One day insurance - but with a catch

Lowe · 17 Jul 2006 at 22:57

I need insurance for one day - perhaps 3 at the most. The snag is, the car is worth £47.5k which means DayInsure won't really cover me. Anyone know of someone else that might be useful?

[TW]Fox · 17 Jul 2006 at 23:06

Is it actually worth that? You could check out the trade value and say thats the value of the car?

Lowe · 17 Jul 2006 at 23:34

It's an F355 Spider. Not sure what the trade value is tbh, it's not a car I really encounter that often!

Lowe · 17 Jul 2006 at 23:40

Parkers say:

Ferrari F355 Convertible
Spider 2d 1998/R
Insurance Group 20 Average mileage: 10,000 miles Cost New ('98) £ 103910 Franchised Dealer £ 49795 Independent Dealer £ 49795 Private Good £ 44165 Private Poor £ 38970 Part Exchange £ 41135

Where might I find a trade price Foxeh?

[TW]Fox · 17 Jul 2006 at 23:47

At that age you will need to pay for one, my book only goes back to 99 - if it was a 99S then trade is £49k - I would say its unlikely to be sub £40k so bang goes my idea

Nozzer · 17 Jul 2006 at 23:47

Trade is probably around 40k depending on condition/spec. But that's too vague for dayinsure.

May I ask what the circumstances are? If you're borrowing it, you're best off going on the owners insurance.

Lowe · 17 Jul 2006 at 23:53

Basicly my landlord bought one a couple of weeks back to replace his 360. Whilst it was clean, he'd obviously been out in it and it wasn't spotless. It needed detailing - I showed him the ropes of how to really get a good shine on her this afternoon, to which she now gleams like you'd expect.

He's offered me the driving seat if I can get insured. I'm 28, never made a claim, 3 points which are now out of date (but are on my licence) with full n/c discount.

James_N · 17 Jul 2006 at 23:55

get a quote, buy it, then cancel it within a few days?

sounds like insurance shouldnt be that bad.

Nozzer · 17 Jul 2006 at 23:55

If he has a decent policy, you'll be able to get on that no problem (I've driven a friend's lairy cars on his policy and I'm a lot younger than you with no NCB).

If not, I suggest speaking to a broker and explaining the circrumstances. If you want one to start with, MSN me.

Although there is the "insure for a few days and cancel" option. A-Plan are having a big pish for Ferrari owners at the moment.

edit: It's definitely worth more than £40k for dayinsure's purposes.

Lowe · 18 Jul 2006 at 00:01

****

Can't really justify blowing the wedge on a policy and then cancelling it. :/

Nozzer · 18 Jul 2006 at 00:03

Trust me, it's worth it

Conanius · 18 Jul 2006 at 00:05

see how much one would cost to insure in your name on a monthly policy, you might be surprised.... insure, cancel, at worst you pay for 1 month

Lowe · 18 Jul 2006 at 00:21

Just tried a confused.com. Most were either 'Policy Holder must own the vehicle' or 'Unable to quote for age' or 'YOU HAVIN A LAUGH MATE?!'

austinpowers · 18 Jul 2006 at 00:28

Ebay offer 7 day insurance when you buy a car.. Do you know someone who has? What are the details??

Violent-J · 18 Jul 2006 at 00:32

Gutted mate, If I had the opportunity to drive a Ferrari I know I would do everything in my power to get insurance. At 17 it would be even more difficult than you perhaps but I'd no doubt find a way.

If all else fails I'd sell a kidney.

Adz · 18 Jul 2006 at 01:11

Could you perhaps insure it up to the maximum value with dayinsure.com and, in the unlikely event that you smash it and it's a total loss, take out a loan to pay your landlord back? That's what I'd do, it has to be worth the risk. You may only get this opportunity once in your lifetime...

pinkegobox · 18 Jul 2006 at 01:21

confused.com was terrible for me, even on a "normal" car... i don't know what the other members think, but personally i won't risk giving them my details again.

stoofa · 18 Jul 2006 at 01:44

James_N said:
get a quote, buy it, then cancel it within a few days?

sounds like insurance shouldnt be that bad.

Which would mean that in retrospect you were never actually insured for the vehicle which would be illegal.
Insurance fraud and suggesting something else illegal in one sentence - very impressive.

Nozzer · 18 Jul 2006 at 01:46

stoofa said:
Which would mean that in retrospect you were never actually insured for the vehicle which would be illegal.
Insurance fraud and suggesting something else illegal in one sentence - very impressive.

Yeah but if you don't stack it, it's all good

stoofa · 18 Jul 2006 at 01:46

pinkegobox said:
confused.com was terrible for me, even on a "normal" car... i don't know what the other members think, but personally i won't risk giving them my details again.

They saved me a small fortune in January this year.
Fed in all my details, sat back and the cheapest quote was from Norwich Union Direct and a lot cheaper than what I was paying.
NUD then called me later that day off of the fact they had come out cheapest via confused.com
We discussed the policy, made sure it gave me everything my old one did.
Did some over the phone deals on other features and some breakdown cover and ended up nearly £200 better off for the year.