Car Insurance Ideas?

Peerzy · 6 Jun 2013 at 13:49

I'm driving to Holland in August and need to take 5 other people so I can't take mine.

A friend (who owns a car garage) has agreed to lend me a VW Touran (2008, 1.6 petrol) for the drive. The car is insured by their trade policy for anybody who works at the garage and as use as a courtesy car.

I've called Admiral Multicar (who I currently insure with) and then won't insure the car as I'm borrowing it. They only insure cars on a temporary basis if it's my car and I own it or if it's a courtesy car / hire car (which it won't be).

Day insure is impossible to get as I'm on 23 and obviously need European cover.

A full quote for the car to get it added to my policy with Admiral is £331.20 which is mental for only 5 days use.

What other options do I have other than taking out a policy and cancelling before the 14 day cooling off period? I've heard you can do this and only be left to pay an admin fee of around £25. The only issue with this is if I have to make a claim (very unlikely) then I'll be down the entire year price (around £1000) and the excess (£250)?

Does anyone have an experience with this sort of thing, or how have people got insured legally before to borrow a car?

paradigm · 6 Jun 2013 at 13:52

Get your friend to draw up a rental agreement, insure it as a hire car.

Peerzy · 6 Jun 2013 at 13:54

paradigm said:
Get your friend to draw up a rental agreement, insure it as a hire car.

He doesn't do any renting of cars so I'm not sure he'd want to spend time doing this or really get involved. He's lending me the car for nothing so is already doing me a big favour.

Jay · 6 Jun 2013 at 13:58

Can't your car go in for some "repair work" or "service" and you get the Touran as courtesy?

Peerzy · 6 Jun 2013 at 14:14

Jay said:
Can't your car go in for some "repair work" or "service" and you get the Touran as courtesy?

That is an option, bit of a pain though and means leaving my car there for 5 days when it doesn't need to be.

Only downside is I'd like to get an idea of the cost and if I phone up and say I'm getting a courtesy car on 1/8 for 5 days and it'll be this exact car I doubt they would believe me....

Gibbs · 6 Jun 2013 at 14:16

my father uses Budget Insurance for his policy, decent enough but can sting on the admin fees if changing car etc.

They do offer: http://www.budgetinsurance.com/temporary-car-insurance/

Peerzy · 6 Jun 2013 at 14:20

Gibbs said:
my father uses Budget Insurance for his policy, decent enough but can sting on the admin fees if changing car etc.

They do offer: http://www.budgetinsurance.com/temporary-car-insurance/

£85~, not bad but bit more than I wanted to pay ideally and I'd have to check out it covering Europe?

rossk26 · 6 Jun 2013 at 14:35

Can't you take out the full policy, and then cancel after a month and be refunded for 11 months minus any admin fees. So essentially you'll pay £331.20/12+adminfee.

snitcher · 6 Jun 2013 at 14:35

get hire car insurance or if that is not possible buy an annual policy and then cancel it after you done using it.

Haggisman · 6 Jun 2013 at 16:20

snitcher said:
get hire car insurance or if that is not possible buy an annual policy and then cancel it after you done using it.

TBH I think this is the best option - should only cost you ~£25 if you cancel within 14 days

Peerzy · 6 Jun 2013 at 21:37

rossk26 said:
Can't you take out the full policy, and then cancel after a month and be refunded for 11 months minus any admin fees. So essentially you'll pay £331.20/12+adminfee.

snitcher said:
get hire car insurance or if that is not possible buy an annual policy and then cancel it after you done using it.

Haggisman said:
TBH I think this is the best option - should only cost you ~£25 if you cancel within 14 days

I'm considering this, the issue of course is that if for some reason I need to make a claim I'll lose the entire policy amount (£331.20) plus the excess. I'd also ideally not like to deal with Admiral if I'm going to be taking the policy out and then cancelling as they insure all my other cars and it make cause complications.

rossk26 · 7 Jun 2013 at 09:46

Peerzy said:
I'm considering this, the issue of course is that if for some reason I need to make a claim I'll lose the entire policy amount (£331.20) plus the excess. I'd also ideally not like to deal with Admiral if I'm going to be taking the policy out and then cancelling as they insure all my other cars and it make cause complications.

Then don't deal with Admiral! Chose between Elephant and Bell (sister companies of Admiral I believe). And they will match whatever quote you have from Admiral, as they can see it on their systems. So no need to go through all the checks again, just confirm your details again.

Peerzy · 7 Jun 2013 at 09:51

rossk26 said:
Then don't deal with Admiral! Chose between Elephant and Bell (sister companies of Admiral I believe). And they will match whatever quote you have from Admiral, as they can see it on their systems. So no need to go through all the checks again, just confirm your details again.

By avoiding Admiral I'd rather avoid the entire group, as they information share.

The next cheapest quote was about £980, which is fine to pay if I'm getting it back, but if I need to make a claim it's a lot to lose.

rossk26 · 7 Jun 2013 at 09:59

Peerzy said:
By avoiding Admiral I'd rather avoid the entire group, as they information share.

But what are they going to do? Put a black mark on your record and refuse you insurance? They are still getting money out of you, so they will be happy regardless...