but would
    let my friend use it as a way of a thank you for letting me keep it
    there. I've considered putting them on as a named driver but this has
    risks associated with me and my NCB. Would they be able to take out
    insurance in their name for the same vehicle or would this ring alarm

    Whinging Courier, Jun 26, 2005
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  2. Whinging Courier

    Nick Guest

    I tried to insure a van owned and used by a mate in the same circumstances a
    few years ago, you would have thought I wanted to eat their daughters by the
    response I got from the companies I approached !!
    Nick, Jun 26, 2005
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  3. Whinging Courier

    Magpie Guest

    IM afriad not, the insurance holder must be the owner of the vehicle,
    thats unless its a leased vehicle, in which case an endorsment it put on
    the policy. You cannot have two people insurure one vehicle.

    The only answer would be either a motortraders polocy which doesnt
    require the listing of reg no's, (i believe you must have min of 10
    vehicles for this) OR one person have another insurance which allows 3rd
    party only on anyone elses vehicle.
    I use the word vehicle as this is equally true for bikes , cars or vans.
    Magpie, Jun 26, 2005
  4. In, Magpie amazed us all with this pearl of wisdom:
    What's an endorsement? Does this restrict who can use it?

    How about leasing? How hard is that? Could I, for instance, lease the
    vehicle to my mate for 10p a week or something?
    Hmm, that's pretty much the same as having a named person though, isn't
    it? I mean if there's an accident or claim, the person who's name the
    policy's in gets clobbered.
    Whinging Courier, Jun 26, 2005
  5. Whinging Courier

    Magpie Guest

    Yes the leasing co owns the bike, but the insurance is yours. SO this
    wont help you.
    You could but youd have to register as a company to do it not really viable.The Motortraders policy allows you to ride a number of unnamed bikes on
    a single policy , however the cost would be great unless you had 10
    bikes which needed insuring anyway.
    Why not agree as a named driver but agree for costs should he have an
    accident on it. Ie dont claim, but he pays for all repairs. Thats
    providing he doesnt sideswipe someone, and your the only one with a claim.
    Magpie, Jun 26, 2005
  6. In, Magpie amazed us all with this pearl of wisdom:
    The point of me leaving it there (apart from me not really having the
    room here[1]) is that they're a bit strapped. They've got a car but I've
    heard tales of woe since they sold their V50 a few months back.

    The named driver isn't really something I wanted to do. I could've gone
    halves on a separate policy in their name but they have a car and any
    claim by either of us would impact on their next renewal.

    Thanks anyway, it's answered my question anyway.

    [1] *DING* I think I've just thought of somewhere :)
    Whinging Courier, Jun 26, 2005
  7. In, Niv amazed us all with this pearl of wisdom:
    I have really the key this that does not curl the continuous one, but
    hung of him the gasoline.
    Whinging Courier, Jun 26, 2005
  8. Not legal, no.
    The Older Gentleman, Jun 26, 2005
  9. In, The Older Gentleman amazed us all with this pearl
    of wisdom:
    Ta. It was just the NCB issue but I suppose they could be covered to
    ride vehicles[1] that don't belong to them and aren't hired to them
    under a hire purchase agreement.

    [1] I think what Magpie said earlier has just sunk in :)
    Whinging Courier, Jun 26, 2005
  10. they could insure it too however you need to read the small print many
    policies it have a statement saying if two policies are in place they will
    only pay out a maximum of 50%
    steve robinson, Jun 26, 2005
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