Insurance. One NCB for two car's insurance??? - The Unofficial BMW M5 Messageboard (m5board.com)

BenS · 13th November 2005, 00:07

Hi all. As a new owner of a '94 3.8 I have enjoyed following the board to learn about all things M5. Originally I was planning to use the car as my only wheels, but I am begining to realise that it is too nice and a bit of a waste to use it as an everyday car. It is in great condition an has low miles..... Better to use just at weekends so that I really appreciate it.

And so to my dilema...I want to keep my old Audi as well. (It is so soft, comfy and easy to drive and it reminds me how wonderfull the M5 is!) However my insurance will not let me use my No Claims Bonus on both cars and want to charge me an arm and a leg.

Do any insurance companies allow you two have two cars without building up two NCBs?

By the way I am 39, married, wife and I both have 7 years NCB, one SP50....

Any suggestions gratefully received.

lagoonM5 · 13th November 2005, 00:41

Hi and welcome

My advice would be to continue to use the NCB discount on the Audi and insure the M5 on a classic limited mileage policy - im guessing that you will only be doing low'ish mileage due to keeping the Audi.
Classic policies do not have any no claims discount applied so this is why you will be able to continue to use it on the Audi policy.
Good luck and i hope you get a good quote.

Cheers Pete.

farrell · 13th November 2005, 10:30

A good suggestion from Pete.
I would add that some companys handling the hot stuff will do multivehicle policys.
I had a Skyline, Cosworth & M5 on ONE multivehicle policy at one point.

The only stipulation that you usually get is that only one of those vehicles named on the policy may be driven on the road at any one time.
I was the only named driver allowed on the policy so this went some way to meeting the cover criteria.

What you do find is that the underwriter ( not the broker) will ask you directly some rather pointed questions about your driving history with high performance vehicles.
For instance, what snatched my first policy of this type was the fact that I had documented evidence of driving rear wheel drive high powered cars & that a 400 bhp Cossie was still in one one piece after 4 yrs.

My cover was not a traders policy in any way & provided comprehensive cover & it was running from 1996 to 2001.

Just another option for you.

Farrell

durt · 13th November 2005, 10:53

Ben,

Similar situation with me at the moment. Needed to insure 2 vehicles but the insurance company would only allow my 8 yrs NCB to be used against 1 vehicle and the other had to be under a seperate policy, they did offer me 1 years NCB as a good will gesture due to being an existing customer.

The way round this situation - for me anyway - the wife is a named driver, fully comp cover as I am on the vehicle 1 policy. Vehicle 2 is now insured under her name with me as a named driver, fully comp giving me the same cover as her.

The wife - no NCB - through a "women specialist insurance comany" insured the vehicle for half the cost that I could with no NCB.

For the same vehicle and same policy terms, her cost with no NCB is almost the same as my cost with 8 yrs NCB - rip off insurance companies as far as us men are concerned.

Women drivers huh !!!!!!!!

BURTON · 13th November 2005, 15:02

Depending on what insurer you go with they maybe be able to do a intro scheme for you on the M5 with using a % of your NCB on the Audi

BenS · 14th November 2005, 00:42

Many thanks for all your thourghts. I will get on the phone tomorrow and let you know how I get on.

BenS · 14th November 2005, 20:20

Have had a phone around - it is amazing how different the quotes have been. Have insured both cars with First Alternative. Used the NCB on the M5 and they gave me free 3 years NCB on the Audi as a second car discount. That came to £435 for the M5 (using the NCB) fully comp with protected NCB and £417 for the Audi with similar cover (group 16). Not bad I thought - one advantage of getting old!

Best quote with classic car insurance was £635 limited to 3000miles