insurance on ferrari for micra cover

[Beachboy]

i remember a long time ago there was a discussion on msc that said you cant drive another car on 3rd party cover on your own cars insurance policy if the other car is not insured already by someone else. but apparantly this isnt true. there was a report in the times recently and they checked with insurance companies. they said the loophole still exists. aslong as you are 25 or over and have comprehensive insurance on your car (call it a micra) so say a £400 annual premium. you have the right to drive any other car 3rd party at no extra cost and it doesnt have to insured by someonelse. this includes a group 20 ferrari. its said many young drivers are saving millions from the insurance companies by insuring on cheap small engined cars but driving high powered sports cars. the times even found if the 25 year old driver had applied for seperate insurance on the ferrari then a number of the insurance companies would have refused to quote because of age. but this loophole is known by the companies and is being looked at to be revised later this year..
would work well for those who buy older sports and supercars. but i dont think you would get many drivers even if rich racing about in a newer sportscars with only 3rd party cover.

 

[Low Rider]

Many companies specifically state on your policy documents that you don't have 3rd party cover on other vehicles. Mine did until I got them to add 3rd party cover on other cars for occasions when you want to share driving but are not on the other persons policy as an additional driver.

 

[Beachboy]

i have nearly always had 3rd party cover on other cars. varies with company i guess.

 

[goldstar0011]

This helped me get a car back from NE (cheers j.a.kelly)

 

[kristian]

OH... ok then... so i can FINALLY take out my:

355 GTS
Vanquish
and Chevvy Cobra

... :laugh:

saying that... a cheapy BMW 325 for TRACK USE isn't a bad idea...


kristian

 

[goldstar0011]

at last kris!!

 

[hughes_16v]

Many companies specifically state on your policy documents that you don't have 3rd party cover on other vehicles. Mine did until I got them to add 3rd party cover on other cars for occasions when you want to share driving but are not on the other persons policy as an additional driver.

i have tpft insurance on my car and i cant drive another car at 3rd party. is what your saying that you can ask them for 3rd party cover on another car as say an additoinal cover? id love to be able to drive my mums car again!

 

[Batch]

For two years it was written into my 3rd party fire and theft policy that i could drive other cars, didn't have to be otherwise insured either, just not registered in my name...

until Norwich Union came along and bought up the company.....i won't swear but i'm tempted!

 

[WINST69]

I have 3rd party cover on other cars, and you'll find that the car you intend to drive has to be registered to someone else and also insured by that someone else.

 

[Slim]

my old norwich union policy, 3rd part. said i had permission to drive vehicles not beloning to me. It didnt state hat they had to be insured by anybody else. and i was only 20

 

[Mr Sxy]

The car must be insured by someone as the police can check number plates and see if the car is insured or not. Most insurance companies do state conditions of driving other cars like value and engine size. At the end of the day its not worth the risk and if I had a 355 I would want fully comp, only takes 1 uninsured driver to smack into the back of you and then your screwed.

 

[j.a.kelly]

RE: RE: insurance on ferrari for micra cover

The car must be insured by someone as the police can check number plates

This is actually incorrect. The car needs not to be insured, it must be road legal, ie mot and tax, but need not to be insured. I had this cover for 2yrs with Norich Union, and now they have cancelled it untill 25yrs old.

The way they could get out of it is...if the vehicle you are driving is actually not insured and u r using ur third party section;
when your in control of the car...and hit someone, they will pay out, if for instance you leave the vehicle on public propery or a public highway, and the vehicle somehow caused damage to another, you would NOT be insured and therefore have to pay yourself, and could be classed as having NO valid insurance.

I ran the project micra in my mates name, and used it on this third party basis, and as Goldstar has said, thats how we got his Super back from the NE!!! hahaha.

JK