2nd car scam?

[bandwidthbandit]

I am in the process of getting quotes to insure an Rx-7 and was wondering if anybody had tried the following:

Is it possible to get insurance on the basis that the Rx is the second car...seal the deal getting the cheaper insurance quote .. and then sell the first car about a month after?  Is this possible or is too much of an obvious scam -  even if you tell the insurance company that you have sold the first car??

Opinions on this would be most welcome.

Bandit

[scooby_si]

cant see them buying that if you tell them you\'re moving to Iraq & would like the policy changing to cover that i think they may increase it a bit dont see why they wouldn\'t if you change any other particulars on yer policy.
Dont think you have a chance in hell of getting away with it myself.
Si

[podtech]

Bandwithbandit... that is too obvious of a scam!! they are wising up to all sorts and as they do they are changing the rules to suit them! You may find they decline to insure you when you tell them you have sold the first car and they definately would decline to payout if you were to have an accident not having told them!!

However the way I know people do it, is to buy a cheep car (low insurance group) like a mini, or a fiesta etc. Then insure the cheep car in their name fully comp. Using a policy provider that gives you the option to drive any other car (other car has to be insured) Finaly if you have an elder or someone who is a better risk then they insure the Rex... Your name is NO where near that insurance document however your Fully comp covers you to drive it.

My friends and I have found that it is cheeper to "own" two cars than try one fast one in your own name!

It also stands up if you get caught speeding and have to produce documents.

This is the way I have done things in the past, It seems to me to be the only legal way to own a fast car pre 25 without paying £3000+ for a rediculous quote

Hope this helps
Krgds
Podtech

[johnf]

podtech

What you say is true, however as I understant it you will on be on third party when you drive the OTHER car.

I also think the \'registered keeper\' of the other car has to be someone else.

So you can do it but your name isn\'t on the log book and it\'s only third party................

John

[podtech]

Yer thats right sorry forgot to add, who ever insures the second car (rex etc) the car has to be in their name!

And yes your right most policies will only cover you third party... but at least its legal and they have no comeback!

A friend of mine claims he has fully comp when driving other cars... (not too sure my self, never really bothered to dig! lol) but they may exist so if you find one pls let me know!

Cheers

[mattmaclennan]

Adding your mum on the policy works a treat aswell! You\'d be amazed how much your old dear can save you

[bandwidthbandit]

many thanks for all ur opinions fellas.  never seriously thought it would work.

si - i\'m offended u didn\'t use one smiley in ur msg.  

mattmaclennan - great idea but i\'m more inclined to put my dad down on the policy rather than my mum.  she drives like a loon and has more points.

not sure if i like the hassle of getting an old banger, even if it can lower the premium but i\'ll be sure to experiment and let you know.  What concerns me most is that although i\'ve never had a speeding ticket or accident ever, (been driving since 1996) i have 0 no claims bonus because i\'ve been an additional driver as of last December.

Thanks again,
bandit

[scooby_si]

OK hell smiley just for you http://www.smileycentral.com/?partner=ZSzeb008_ZNxdm46052GB\' target=\'_blank\'>http://smileys.smileycentral.com/cat/23/23_29_129.gif\' border=0> lol
Si

[Tintin]

depending on what your premium is it might be worth getting trade insurance , Tradex do an enthusiast policy ,

worked well for me means I can insure any car in my name at the same price , I would have had 4 cars on the one policy for £2k , as it turned out I sold 2 of them as I realised I wouldn\'t drive anything else once I got the rex ( apart from the van for work ) , it\'s still cheaper to have both on the trade policy as I was getting quotes of 2k for the rex alone

[Efini_Llew]

Not a bad plan! But can you get trade insurance without proof of being "trade"?? :confused:

[Jin Kazama]

Bandwidthbandit, looking  at your driving record, I suggest u go for TPFT on your car. This has saved me nearly a grand every year! Say your a Civil Servant as they are within a low risk category , Opt for limited mileage and ask for the the legal assistance to be removed  to save more money.

[Gerry M]

Originally posted by Tintin
depending on what your premium is it might be worth getting trade insurance , Tradex do an enthusiast policy ,

worked well for me means I can insure any car in my name at the same price , I would have had 4 cars on the one policy for £2k , as it turned out I sold 2 of them as I realised I wouldn\'t drive anything else once I got the rex ( apart from the van for work ) , it\'s still cheaper to have both on the trade policy as I was getting quotes of 2k for the rex alone

That who I used as well due to my claim history & points going with tradex worked out cheaper, but i do have 5 cars on the drive altho only 2 are now on the tradex policy

[Gerry M]

Originally posted by Efini_Llew
Not a bad plan! But can you get trade insurance without proof of being "trade"?? :confused:

as tintin said they do a enthusiast policy, mine is down as trade because the person at the other end of the phone assumed because the car was imported I was an importer. I havent needed any proof & noones  asked

[Tintin]

mines down as a traders policy as well I checked this out with them and told them it should be an enthusiast policy but they sid its fine

I think there all trade policies