Loaning a Car to a friend.

Semple · 2 May 2019 at 09:41

How long is long term? And how likely are you to use the car during that time?

Sounds like it could get quite unnecessarily expensive for you both if you're unlikely to need the car, or only drive it the once over say a 6 month period.

Mercenary Keyboard Warrior · 2 May 2019 at 10:51

Lopéz said:
Yes, but that's you insuring yourself on the same vehicle twice, not insuring two different people to drive the same vehicle.

Well most of the examples are in regards people double insuring themselves, the key points in the documentation however are clearer.

AXAs documentation :
"6. Other policies We will not pay more than our share of your claim, if you or anyone else has any other insurance which covers all or part of the same loss, damage or liability."

Its pretty much the same in them all.

As I said, if its driver a causing a crash it will be that policy only. If its eg vadalism, hit and run etc then both policies are in force and both will trigger.

MrWhippy · 3 May 2019 at 22:51

Why don't you sell her the car and borrow it back for the occasional short term use.

scaza · 4 May 2019 at 17:38

While she can't be a named driver on your policy;

Would it be possible to loan the car to her and have her insure it, with you as a named driver?

AndyCr15 · 4 May 2019 at 18:35

scaza said:
While she can't be a named driver on your policy

I don't know OP has actually explained why this is the case? Or did I miss it?

Kenai · 4 May 2019 at 20:25

Orionaut said:
I can not add her to my insurance since she is neither a "Partner" nor an "Employee" (Traders insurance) otherwise i would have done so

AndyCr15 said:
I don't know OP has actually explained why this is the case? Or did I miss it?

Presumably his trade policy is restricted to persons connected with his trade venture.

muon · 5 May 2019 at 14:20

Lopéz said:
Yes, but that's you insuring yourself on the same vehicle twice, not insuring two different people to drive the same vehicle.

So there will need to be agreement in the even of any claim.

Something like, who was driving at the time will have a strong bearing and 100% liability may fall with one insurer.

However, what if the car is stolen or crashed into whilst parked?

Also many insurers explicitly forbid it. Even when they don't in the event of an expensive claim each insurer will do their best to also hold the other accountable, so they can share costs.

An example I can't go into the details of relates to a £1m+ claim. One insurer found something incorrect in the questions answered and attempted to palm the entire claim to the other insurer (through RTA liability) as they claimed their insurance was null and void. This would definitely have ended in court to decide liability.

InvaderGIR · 5 May 2019 at 21:37

Mercenary Keyboard Warrior said:
As I said, if its driver a causing a crash it will be that policy only. If its eg vadalism, hit and run etc then both policies are in force and both will trigger.

Well, no. Only the policy that makes a claim pays anything.

You can't double claim against a vehicle (or anything) but you can have multiple insurance policies on one perfectly fine.

muon · 5 May 2019 at 21:48

InvaderGIR said:
Well, no. Only the policy that makes a claim pays anything.

You can't double claim against a vehicle (or anything) but you can have multiple insurance policies on one perfectly fine.

You're not double claiming. Each one pays 50% (exact split depends on negotiations between insurers). Both get a fault claim and both will have NCB affected unless protected.